The Shanghai Containerized Freight Index fell 7.6 percent from last week to a reading of 794.10, as the short-term boost spot rates experienced in recent weeks from Hanjin filing for bankruptcy have now subsided.
The recent declaration of bankruptcy by South Korean ocean carrier Hanjin Shipping is a symptom of what ails the container shipping industry, not the cure, as some analysts seem to suggest.
In addition, the port authority’s commissioners approved a $3.4 million contract with Hatch Associates Consultants to develop a long range maritime master plan for future growth.
U.S. Rep. Janice Hahn, D-Calif., said ports and customers need to be better prepared for instances of container lines going out of business.
The World Trade Organization ruled in favor of the United States in a long, drawn out dispute with the European Union and four of its member countries over subsidies to aircraft manufacturer Airbus.
APM Terminals appointed A.P. Moller Shipping Services Chief Executive Morten Engelstoft to succeed current CEO Kim Fejfer, who will be taking up a new role at APM Holding A/S, according to a statement from the company.
Thirty-five of the 97 containerships operated by the now insolvent South Korean ocean carrier have completed cargo unloading, Korea’s Yonhap News Agency reported Friday.
The Office of the U.S. Trade Representative acknowledged that China’s Ministry of Agriculture has lifted a ban on U.S. beef imports, but said it’s only a “critical first step” to restoring market access to American meat shippers.
At only 10 years old, the 4,530-TEU Viktoria Wulff, owned by Erste RHW Schiffahrts and flagged in Liberia, is the newest containership so far this year to have been sold for scrap, according to Clarksons Research.
Sealed Air Corp. chose XPO Logistics to manage its warehouse in Sturtevant, Wis. effective Jan. 16, 2017, with UTi Integrated Logistics ceasing operations at the facility Jan. 15.
Meanwhile, at its London Heathrow hub, IAG Cargo is establishing a new freight facility, which is set to commence operations in 2018 and will be twice the size of its existing Premia facility at the airport.
The Port of New Orleans elects board chairman, while CHA Consulting names head of Transportation Group.
The U.S. Federal Maritime Commission has received 37 ocean transportation intermediary license applications and changes for review. The FMC received non-vessel-operating common carrier license applications from A-Logixtic Group, Houston (Naeem Iqbal, manager); Aero Service Transport, Miami (Jose A. Romero, president); Extrans Lax, Rancho Dominguez, Calif. (Kyung Min Kim, vice president); Florida Export Shipping Corp., […]
The U.S. Federal Maritime Commission has received 37 ocean transportation intermediary license applications and changes for review.
The U.S. Federal Maritime Commission has received 37 ocean transportation intermediary license applications and changes for review.
The second-phase of expansion at the Virginia International Gateway container terminal will soon commence now that the Virginia Port Authority has secured a long-term commitment to operate the facility.
Meanwhile, the Port of Oakland said the softening of the U.S. dollar has resulted in an increase in the port’s loaded export volumes, which rose 8.8 percent year-over-year for the first eight months of 2016.
The association, which represents independent truck drivers, said Congress should not mandate the devices on commercial vehicles, and instead let the regulatory process play out.
Following the recent collapse of Hanjin Shipping, “there will be a wave of consolidation” in the industry and CMA CGM could participate even after its recent purchase of APL parent Neptune Orient Lines, according to vice chairman Rodolphe Saadé.
According the Associated Press, the U.S. Treasury’s Office of Foreign Assets Control has granted permission to Boeing and Airbus to export commercial aircraft to Iran.
