A second container ship has run aground near the port of Tauranga where authorities are struggling to salvage the wrecked Rena. The 660-TEU Schelde Trader hit rocks after it lost power leaving Tauranga.
Customs and Border Protection has fined Escopeta Oil and Gas $15 million for using a COSCO heavylift ship to transport an oil rig on the first leg of a move from the Gulf of Mexico to Alaska. The fine was based on the value of the rig. Jon Waldron, an attorney with […]
Maersk Line and CMA CGM have added a new call at Xingang to their FM2/CIMEX service between the Far East and Indian Subcontinent, American Shipper affiliate ComPair Data confirmed Thursday. China’s state-owned news agency Xinhua first reported the new call in Xingang. The rotation for the service is Pipavav, Nhava Sheva, Karachi, […]
International Shipholding Corp. said Thursday that it had profit of $2 million in the third quarter ending Sept. 30 compared to a loss of $13.8 million in the same 2010 period. In the 2010 quarter the company had incurred a $25.4 million non-cash impairment charge relating to its U.S.-Mexico rail ferry service. […]
China COSCO Holdings, the parent company of liner carrier COSCO Container Lines, has reported a third quarter net loss of $330 million on $2.8 billion of revenue. The company’s container division saw revenue decrease 21.3 percent, to $1.4 billion, despite its container volume rising 14.2 percent, to 1.9 million TEUs, during the quarter. […]
Maersk Line plans to implement a number of rate increases in November, according to the line’s weekly customer notice. From Nov. 18, the line will seek a $500 per 40-foot high-cube reefer container increase from Ecuador to United States and Canada destinations. From Ecuador to Canada, Maersk will also raise rates by $100 […]
Wallenius Wilhelmsen Logistics (WWL) has named Robert Lord as its new regional director for Oceania, based in Sydney. The appointment is effective March 5, but Lord will join the company from Dec. 5 to aid the transition from current regional director Greg Martin, who is retiring from WWL after 40 years in the […]
A six-fold increase in third quarter profits means that the intermodal carrier is now debt free for the first time in its history as a public company and has cash to reinvest in its business to drive future earnings.
The inland and coastal barge operator Kirby Corp. reported a profit of $52.7 million in the third quarter of 2011 ended Sept. 30, compared to $30.7 million in the same quarter last year Consolidated revenues for the 2011 third quarter were $563.6 million compared with $281.3 million reported for the 2010 third quarter. […]
Hong Kong Air Cargo Terminals Limited (HACTL), a large cargo handling agent, said it continues to experience growth in transshipment traffic. Seven out of nine months this year have seen an improvement over 2010. Transshipments are up 5.5 percent for the first three quarters of 2011, and 8.5 percent for September. […]
The U.S. Trade and Development Agency awarded a $758,000 grant to the Air Traffic and Navigation Services Co. Ltd. of South Africa, a state-owned air traffic control and navigation services company. The grant will fund a study to evaluate the technical, financial, environmental and other critical aspects involved in a proposed airside capacity enhancement […]
The Toledo-Lucas County Port Authority board on Thursday approved the preparation for a new cargo operator, BX Solutions, at Toledo Express Airport. Start-up company BX Solutions has received permission to manage and maintain the cargo facility; manage the delivery of all services at, to and from the facility; and market the facility for intermodal […]
Thursday’s news that the U.S. economy grew 2.5 percent in the third quarter is the latest optimistic sign that companies hope will translate into more business.
More than 100,000 people have subscribed for UPS My Choice since the company rolled out the service on Sept. 14 to give customers more delivery options, Chairman and CEO Scott Davis said during the company’s quarterly earnings call with analysts on Tuesday. The new innovation gives customers the ability to control the time […]
The U.S. Commerce Department’s Bureau of Industry and Security said four companies agreed to pay a total of $ 72,000 in civil penalties to settle allegations that each violated the antiboycott provisions of the Export Administration Regulations. ChemGuard Inc, located in Mansfield, Texas, will pay a civil penalty of $22,000 to settle seven allegations […]
TNT Express N.V. has appointed Jan Ernst de Groot to general counsel and managing director of external affairs, effective Nov. 1. His focus will be legal and regulatory affairs, including sustainable development. He previously worked at KLM Royal Dutch Airlines in various management positions.
COSCOPacific Limited said it had revenue of $160 million in the third quarter of 2011 compared to $107 million in the same 2011 period. The company, which is a whole or part owner of about 15 Chinese terminals and four overseas, said container through put at terminals at which it is an investor […]
Could it be that the United States is pretty much the most unattractive import market for container lines? According to a chart compiled by the maritime consulting unit of the Seabury Group, the United States’ import market sits in the unenviable position of having among the lowest growth characteristics coupled with a fairly […]
UPS Tuesday reported modest operating profit and flat volumes in the third quarter. Operating income grew 0.2 percent to $1.62 billion on delivery of 965 million packages, an increase of 0.7 percent from a year ago. Adjusted for non-recurring events, operating profit actually grew 6.2 percent. Net income was up 5.1 percent to […]
NYK said it has entered the Brazilian container cabotage trade, acquiring a 10 percent interest in Maestra Navegação e Logistica S.A. (Maestra) and two group companies. The two partners plan to begin a new service in November using four vessels with nominal capacity of 1,100 to 1,600 TEU that will offer fixed-day weekly […]
