The container shipping division of liner carrier Hanjin Shipping slumped to a $209 million operating loss in the first quarter of 2012, a huge drop from the $28.3 million it lost in the same quarter in 2011.
Homeland Secretary Janet Napolitano has formally notified Congress that her department will postpone by two years the mandate that all inbound ocean containers be scanned for hidden nuclear weapons or other terror-related contraband at foreign ports by July 2012. The 9/11 Recommendations Act that required the 100-percent inspections included authority for the secretary […]
The acquisition will give FedEx Express access to a nationwide domestic ground network which carries 19 million shipments and produces about 150 million euros ($194 million) in revenue annually.
MOL said the service will be particularly beneficial for U.S.-to-Asia export customers in the Southeast United States who want to target emerging markets in Asia with direct Singapore, Vietnam and China calls.
The liner carrier CSAV said Friday it had operating losses of $175.6 million in the first quarter, a slight decline from the $182 million it lost in the same period in 2011. Operating revenue in the quarter fell 42.7 percent year-on-year, to $832 million, largely a result of CSAV cutting its operating fleet […]
The federal government is easing rules requiring railroads to install positive train control (PTC) equipment, saving the industry hundreds of millions of dollars. The Department of Transportation said under the revisions announced Thursday railroads will no longer have to conduct risk analyses to obtain approval to not install PTC or take other costly […]
COSCO Container Lines has announced a series of planned rate hikes in major trades over the next few weeks. The increases are: $400 per TEU and a $300-per-TEU peak season surcharge from the Far East to the Persian Gulf on June 1. $200 per TEU from the Far East to the Indian Subcontinent. […]
Caterpillar signed a deal to sell Platinum Equity a 65-percent equity stake in Caterpillar Logistics Services LLC, the company’s third-party logistics division of subsidiary Caterpillar Logistics. The overall transaction is valued at roughly $750 million.
Axway, which develops cloud-based software, has announced Nathan Associates has picked the company’s business-to-business integration (B2Bi) service to run a single window pilot program. The pilot is being put into place by the Association of Southeast Asian Nations (ASEAN). The goal of the single window is to reduce the time needed to process import and export […]
Global Container Terminals has announced plans for a multimillion-dollar expansion to its Global Terminal in Bayonne, N.J. that it said will make it one of the most technologically advanced container facilities in the country.
Cargotec has changed the roles of several executives to further implement its marine and terminal business strategy. In specific, Cargotec aims to grow its marine activities in Asia, especially in offshore, and accelerate the improvement of its terminal business to enable growth. Chief Operating Officer Pekka Vauramo has been appointed executive vice […]
CBP will open two more industry-focused units aimed at centralizing the import process for trusted shippers, one for automotive and aerospace in Detroit and one for petroleum, natural gas and minerals in Houston.
Accellos, a provider of supply chain software, has launched an updated version of its AccellosOne Workspace, an application that serves as the foundation for existing and upcoming products from Accellos. Chad Collins, Accellos’ chief marketing officer, said Workspace was created with Microsoft technology and designed to answer three customer concerns: Make software simple and […]
The U.S. House Homeland Security Committee on Wednesday voted to advance a bill that directs the Department of Homeland Security to study and report to Congress on gaps in port security and how to address them. The “Gauging American Port Security Act” was introduced by Rep. Janice Hahn, D-Calif., who has taken an active […]
U.S. and European Union customs officials have finalized an agreement to treat qualified shippers in their respective supply chain security programs as equivalent to their own, but a wide range of technical details must still be worked out before low-risk companies can enjoy reduced fees and inspection levels for ocean freight. Under the agreement signed last […]
Horizon Lines reported a net loss from contiinuing operations for the first quarter ending March 25 of $26.8 million, compared to $20.2 million in the same 2011 period. Revenue was $263.4 million in the first quarter, compared to $240.7 million recorded in the first quarter of 2011. Including discontinued operations, such as the transpacific FSX […]
The liner carrier was one of a few lines to have been profitable in 2011, but succumbed quickly with an operating loss of $132.9 million in the first quarter of 2012 due to poor rate environments and rising bunker costs.
Matson Navigation Co. saw a near doubling of its business between the U.S. West Coast and Guam in the first quarter of 2012 when compared to 2011 because of the decision by Horizon Lines to withdraw from the market. The Oakland-based company moved 6,400 containers in the first quarter of 2012, compared to 3,300 […]
The U.K. managing director for container line MOL laid out the reasons why different shippers receive significant variations in price quotes from different shipping lines. “Calculating a realistic price for a container movement can be very complex – it depends on how full the ship is, the price of fuel, how fast it […]
XPO Logistics said it had a net loss of $2.7 million for the first quarter, compared to a profit of $1.1 million for the same 2011 period. Total revenue was $44.6 million for the quarter, a 7.4 percent increase from the same period last year. Bradley Jacobs, XPO’s chairman and chief executive officer, said […]
