The official flag carrier of Hong Kong will purchase the remaining 40 percent of shares in Air Hong Kong, held by DHL, who in turn will acquire eight freighter aircraft from Air Hong Kong.
WCO, OTIF sign MOU The World Customs Organization and the Organization for International Carriage by Rail (OTIF) have signed an agreement to develop railway transport corridors and technical assistance activities in transcontinental transits. Maersk files for exemption Due to the Petya cyber-attack in late June, Maersk has requested relief from U.S. service contract filing rules […]
The Port of Los Angeles and General Electric recently launched an ambitious data portal pilot program that will digitize the movement of shipment information in an effort to improve the flow of goods at the nation’s busiest seaport.
For some shippers, data capability and accuracy are becoming as important as service and pricing when differentiating between transportation service providers.
The “Big 3” Japanese container lines – MOL, NYK and “K” Line – have named Jeremy Nixon, former Chief Executive Officer of NYK Group’s container division, to lead their new joint venture scheduled to commence operations in early 2018.
As of June, 178 containerships with an aggregate capacity of 474,000 TEUs were idle, with over half of the ships having a capacity of 2,000 TEUs or less, according to maritime consultant Drewry.
The Northern California port handled 204,255 TEUs for the month, with full container imports reaching 80,253 TEUs and full container exports totaling 75,460 TEUs.
The International Monetary Fund has lowered the GDP growth projection for the United States from 2.3 percent to 2.1 percent for 2017, warning that the Trump administration is unlikely to achieve its stated goal of an annual GDP growth of 3 percent.
The boxship APL Jeddah lost power and hit the number 58 berth at the Taiwanese port last Friday, according to a report from Seatrade Mariitme.
Operations at the Netherlands-based FedEx subsidiary are slowly but surely coming back online after experiencing havoc late last month when a computer virus ravaged critical business systems.
The liquid bulk carrier Argent Cosmos, a seven-year-old, 557-foot vessel managed by Singapore-based Tokyo Marine Asia, was loaded with over eight million gallons of ethanol and other chemicals when it ran aground July 6 near Skamokawa, Wash.
The South Korean ocean carrier signed a memorandum of understanding with Saigon Newport Corp. for the joint development of port and container depot facilities in Vietnam.
The United States increased its amount of beef, pork and lamb exports in terms of volumes and value in May compared to a year prior, according to data from the U.S. Department of Agriculture and the U.S. Meat Export Federation.
Janel Group, Inc. names new president, while the U.S. Army Corps of Engineers, Charleston District appoints new commander.
EU registration of steel The European Union now requires imports of corrosion resistant steel from the People’s Republic of China to be registered. EU-Canada trade agreement The European Union and Canada have agreed to begin operating under the Comprehensive Economic and Trade Agreement in September 2017, per discussions at the G-20 summit in Hamburg. Export […]
After the purchase, container carriers COSCO Shipping Lines and OOCL will continue to operate under their respective brands, with a combined fleet of 400 vessels with capacity exceeding 2.9 million TEUs including orderbook, the companies said Sunday.
Under the terms of the deal, Chinese conglomerate COSCO Shipping will own 90.1 percent of Orient Overseas International Ltd., parent of Hong Kong-based container carrier OOCL, while Shanghai International Port Group will hold the remaining 9.9 percent.
The European Union and Japan have reached a political agreement in principle on a economic partnership agreement European Commission officials say “will be the most important bilateral trade agreement ever concluded by the EU.”
Moving one step closer to completion, Japanese carriers MOL, NYK and “K” Line have now established an integrated container shipping business via operation and holding companies in Singapore and Tokyo, respectively.
Shipment volumes grew 7.1 percent in May 2017 compared to the year prior, confirming the first positive indication in October 2016 was a change in trend and not a one-off anomaly, according to the latest Cass Freight Index Report.
