The less-than-truckload carrier Old Dominion Freight Line said Thursday it had a record second quarter and first half 2012 revenue and operating margin. The carrier saw operating profit in the second quarter rise 27.8 percent year-on-year to $82.6 million on a 12.8 increase in revenue to $541.5 million. Net income in the quarter […]
Crowley Liner Services pleaded guilty and was sentenced to pay a $17 million criminal fine for its role in a conspiracy to fix prices in the trade between the U.S. mainland and Puerto Rico, the U.S. Justice Department said. According to a one-count felony charge filed in the U.S. District Court for the […]
Maersk Line, Ltd. (MLL) said Thursday it has completed the acquisition of 3PSC, a privately-held company that operates ships for the U.S. Navy. Based in Cape Canaveral, Fla., 3PSC has contracts to operate six “Pathfinder Class” T-AGS oceanographic ships for the Navy and one vessel currently under construction by VT Halter Marine. It also operates two […]
Oxfam, one of the United Kingdom’s larger charity retailers, is replacing major purchasing and supply chain systems to focus on a supply of new products. The chain also wants to better track and report the products donated to its 690 shops, both to know what it has available and to keep better financials […]
HSBC Bank said Thursday it has agreed to sell its shipbrokering consultancy arm, HSBC Shipping Services Ltd., to the division’s management team, according to a report by Reuters. The report noted HSBC has been pulling back from unprofitable business units as part of three-year recovery plan, having sold 28 businesses. HSBC Shipping Services […]
Caterpillar Inc. said it completed the sale of a 65 percent stake in its Caterpillar Logistics Services business to Platinum Equity in a deal valued at about $750 million. Caterpillar Logistics Services is the third party logistics division of Caterpillar’s subsidiary, Caterpillar Logistics Inc. Platinum intends to establish the business as a standalone company […]
Swissport International, a provider of ground services to airlines, has secured two additional cargo customers at Amsterdam Schiphol Airport. Starting this month, Swissport Cargo Services will begin handling freight for Air China’s daily Boeing 747-400 freighters into and out of Amsterdam, and will also handle the trucked freight movements at Schiphol for Turkish […]
The St. Lawrence Shipoperators (SLS) board has elected Daniel Bélisle to chairman. Bélisle, senior vice president of Oceanex, replaces Carole Campeau, who served as SLS chairman in 2006-2008 and 2011-2012. Since 1979, Bélisle has held various management positions in the marine industry, including associate general manager for CP Ships, vice president of finance […]
The information company Panjiva said it has created a new product called Maritime Monitor that it says is designed “to meet the trade analysis and lead generation requirements for the maritime industry.” The product customizes Automated Manifest Systems data from U.S. Customs and Census data to provide trade intelligence for companies looking to […]
Rep. Charles Rangel, D.-N.Y., on Thursday introduced the Cotton Trust Fund Act (H.R. 6265) in the House, a bill he said is designed to help U.S. cotton shirt manufacturers better compete with imports. Every day millions of shirts enter the U.S. duty free, while American shirt manufacturers are subject to strict entry quotas […]
The board of the American Society of Transportation and Logistics (ASTL) has elected Michael Segal as its 2012-2013 chairman. Segal is director of logistics and operations planning at Sappi Fine Paper North America. In addition, he is responsible for the Cloquet Terminal Railroad, a short-line located in Cloquet, Minn.
Both the U.S. House and Senate on Thursday passed legislation to a extend key provision in the African Growth and Opportunity Act enacted by President Clinton in 2000. The provision, which was set to expire on Sept. 30, waives any duties on clothing imports from most AGOA countries, even if the yarn is […]
James McNamara, the ILA’s spokesman, said the union remains optimistic about reaching an agreement following last month’s agreement between the union and management on issues involving automation and chassis.
The port authority anticipates about 600 vessels a year will participate in the CVI program, and it will yield annual emission reductions of 182.2 tons of nitrogen oxide, 38.3 tons of particulate matter, and 264.1 tons of sulfur dioxides.
The U.S. Maritime Administration has denied an application by American Petroleum Tankers (APT) for a Title XI loan guarantee for five 49,000-deadweight-ton petroleum tankers that were built at the General Dynamics NASSCO shipyard in San Diego between 2006 and 2010 for the U.S. coastal trade. A letter from Maritime Administrator David Matsuda dated […]
Transpacific ocean carriers may find it hard to get planned rate increases on the eastbound trade to stick, according to London-based research and consultancy firm Drewry. Drewry’s container rate benchmark from Hong Kong to Los Angeles ticked up 3 percent in the last week to $2,542 per FEU, about $71 per FEU higher […]
Orient Overseas (International) Ltd., the Hong Kong-based parent of liner carrier OOCL, said Thursday its operating profit fell 25.5 percent year-on-year in the first half of 2012 to $140 million.
Mojix Inc., a Los Angeles-based technology provider of radio frequency identification device networks with real-time locating system (RTLS) abilities, is increasing its push into the automotive manufacturing industry. Mojix said it is targeting the automotive industry because it sees supply chains being stretched to more locations with tighter deadlines and believes its system can provide the visibility […]
Xata Corp., which provides fleet management software to the trucking industry, reported results for its fiscal 2012 third quarter, which saw a drop in revenue for the quarter but a level revenue stream for the past nine-month period. For its quarter, ending June 30, total revenue for Xata was $15.6 million, compared to $17 million […]
The South Korean container line Hanjin Shipping said Thursday it lost $147.1 million from operations in the first half, a 17.2 percent reduction on the losses it sustained in the same period in 2011. First-half Liner revenue increased 11 percent year-on-year to $3.6 billion. Container volume rose 6.5 percent to nearly 2.2 million […]
