Among 68 shippers surveyed by American Shipper, 94 percent said they were to be hit with surcharges if a strike had occurred. Eighty-one percent of those characterized the surcharge as “significant,” while the other 13 percent said the surcharge was “somewhat high.”
Caterpillar on Monday announced record third quarter sales and profit, but said weaker-than-expected global economic conditions would dampen full-year and 2013 results. Lower demand has caused dealers to postpone new orders in an effort to reduce inventory levels, it said. The heavy-equipment manufacturer, a leading U.S. exporter, now estimates revenues of about $66 billion […]
Canadian National Railway said it had a profit of C$664 million ($670 million) in the third quarter, about 1 percent more than the C$659 million earned in the same 2011 period. Revenue in the third quarter of 2012 was C$2.5 billion, up 8 percent over the third quarter of 2011, while revenue ton-miles […]
President Barack Obama and Republican challenger Mitt Romney took turns in Monday night’s presidential debate flexing their muscles over trade relations with China, which they both said has used unfair tactics to gain a competitive advantage for its products in foreign markets. In their third, and final, debate Romney repeated his campaign promise to […]
OSG had 112 ships in its fleet, 67 owned and 45 chartered, and had two under construction. It operates a highly diversified fleet that encompasses crude, product, and gas tankers across a wide range of sizes.
Protests continued Monday in Colon, Panama, over a law that allows for the sale of land in the Colon Free Trade Zone, according to the English-news Website Panama Guide. The Associated Press reported Friday that a 10-year-old boy was killed during violent protests in the city, at the Caribbean end of the Panama […]
The express carrier said it had a profit of $469 million in the third quarter, 56 percent down from the $1.07 billion earned in the same 2011 period.
The logistics company Globe Express Services said it has opened its Dammam Terminal Yard in Saudi Arabia (KSA). The 23,000-square-meter facility replaces an office GES had operated in Dammam since 1995, with the the new terminal yard located at the Dammam Sea Port Zone on the Arabian Gulf. The new facility is meant […]
Hub Group reported record profit of $18.5 million for the third quarter ended Sept. 30, an increase of 14 percent compared to the $16.2 million earned in third quarter of 2011. Revenue in the third quarter was $805 million, 7 percent more than the $752 million earned in the same 2011 period. […]
Seaboard Marine said earlier this month it completed the purchase of the Mare, a 974-TEU container vessel. The ship arrived has been renamed the Seaboard Atlantic. The company said it plans to base the ship in Miami and use it to serve the northern zone of Central America. “With her unique […]
Virgin Atlantic Cargo said Tuesday it will offer same-day exports from Mumbai to the United States from Oct. 29. The airline is restarting service to India’s financial hub, adding to its daily service between Delhi and London. Quick transfers in London mean exports leaving Mumbai on Virgin’s daily 3:10 a.m. (local time) […]
The U.S. Export-Import Bank has renewed a 12-month export credit insurance policy for Wells Fargo to enable the export of American cotton to Menderes Tekstil Sanayi ve Ticaret A.S., a large Turkish textile maker. The bank said the renewal of this policy will sustain jobs at Cordova, Tenn.-based Cargill Cotton and the Carolinas Cotton […]
JetBlue Cargo has opened a new station at the Bermuda airport. The operation is overseen by Herbie Siggins, general manager. The Bermuda station is accessible to JetBlue’s other 38 locations. The airline will offer all cargo service levels in and out of Bermuda, including its Next Flight Guarantee on direct flights.
The U.S. Export-Import Bank entered an agreement with trade credit insurer Coface North America Insurance Co. to provide reinsurance. The bank introduced its reinsurance product two years ago to help U.S. small business exporters obtain short-term export credit. Since then, participating private-sector insurers of export credit are eligible to apply for Ex-Im Bank’s […]
Hamburg Süd said Monday it has hired Ryan Dooley as an account executive in the Boston area. Dooley previously served with Sea Star Line and has held operations and sales positions.
Revenues in the first nine months of this year were $4.47 billion, 7 percent more than in the first nine months of 2011. Volumes for the same period was 3.9 million TEUs, 5.1 percent more than in the first nine months of last year.
James Kwon, the maritime director at the center of the travel reimbursement-scandal at the Port of Oakland, was ordered to return from overseas business travel and immediately placed on paid administrative leave Friday.
The logistics services provider Kuehne + Nagel Belgium said Monday it has built a logistics e-commerce platform and warehouse management system for the toymaker LEGO Group. LEGO direct-to-consumer Internet orders are being processed for deliveries in Europe, Australia and New Zealand through the system. K+N said its 45,000-square-meter facility in Geel, Belgium, will […]
Foreign direct investment into Colombia has risen nearly 16 percent this year, with a number of global retailers planning to increase the number of outlets they operate in the country, according to the Colombian embassy. Between January and September, FDI rose to nearly $13 billion, a 15.8 percent year-on-year increase. FDI into Colombia […]
Hyundai Merchant Marine said Friday it will begin assessing a new Korea inland surcharge on North American export shipments from Nov. 15. The surcharge, $70 per container (for all sizes and types of equipment), will be applied on all exports from the United States and Canada to all inland points in Korea. Cargo […]
