“Weak credit quality, challenging capital market conditions, and reduced access to government-guaranteed loans likely will increase the cost of funding new vessels and retrofitting old ones to meet upcoming environmental regulations,” S&P said.
The liner carrier Hapag-Lloyd plans to increase the fuel surcharge it assesses on the trade from Europe to Asia, effective April 16. The German line said the increase is “due to the substantial increase in bunker prices” and has dubbed the increase an “interim fuel participation factor” (IFP). The IFP will be […]
The liner carrier Hanjin Shipping said Tuesday it has taken delivery of its biggest ever containerships, the 13,100-TEU Hanjin Sooho and Hanjin Asia. The ships are the first two in a series of nine to be delivered by Hyundai Heavy Industries and will go into service on the Asia-Europe trade in April. The […]
A Government Accountability Office (GAO) investigation found that counterfeit military parts remain readily available from Chinese companies for use in U.S. weapons systems. The congressional watchdog agency set up a fake Internet company as part of a sting operation against counterfeit goods. Chinese sources represented 84 percent of the bids the fake company received. GAO said the findings conclude that China […]
AmerisourceBergen Corp. announced plans to buy World Courier Group of Stamford, Conn., for $520 million, which follows MNX’s acquistion three weeks ago of Columbus, Ohio-based AirNet.
Horizon Lines said it has an agreement with more than 96 percent of its noteholders to further de-leverage its balance sheet in connection with and contingent on a restructuring of the vessel charter obligations related to the company’s discontinued transpacific service. Stephen H. Fraser, president and chief executive officer, said “we believe these additional steps will […]
House lawmakers have differing opinions about the potential need for federal intervention to keep trade flowing if growing labor tension between terminal operators and ILA workers on the East and Gulf coasts leads to a strike.
The New York Shipping Association Monday lauded a request by the Port Authority of New York and New Jersey to expedite federal review of plans to raise the roadbed of the Bayonne Bridge so that larger ships can pass beneath it. Last Friday the port authority submitted to federal officials a formal request that the project […]
The South Carolina Ports Authority said it approved on Friday a $42.7-million contract for work on a container terminal at the former Navy base in Charleston. The contract was awarded to the Quincy, Mass.-based firm Jay Cashman, Inc. Cashman will transport about 1.75 million cubic yards of dredged material from Daniel Island to the terminal, […]
The Scandinavian postal company PostNord has signed a deal to acquire Green Cargo Logistics, considered the second largest third-party logistics company in Sweden. The deal is subject to regulatory approval. PostNord is the group formed from the merger of Sweden’s Posten and Denmark’s Post Danmark, and said the acquisition of Green Cargo Logistics […]
The liner carrier MOL said Tuesday it will amend its service network between Asia and South Africa from early April. MOL will join a PIL and “K” Line loop between the Far East and South Africa from April 8. The loop, dubbed ASA by the existing operators, has a rotation of Shanghai, Ningbo, […]
The White House through presidential proclamation on Monday designated the Republic of South Sudan as a new beneficiary of the Generalized System of Preferences (GSP) and suspended Argentina from eligibility in the trade program. “The president’s designation of the Republic of South Sudan as a GSP beneficiary country provides an opportunity for this […]
Andersen A.P. Moller-Maersk Group said Monday that Chief Executive Officer Nils S. Andersen will not return to work for another six to eight weeks, following a decision last week by doctors that he needed further surgery. Andersen had been expected to return to work on Monday, but last Friday, doctors concluded after a routine scan […]
By Eric Kulisch Rep. John Mica, chairman of the House Transportation and Infrastructure Committee, and leaders of the House PORTS Caucus visited the American Association of Port Authorities spring conference in Washington last week to express their commitment to seaports as vital engines of economic growth. Mica received a […]
The U.S. International Trade Commission is seeking input for a newly initiated investigation on the effect of correcting the U.S.-Korea Free Trade Agreement product-specific rules of origin. The investigation, “Effect of Adding References to HS 6104.32 to Correct the U.S.-Korea Product-Specific Rules of Origin,” was requested by the U.S. Trade Representative in a […]
Newly released statistics from the Institute of Chartered Shipbrokers (ICS) show shipping bucking the trend in terms of cuts to training budgets, the London-based organization said. ICS said examination registrations for the institute are up 44 percent, providing a “sharp contrast to the downbeat maritime industry forecasts for the medium to long term.” […]
LeanLogistics, a Michigan-based provider of transportation management system applications and supply chain services, has updated its On-Demand TMS software with new features centered on logistics, shipment optimization and emission reporting. One of the key improvements of its On-Demand TMS v.12.1.0 is the inclusion of tools to calculate and report greenhouse gas emissions in line […]
No. 10 Hecny Shipping By Eric Johnson Welcome to the third installment of our yearlong countdown of the top 12 non-vessel-operating common carriers for U.S. inbound containerized cargo. Using data provided to American Shipper by the trade intelligence firm Zepol Corp., we’ll take a closer look at each of these companies in terms […]
“We have created a balance sheet that allows DP World to meet the long-term strategic requirements for investment into profitable growth opportunities, whilst maintaining a very disciplined approach to capital allocation,” said the DP World chairman.
Mica Rep. John Mica, the chairman of the House Transportation and Infrastructure Committee, last week introduced legislation to extend by three months federal authority for highway and transit programs that are scheduled to expire on March 31. The House leadership is expected to bring the measure to the floor for a vote this week. […]
