The effects of the South Korean carrier’s decision to file for court receivership at the end of August is being felt widespread across thousands of businesses throughout the world.
Danish conglomerate A.P. Møller-Maersk is probably best known as the parent company of the world’s largest container shipping company, Maersk Line; the world’s third largest container terminal operator, APM Terminals; and freight forwarder Damco. But the company has always had other dimensions. In recent years, the Maersk Group has narrowed its focus […]
The need for strict adherence to the terms of a letter of credit was made painfully clear in a recent federal appeals court decision to uphold a district court ruling. (Mago Int’l, LLC v. LHB AG. 2nd Circuit. No. 15-2776. Aug.15.) New York-based Mago International agreed to sell chicken, beef, and other meat […]
Terrorism’s long view American Shipper’s editor, Christopher Gillis, makes timely and cogent points in his August editorial about the need for continuing vigilance of security within international supply chains. Since the attacks of Sept. 11, 2001, substantial progress has been made in increasing the security of supply chains, beginning with the Customs-Trade Partnership […]
Liner carriers’ obsession with ever-larger containerships in recent years left them fat with capacity during a persistently ho-hum global market and thus desperate to fill their vessels. For shippers and non-vessel-operating common carriers, this has resulted in rock-bottom freight rates to transport their containers to nearly anywhere in the world. Shippers and NVOs […]
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.
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.
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.
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.
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.
