Grand Alliance carriers are set to drop two transpacific services at the end of October in line with a number of other carriers trimming services from the summer onward.
ICS Chairman has made another call for stronger action against pirates, stating “The world community cannot tolerate the abuse and the killing of seafarers.”
UPS will offer its air freight customers the same capability now enjoyed by small package shippers to electronically clear customs in more than 90 countries.
Inland Salvage said it recently completed the removal of about 1,000 tons of structural scrap steel from a sunken hopper barge. The 195-foot barge, which was also removed by Inland Salvage, had been obstructing a loading dock on the Mississippi River near LaPlace, La. A dive survey was conducted and the barge […]
Low price strategy
The Organization for Economic Cooperation and Development (OECD) said Monday that composite leading indicators (CLIs) for August, designed to anticipate turning points in economic activity relative to trends, continue to point to a slowdown in economic activity in most OECD countries and major non-member economies. The CLI for the OECD area fell half […]
Kuehne + Nagel has entered an agreement to acquire Carl Drude, located in Hauneck/Bad Hersfeld, Germany. The Swiss logistics company noted the firm is located is in central Germany and said the purchase is in line with its strategy to further expand its European overland network and to establish a European hub-and-spoke system. […]
APM Terminals has been awarded a concession to manage the Skandia Container Terminal in Gothenburg, Sweden for the next 25 years. APM will invest more than $115 million in the first five years of operation to make the port more competitive as a freight hub for the Nordic markets. Most of the investment […]
Drewry Shipping Consultants says “an excess of capacity on key routes, as well as poor discipline from carriers means that container shipping lines will not cover their cost of capital in 2011 and many will lose money once again.”
Maritime New Zealand said salvors are working to remove bunker fuel from the containership Rena which went aground last Wednesday on Astrolabe Reef near Tauranga Harbor off New Zealand’s North Island. The government agency said workers began pumping fuel from the Rena to the bunker barge Awanuia at 8.30 p.m. on Sunday and […]
An artist has created an artwork in Memorial Hill Park across the street from the Federal Reserve Bank of Kansas City, Mo., using standard freight containers. At the site, the stacked light colored containers spell out “IOU” and “USA” on the other. John Salvest said the national debt problem was the inspiration […]
Oak Hill Capital Partners said it will invest an additional $55 million in Southern Air to helpreplace older aircraft. The private equity firm has owned a majority stake in Southern Air since 2007.
Stars and stripes
Jeng “Jay” Shih, 54, a U.S. citizen, and his Queens, N.Y.-based company Sunrise Technologies and Trading Corp., pleaded guilty on Friday in the District of Columbia to conspiracy to illegally export U.S.-origin computers from the United States to Iran through the United Arab Emirates. At the court hearing, Shih and his company each […]
Radiant Logistics said it had a profit of $582,000 in the three months ending June 30, compared to $844,000 in the same period the prior year. The company said the results reflected its acquisition in April of DBA Distribution Services, which commonly operates under the name Distribution by Air. Radiant said it […]
Southern California’s Port of Long Beach said it will discuss a potential lease or purchase of One World Trade Center in Long Beach at its board meeting on Monday. The Los Angeles Times reported the port has tentatively agreed to purchase the 27-story building for $130 million, which it said is less than […]
Washington Notebook
A trio of liner carriers operating a service between the west coast of South America and the U.S. East Coast will tweak the loop’s rotation to include new calls at Buenaventura and Balboa. The Americas service, operated by CSAV, Hamburg Süd, and CCNI, will include the new calls northbound, while a northbound call […]
Evergreen Line said this week it is splitting an intra-Asia service between China and Indonesia into two unlinked feeder loops. The carrier’s former HBI service will now become two feeders – one linking Hong Kong with mainland China and another linking Tanjung Pelepas with Indonesia. Evergreen said the move was made to “better […]
Maersk Line, Limited (MLL), the U.S.-flag vessel arm of A.P. Moller-Maersk, will support the development, financing and construction of utility-scale offshore wind energy facilities in North America.
