In response to Horizon Lines’ announcement that it will be discontinuing its Guam service effective November 10, Matson told customers that it has the vessel capacity and necessary equipment to handle the additional volume and maintain existing levels of service without requiring any new fleet deployments. Matson’s said its U.S.-flag ships currently provide […]
Costamare says its containership Rena is a total constructive loss. The incident will have a financial impact on the company but says it has insurance for pollution, salvage, clean up response, hull and machinery and third party claims.
The containership leasing and operating company Costamare said it had a profit of $17.4 million in the three months ending September 30 compared to $23.8 million in the same 2010 period. Revenue was $99.9 million for the quarter versus $88.6 million in the third quarter of 2010. The company said it had […]
Norfolk Southern said it had a profit of $554 million in the third quarter ending Sept. 30, 24 percent more than it earned in the third quarter of 2010. Total railway operating revenues in the third quarter were $2.9 billion, up 18 percent from the $2.5 billion in the same 2010 period. […]
Canada’s two major railroads reported increased revenue rises in the third quarter of 2011 compared to the prior year. Canadian Pacific Railway said it had a profit of 186.8 million Canadian dollars (U.S. $184.2 million) in the third quarter of 2011 compared to C$197.3 million in the same 2010 period. The railroad […]
U.S. Customs and Border Protection agriculture inspector found a shipment of dried palm leaves contained a fungus during a routine inspection of dried palm leaves. The shipment arrived at George Bush Intercontinental Airport Air Cargo from Brazil on October 18. The shipment was later destroyed. Animal and Plant Health Inspection Service inspectors determined […]
A Georgia man was sentenced today to 46 months in prison, a $10,000 fine, and was ordered to forfeit $160,362 in connection with his efforts to illegally export military components for fighter jets and attack helicopters from the United States to Iran, the U.S. Justice Department said Wednesday. Michael Edward Todd, a U.S. […]
Hanjin Logistics said it had opened three new offices in Nanjing in China, Tokyo in Japan and Casablanca in Morocco. The Seoul-headquartered firm said it has expanded its network aggressively this year to strengthen its presence in the global logistics market and is developing strategic business partnerships with other firms. “Although economic […]
The logistics company C.H. Robinson said it had profit of $114.3 million in the third quarter ending Sept. 30, 11.4 percent more than the $102.6 million in the same 2010 period. Total revenue was $2.7 billion for the quarter, 11.3 percent more than the $2.4 billion recorded in the third quarter of 2010. […]
U.S. Agriculture Secretary Tom Vilsack will travel to Vietnam and China in mid-November to help strengthen bilateral trade relations and support American agricultural goods throughout the Asia Pacific region. Vilsack is the first sitting American Secretary of Agriculture to visit Vietnam. In Vietnam, Vilsack will meet with Vietnamese officials, talk with agricultural […]
U.S. Commerce Undersecretary for International Trade Francisco Sánchez on Monday met with Palestinian Authority Prime Minister Salam Fayyad in Ramallah to promote expansion of U.S.-Palestinian commercial relations.
Curto The New York/New Jersey Foreign Freight Forwarders and Brokers Association has chosen Joseph C. Curto, president of the New York Shipping Association to receive their 2012 Person of the Year Award. The award will be presented during the 95th annual dinner at the Marriott Marquis Hotel in New York on January 25, […]
Hub Group reported a profit of $16.3 million in the third quarter ending Sept. 30, 29 percent more than the $12.6 million earned in the comparable 2010 period. Revenue in the third quarter was $760.4 million, 59 percent more than the $478.4 million recorded in the third quarter of 2010.
Representatives Janice Hahn, D-Calif., and Ted Poe, R-Texas, announced Wednesday the formation of a Ports Caucus in the House to raise awareness about the importance of ports and generate legislative support within Congress. More than 13 million jobs and a quarter of Gross Domestic Product are tied to international trade, 95 percent of […]
The latest edition of the monthly Global Port Tracker forecast prepared by Hackett Associates and the Bremen Institute of Shipping Economics and Logistics says shipments to European ports for the remainder of the year and early 2012 could be weak. “Much depends on the level of confidence and this depends on the handling […]
By Renee Roe, Senior Consultant, BPE Many people will tell you that you should write an Export Management and Compliance Program (EMCP) because the U.S. Commerce Department’s Bureau of Industry and Security (BIS) recently updated its guidelines. An even better reason to spend the time to ensure you have a current EMCP is to […]
By Chris Gillis, Editor It’s no secret that international shippers will move their freight through ports where they get the best service at the lowest price. Otherwise, it doesn’t really matter to them which ports their containers pass through en route to the final U.S. destination. So, why the uproar with west coast […]
OOCL is increasing the vessel size it operates on its KTX 2 loop, linking Japan with South China and Thailand, from 2,742 TEUs to 4,562 TEUs. Its Japan to Singapore KTX 1 loop already has 4,500-TEU ships.
Truck tonnage in the United States improved 5.9 percent in September from a year earlier while increasing 1.6 percent from August, a sign that the traditional peak shipping season is beginning at a moderate level, according to the American Trucking Associations. The industry group’s latest member survey puts the Truck Tonnage Index at […]
Union Pacific Railroad said this week it will spend $4 million to upgrade a rail line that runs from Jefferson City, Mo., to west of Marshall, Mo. The project, due to be completed by mid-December, will see the railroad replace more than a quarter mile of rail in various curves, as well as […]
