The U.S. Department of Agriculture on Thursday released a report forecasting that the country’s agricultural exports will reach $149.5 billion, an estimated $6.9 billion higher than previous estimates and a new record, if realized. USDA’s latest Outlook for U.S. Agricultural Trade report “indicates that the record growth is due not just to rising […]
The private equity firm Rotunda Capital Partners has acquired a majority stake in Amware Logistics Services, a provider of third-party warehousing and fulfillment solutions headquartered in Eagle, Colo.
Danmarks Skibskredit (Danish Ship Finance) says in its most recent Shipping Market Review that there continues to be a “massive” surplus in the supply of containerships, particularly large vessels. In 2013, it said, the nominal supply surplus widened by 4 percentage points, and average container rates fell 8 percent. It added, “Shipowners made […]
The Israel-based container carrier ZIM said it had a net loss in the first quarter of $62 million, 45 percent smaller than the $112-million loss it had in the first quarter of 2013.
CMA CGM said it and NileDutch will upgrade a service between the East Coast of South America and West Africa. CMA CGM said larger vessels will operate in what it calls the SAMWAF service, with calls in Lomé, Togo and Rio de Janeiro, Brazil, being added. There will be transshipment opportunities, CMA […]
CMA CGM, the third-largest container carrier in the world, had revenue of $3.94 billion in the first quarter of 2014, compared to $3.84 billion in the first quarter of last year, it said, with a consolidated net profit of $97 million.
Suttons Group, a U.K.-based chemical logistics services firm, has entered a partnership with Mexican freight forwarder ROVESA. The partnership will provide a range of logistics and supply chain services, including trucking, international and domestic ISO tank transport, tank cleaning, repair and maintenance, and customs brokerage, Suttons said. “Mexico is an important region […]
The World Trade Organization on Friday sided with the United States in a major case against China for unfair trade practices against imports of U.S. automobiles. A WTO dispute settlement panel agreed with the United States that China’s imposition of antidumping duties and countervailing duties on American-made cars and sport-utility vehicles breached numerous […]
NYK said it took delivery Tuesday of a new car carrier, Aries Leader, which is the first post-Panamax car carrier in Japan. The ship, capable of carrying 7,000 units, was built at Shin Kurushima Dockyard’s Onishi Shipyard.
United Arab Shipping Company said Kuwait’s Burgan Bank has agreed to provide a loan for the acquisition of two 14,000-TEU ships, saying it had concluded a bilateral facility worth $190 million.
North American supply chains will be strongly affected over the next three months by the negotiations for a new contract between the ILWU and employers, said Noël Perry, managing director and senior consultant at FTR.
Sea Star Line, which operates a liner service between the U.S. mainland and Puerto Rico, said Thursday that effective June 2, it will introduce a new chassis program for shipments moving to and from the Southeast United States.
The private equity firm Lincolnshire Management is reportedly repurchasing the automotive terminal and processing company AMPORTS from Highstar Capital, six years after selling it to Highstar. Industry sources confirmed the sale to American Shipper, but neither AMPORTS, nor Lincolnshire, nor Highstar executives could be reached immediately for comment. AMPORTS has operations in […]
The number of containerships in long term layup is decreasing, according to information service Alphaliner. In its May 13-29 newsletter, the Alphaliner said there are “currently 45 containerships of over 500 TEUs that have been idle for more than six months, including 31 units idle for over 12 months.” It said, “At […]
The Port of Cleveland’s board of directors on Wednesday approved up to $110 million in bond financing to help American Greetings Corp. in building its new headquarters at Crocker Park in nearby Westlake, Ohio. American Greetings, one of the world’s largest greeting card producers founded in Cleveland more than 100 years ago, had […]
The P3 Network, an operational and vessel-sharing alliance planned by Maersk, MSC and CMA CGM in the major East-West trades, now expects to start operations in fall of 2014 instead of in the second quarter of this year.
Carrier Transicold has introduced a new anti-tamper refrigerant seal system to offer a higher level of refrigerant integrity and traceability for container refrigeration systems. The company said the system is designed to prevent unauthorized refrigerants from being used in Carrier Transicold container units, addressing industry concerns about risks related to contamination by improper […]
A.P. Moller-Maersk, the Danish conglomerate that owns Maersk Line, APM Terminals, Damco and other businesses, reported a profit of $1.2 billion for the first quarter of 2014, compared with the $790 million it earned in the same period in 2013. Revenue was $11.7 billion in the first quarter of 2014 compared to $11.6 […]
The U.S. Justice Department said Jordan-based Arab Ship Management Ltd. pleaded guilty Tuesday in federal court in Wilmington, Del., to one count of violating the Act to Prevent Pollution from Ships. According to the plea agreement, Arab Ship Management was sentenced to pay a criminal penalty of $500,000 and placed on probation for […]
SeaIntel says the ships of the carriers in the new G6 Alliance will spend 3.4 percent more time in port, but increase average vessel capacity 8 percent when compared to the New World Alliance and Grand alliances.
