Antwerp-based ocean carrier Compagnie Maritime Belge (CMB) has completely divested itself of participating interest in shipbroker Clarksons after an earlier sale of 720,000 shares in early January. A total of 3.239.650 Clarksons shares were sold by CMB this year, representing $58.5 million. The capital gain – that will be recorded in CMB’s first […]
The U.S. Federal Maritime Commission has published a proposal to update its pleading, motion, and discovery rules. The FMC said the proposed changes are intended to add clarity, reduce burdens on parties, and incorporate standards from the current Federal Rules of Civil Procedure. The FMC said it is the second proposed rule change in […]
Express Technologies, developer of the LoadTech transportation management system (TMS), has opened its new headquarters in Pittsburgh. The company said the new facility will allow it to serve customers more efficiently, as well as provide a place for the company to test and develop new technology for global logistics, transportation, and distribution. It will also accommodate […]
Extending the re-validation cycle for companies in the Customs-Trade Partnership Against Terrorism by a year will not adversely impact supply chain security but could help reallocate funds and make savings in 2013.
San Diego-based Kyriba, which offers gloval Software-as-a-Service (SaaS) treasury management solutions, has launched a new supply chain finance platform that integrates with its existing Treasury Management System. The new Supply Chain Finance offering is a scalable, multi-bank portal that connects buyers, suppliers, and financial partners in a single platform to enhance transparency and […]
Roadrunner Transportation Systems (RRTS) said that it has acquired all of the outstanding capital stock of Capital Transportation Logistics, a provider of transportation management solutions (TMS) located in Nashua,N.H., for $6.25 million. Capital Transportation Logistics is a non-asset based TMS provider that focuses largely on less-than-truckload services but also supports truckload brokerage and […]
The container carrier Maersk Line said Monday it had $483 million in operating losses in 2011 thanks to a huge downfall in container freight rates in the second half of the year. The performance represents a huge downward turn from the record $2.8 billion the container line made in 2010. Maersk Line also made […]
The liner carrier CMA CGM said it will make amendments to its Asia-U.S. East Coast network that center around changing its existing around-the-world PEX3 service into a straightforward all-water transpacific loop. In concert with that move, the French line will take slots on an existing China Shipping/Evergreen Line/UASC all-water service that covers ports to […]
U.S. Customs and Border Protection said officers recently confiscated more than 13,000 hair dryers at the ports of Los Angeles and Miami that posed an electrocution hazard to consumers.
The carrier COSCO Container Lines said Friday it plans to raise rates on the trade from the Far East to Red Sea. The increase, $300 per TEU, is effective from April 1. The increase is applicable to origins in China, Hong Kong, Taiwan, Macao, Philippines, Vietnam, Thailand, Malaysia, Singapore, Indonesia, Korea, Brunei, Cambodia, […]
The Federal Maritime Commission announced earlier this month compromise agreements with eight NVOCCs and related companies that will result in a total of $490,000 in civil penalties. The parties settled and agreed to penalties, but did not admit to violations of the Shipping Act or FMC regulations. The agreements were with: Orient Express Container […]
OOCL announced a general rate increase on its transatlantic services will go into effect on April 1. The company will increase rates on both westbound and eastbound cargo between Europe, Canada, and the United States via Canadian ports by $320 for 20-foot containers and $400 for 40 foot containers. The increase applies to […]
Panalpina on Friday made two key appointments in its global executive team, including naming Robert Erni as the new group chief financial officer. The other major appointment was Ferdinand Kurt, who will become regional chief executive officer for the Americas region. Erni comes from Kuehne + Nagel, where he spent the […]
The Chartered Institute of Purchasing and Supply (Cips) Southern Africa and the University of Pretoria (UP) have partnered to enhance the procurement and supply chain profession in South Africa. The two have signed a memorandum of understanding to collaborate on advocacy and lobbying to enhance the professional status of the supply chain management […]
Kerry Logistics has completed its acquisition of Kerry Salvat Logistics S.A., its former Spanish joint venture. The Hong Kong-based 3PL has purchased the remaining shares of the venture from its partner Salvat Logistica, S.A. The companies did not disclose financial terms. Kerry said that Spain has been a key market for it since 2005. Volumes […]
INTTRA, the ocean-carrier owned e-commerce platform, has reported a 24 percent increase in the use of its global e-commerce facility for the containerized shipping industry. INTTRA expects its transaction growth to be almost four times the 2011 industry volume growth when looking at Drewry Maritime Research’s projected 2011 global container growth of 6.5 percent. In 2011, INTTRA […]
Homeland Security Secretary Janet Napolitano made an unprecedented phonecall to the Commercial Operations Advisory Committee on Tuesday to affirm her commitment to the transformation underway at U.S. Customs designed to facilite cross-border trade.
The ocean carrier Mediterranean Shipping Co. has announced in a newsletter on its Chile Website a series of changes to its hub and spoke network in the Americas based on Cristobal and Balboa. Most importantly it has terminated its USEC-WCSA service beyond Cristobal (on the Caribbean side of the Panama Canal). This loop, on […]
U.S. scrap steel importers have told the Office of the U.S. Trade Representative that a combination of export taxes and recent export port constraints imposed by the Russian government will curtail their access to this market, contravening WTO rules.
Rickmers Holding has hired Mark-Ken Erdmann as deputy chief financial officer effective July 2012, the Hamburg-based carrier said. Edrmann is joining Rickmers, which operates several different cargo vessel divisons, from Bertelmann, a German multinational media company. For Rickmers, he will be responsible for accounting and controlling, tax, IT, human resources, legal affairs, […]
