American Shipper

South Korea’s largest ocean carrier recorded a net loss of 60.3 billion South Korean won (U.S. $54 million) for the third quarter of 2017.

The ocean carrier has announced three new services between South China and the Philippines that will commence sailing by the beginning of December.

The index, a composite of container freight rates on eight major routes to/from the U.S., Europe and Asia, is also down 9 percent compared with the same period in 2016, according to London-based maritime consultant Drewry.

The 669,218 TEUs handled by Long Beach port terminals last month resulted in the busiest October ever for container traffic at the Southern California port.

Based in New South Wales, Australia, Transitainer Global, which has been in the U.S.-Australia trade since 1986, will see its U.S. headquarters in Long Beach, Calif. taken over by New York-based logistics provider OL International.

The Gulf Coast port also saw increases in breakbulk and the return of roll-on/roll-off service for the first time since 2005, Port of New Orleans CEO Brandy D. Christian said at the annual State of the Port address Thursday.

FedEx Express is making a firm purchase of 30 ATR 72-600F aircraft, with options to buy up to 20 additional ATR 72-600Fs.

The Federal Transit Administration (FTA) and Federal Railroad Administration (FRA) have selected 17 projects to receive a total of $197 million for the Positive Train Control Grant Program for FY2017.

The eight new last-mile distribution hubs are part of the transportation and logistics provider’s plan to expand its last-mile footprint to 85 hubs by late 2018.

The air carrier will receive four additional Boeing 777 freighters by 2019 for use on its Asia and North America routes later this year.

The U.S. Federal Maritime Commission voted to move forward with issuing a notice of proposed rulemaking in the Federal Register calling for industry feedback into simplifying the agency’s rules and procedures for NSAs and NRAs.

Japan is leading the effort to foster an new free trade agreement among the remaining 11 members of the Trans-Pacific Partnership (TPP) at APEC talks this week following the withdrawal of the United States back in January.

Nearly two-thirds of businesses in the European Union expect to move some portion of their supply chain operations out of the United Kingdom as a result of Brexit, according to a survey from the Chartered Institute of Procurement & Supply (CIPS).

The U.S. government has amended Obama-era regulations regarding trade with Cuba to bring them in line with President Trump’s June order to cut off potential American business ties with Cuban government entities.

The Sugar Policy Modernization Act, which was proposed simultaneously this week in both the House and Senate, would require the sugar industry to pay back any taxpayer dollars they receive when they forfeit on government loans.

U.S. Commerce Secretary Wilbur Ross found himself on the hot seat this weekend when leaked papers revealed that a Russian businessman on the U.S. sanctions list has ownership in a customer of Navigator Holdings, a company in Ross’s investment portfolio.

$190M in Positive Train Control grants A total of $197.01 million in the PTC grant funding, authorized under the Fixing America’s Surface Transportation (FAST) Act, will be provided to 17 projects in 13 states. Entities and subentities placed on the Cuba Restricted List The Department of State is publishing a List of Restricted Entities and […]

The Bonn, Germany-based parcel carrier and logistics provider recorded net profits of 669 million euros (U.S. $777.6 million) on group revenues of 14.6 billion euros for the quarter, according to the company’s most recent financial statements.

A.P. Møller-Maersk CEO Soren Skou said the third quarter was “one of the busiest quarters that this company has ever seen with multiple moving parts” in the Danish’ conglomerate’s third quarter earnings call.

The Taiwanese ocean carrier also unveiled expansion plans in Southeast Asia and the Mediterranean amid an 11.1 percent percent year-over-year gain in transport volumes to 1.24 million TEUs for the third quarter.