With 30 percent volume growth in cargoes to and from the United States during 2015 and its acquisition of the container operations of APL, the French ocean carrier expects to jump ahead of industry leaders MSC and Maersk Line in the U.S. trade lanes.
With a long history and diverse fleet, International Shipholding Corp. (ISC) is one of the more interesting U.S.-based shipping companies. The company was founded by Niels F. Johnsen in 1947 as Central Gulf Steamship Corp. with a single Liberty ship, the SS Horatio Allen, and run for many years by his sons Niels W. and […]
Although one terminal operator leaves, there’s development elsewhere in the Port of Oakland.
In just the last few months, we’ve seen two massive deals in the ocean shipping industry: CMA CGM, already the third largest container carrier, in December made a $2.8 billion all-cash offer to acquire APL parent Neptune Orient Lines from Singapore-owned Temasek Holdings; and shortly thereafter, state-owned conglomerates COSCO and China Shipping announced plans […]
In 2013 the produce company Sol Group hired APL to ship melons from Honduras and Guatemala to Los Angeles. The fruit company alleged APL failed to live up to its contractual commitments. Sol sued APL for breach of contract and fraud in the inducement of the contract. It sought monetary damages and a […]
N.C. port authority expects boost from new intermodal terminal.
Airports Council International attributed the modest growth during the year largely to subdued growth in emerging markets and developing economies, in addition to a more modest recovery in advanced economies.
The overall reading of the Shanghai Containerized Freight Index has continuously declined since Dec. 31, but many ocean carriers will attempt to implement general rate increases starting in March.
The ocean carrier alliance announced it will skip several sailings on its Asia-Europe Loop 6 service for a period of 11 weeks in response to changes in market demand.
The Chinese port handled 2.94 million TEUs of containerized cargo for the month, according to data from the Shanghai International Port (Group) Co.
FedEx Corp.’s archrival said it is appealing the unconditional regulatory approval of the $4.8 billion acquisition “as part of ensuring a fair and thorough investigation,” according to a report in the Wall Street Journal.
The Canadian port reported container volumes rose 4.9 percent year-over-year to 3.1 million TEUs in 2015, a record for Port Metro Vancouver, due to increased trade with Asia.
The board of directors of FedEx Corp. declared a quarterly dividend payable April 1 to shareholders of common stock.
The AS Daily news report “Port of Houston sets container handling record in 2015” yesterday incorrectly stated Port of Houston handled just over 2 million TEUs in 2014. Houston handled 1.95 million TEUs in 2014, and exceeded 2 million TEUs in 2015 for the first time in the port’s history.
The South Korean ocean shipping conglomerate is also seeking relief from financial creditors by selling off various assets and stock, as well as issuing $24.4 million in new shares being purchased by Hyundai Group Chairman Hyun Jeong-eun.
Maersk Line said in a recent statement it would work with Indian authorities to help improve facilities in Alang, but Patrizia Heidegger, executive director of the NGO Shipbreaking Platform, says the move is cost-driven.
Chief Financial Officer of the Jacksonville, Fla.-based railway Frank Lonegro told the Barclays Industrial Select Conference in Miami the company expects a further 20 percent decline in coal volumes in 2016.
An unnamed third party has filed an appeal with the Conselho Administrativo de Defesa Econômica regarding the regulatory body’s approval of a tie-up between FedEx Corp. and TNT Express, according to a joint statement from the companies.
The SEAS1/ASE1 loop, which is currently operated by ocean carriers CMA CGM, Hapag-Lloyd, Hamburg Sud and NYK, is switching from a weekly frequency to fortnightly.
White House officials and ministers from the 10 Association of Southeast Asian Nations met in California this week with the goal to expand economic ties between the United States and the regional trade bloc.
