A.P. Moller-Maersk said it has agreed to sell to NorSea Group the core business activities of its Danbor unit, involved in logistics and services for the wind and oil and gas industries. The sale is expected to be completed by the end of April. Another Danbor’s subsidiary, Maersk H2S Safety Services […]
Foxx U.S. Transportation Secretary Anthony Foxx on Friday appointed 10 new members to the Marine Transportation System National Advisory Council. Established in 2010, MTSNAC is comprised of 29 leaders from commercial transportation firms, trade associations, state and local public entities, labor organizations, and academic and environmental groups that advise the secretary on policies […]
The U.S. Commerce Department on Thursday reported that the country’s exports of goods and services in February fell slightly to $190.4 billion from $192.5 billion in January. However, service exports hit record levels, driven by royalties, license fees and other private services, the department said. In addition, Commerce found about 298,000 U.S. […]
Requirements for U.S. exports to be carried on U.S. flag ships is the subject of legislation moving through Congress. On Tuesday, the House of Representatives unanimously approved The Coast Guard and Maritime Transportation Act of 2014.
The Federal Maritime Commission said Wednesday it has concluded its review of the proposed amendment to the G6 Alliance Agreement and will allow the vessel-sharing agreement to expand into trade between the Far East and the U.S. West Coast, and between North Europe and all U.S. coasts. The Commission’s unanimous decision, based on […]
The U.S. Federal Maritime Commission has received 46 ocean transportation intermediary license applications and changes for review. The FMC received non-vessel-operating common carrier license applications from B&F International, Carson, Calif. (Frank Noah, vice chairman); Conrad E. Lim, Hayward, Calif. (Conrad E. Lim, sole proprietor); Dynamic Multimodal System, Torrance, Calif. (John Kamischke, president); Farenco Logistics, […]
Kuehne + Nagel has expanded its less-than-container-load (LCL) service, opening a new hub in Busan, South Korea, as part of its expansion in the Asia-Pacific region. Busan is K+N’s fourth largest LCL hub in the region after Shanghai, Singapore and Colombo, and will offer 12 new direct services. Operated by Blue Anchor Line, […]
The multipurpose, or breakbulk, shipping sector should see better times following a tough 2013, according to the London-based consultant Drewry.
Hamburg Süd said it did well in 2013 “under difficult business conditions,” and “subdued market growth and operational problems in the vastly overstretched ports in Brazil,” but it does not foresee a sustained recovery in 2014.
Drewry Maritime Research says the container shipping industry “remains in an extended down cycle” due to the entry of new and larger vessels across all trades. The consulting firm’s Container Forecaster reported for the first quarter of the year that “some of these trade routes have also not lived up to expectations in […]
A.P. Moller – Maersk Group and China Shipping (Group) have signed an agreement that they said paves the way for new discussions on more collaboration and joint ventures.
The Government of Jamaica said it has signed a “framework agreement” with China Harbour Engineering Company (CHEC) for the development of a transshipment hub in the Portland Bight, according to the government’s Jamaica Information Service. The service said the proposed transshipment hub, which is part of the Logistics Hub Initiative, is expected to […]
Evergreen Line will join with members of the CKYH alliance — COSCO, “K” Line, Yang Ming and Hanjin — in operating container services to the United States East Coast. It’s the latest mega-alliance among container carriers planning to start service to the United States. A vote last month by the Federal Maritime Commission […]
U.S. steel imports increased in February compared to January by 1.4 percent, according to preliminary government data analyzed by the American Institute for International Steel. “Improved pricing at the end of 2013 and improved demand compared to the weak start to 2013 have created opportunities for importers, and imports have been arriving at […]
Exporters and importers should be developing options to prepare for a possible disruption at West Coast ports this year, said Peter Friedmann, executive director of the Agriculture Transportation Coalition (AgTC).
David Samson, the chairman of the Port Authority of New York and New Jersey, has resigned, effective immediately, said New Jersey Governor Chris Christie on Friday afternoon.
CMA CGM, the third-largest container carrier in the world, said it had a net consolidated profit of $408 million in 2013, 22.8 percent more than the $332 million it earned in 2012. The company’s bottom line was boosted by about $200 million due to one-time events, including the sale of a 49-percent share […]
China Cosco Holdings Co. said last week that profit attributable to equity holders in 2013 was 235.5 million Chinese Yuan Renminbi ($37.9 million) compared to 9.6 billion RMB in 2012. Revenue was 66.1 billion RMB, 3 percent less than the prior year. The company and its subsidiaries are involved in a wide […]
Air freight consolidator AMI has opened offices in Darwin, Australia, and Christchurch, New Zealand. Darwin, the capital of northern Australia, is experiencing a surge in freight business to accommodate large energy extraction projects, such as liquefied natural gas. “The new AMI office will provide freight agents at Australia’s gateways with a local […]
Sluggish demand and increased capacity “led to a notable mismatch between supply and demand,” and freight rates on main trade lanes “showed no substantial recovery and continued to fluctuate at low level,” the company noted.
