The Malaysian shipping conglomerate has entered into an agreement to sell its entire stake in the wholly-owned subsidiary MISC Integrated Logistics Sdn Bhd to Swift Haulage Sdn Bhd.
The price of an average container fell 15 percent during the first quarter of 2016, according to a recent report from London-based shipping consultant Drewry Maritime.
Freight forwarders and air cargo companies must move quickly to improve business models and implement sophisticated analytics, according to Michael Bentley of Revenue Analytics.
GE’s Marine Solutions signed a contract to provide its new power take off/power take in technology to ocean carrier Maersk Line for 11, second generation 19,630-TEU Triple-E containerships.
The French ocean carrier commenced the weekly Baltic Levant Express, operating between North Europe and the Mediterranean with six vessels.
Shares of the fellow China-owned shipping conglomerates, which recently merged at the behest of the Chinese government, jumped as much 9.9 percent and 10 percent, respectively, in Shanghai trading yesterday.
Asian container volumes at JAXPORT surged 16 percent year-over-year to 157,689 TEUs for the first six months of fiscal year 2016, which commenced Oct. 1, 2015.
Stock in South Korea’s second-biggest container carrier fell the most in three weeks in Seoul trading on uncertainty over whether the company would obtain deep discounts for rates on leased vessels in its negotiations with shipowners.
The United States is about to import the largest wheat cargo from the UK in more than two decades as a combination of ample British supply, a weaker pound and rock-bottom freight rates make the unusual trade viable.
The parcel giant and peer-to-peer e-commerce platform are teaming up to make it easier for new customers eager to sell their unwanted smartphones, designer handbags and golf clubs on EBay’s online auction site during spring cleaning season.
The Brownsville Navigation District signed an agreement with West Plains LLC to modernize and reactivate the grain elevator.
Saddle Creek appointed chairman and CenterPoint Properties named VP on West Coast, while LOC Group appointed COO and CSafe Global announced sales director for France and Spain.
Although visibility is often used synonymously with global transportation management systems, it’s actually a layer atop true global TMS platforms, according to Kewill VP of multimodal transportation solutions Walt Heil.
Neptune Orient Lines attributed the loss to deteriorating freight rates, but anticipates the proposed acquisition of APL by CMA CGM should help the company regain profitability.
U.S. Customs and Border Protection said it has seen more importers and customs brokers filing import documents in its new computer system.
The ousting of the co-founder of high profile Southern California-based truckload capacity marketplace Cargomatic, often referred to as the “Uber of trucking,” follows drastic staff reductions in March.
The London-based shipping consultant is predicting that carrier profit margins this year will be influenced by big swings in both prices and costs.
The current monetary policy environment is hurting the industry by delaying a badly needed wave of consolidation, according to A.P. Moeller-Maersk A/S CEO Nils Smedegaard Andersen.
Exports from China in April grew 4.1 percent in yuan terms compared with the same 2015 period, while the country’s imports extended a streak of declines to 18 months, according to data from the Chinese customs administration.
First quarter 2016 earnings from Berkshire Hathaway Inc.’s railroad subsidiary fell 25 percent to $784 million compared with the first quarter of 2015, primarily due to falling coal volumes.
