The G6 carriers — APL, Hapag-Lloyd, Hyundai Merchant Marine, MOL, NYK, and OOCL — filed their agreement on Dec. 2, and it is slated to go into effect Jan. 16 unless the FMC delays that date by asking for additional information.
The Asian Shippers Council (ASC) at its annual meeting on this week in Shenzhen, China, has objected to the proposal by Maersk, MSC and CMA CGM to form the P3 Network. The group said the vessel-sharing agreement by the world’s three largest container shipping companies would result “in the biggest concentration of capacity […]
Intertanko said, “Vetting inspections of tankers by oil companies are proliferating in frequency, rising steadily in cost and, at an estimated $300 million a year, are well on the way to running out of control.”
Frank Peake was sentenced to serve five years in prison and made to pay a $25,000 criminal fine for his participation in a conspiracy to fix rates and surcharges for freight transported between the continental United States and Puerto Rico.
APL Logistics today opened its first APL Logistics/Carmichael International Service customs brokerage office in Laredo, Texas. APL Logistics, the supply chain management unit of Singapore’s NOL Group, acquired U.S. customs brokerage and trade compliance firm Carmichael International Service in 2012. Carmichael offers traditional customs brokerage, trade compliance, consulting and transportation services. The […]
Two shipping analysts are warning of containership over capacity in commentaries released today. In the latest edition of its Container Insight Weekly, the London-based consultant Drewry said it believes the current orderbook of 8,000-TEU to 10,000-TEU contanerships is excessive. Meanwhile, Johnson Leung and Benjamin Wang of the investment bank Jefferies said, “More […]
The Virginia Offshore Wind Development Authority, the City of Norfolk, and the Virginia Ship Repair Association have joined forces with Environment Virginia to promote the economic and environmental benefits of supporting offshore wind power and its related supply chain industries to Capitol Hill lawmakers. “Hampton Roads is known for its tremendous maritime workforce, […]
The United Nations Conference on Trade and Development (UNCTAD) has released its annual Review of Maritime Transport, a 204-page book that can be downloaded online. The 2013 review notes that its Liner Shipping Connectivity Index (LCSI) and analysis of container ship deployment finds that there are two important trends over the last 10 […]
The Federal Maritime Commission voted Thursday to approve a request for additional information from the parties to the proposed P3 Network Vessel Sharing Agreement — Maersk, MSC and CMA CGM. The request for additional information delays the effectiveness of the proposed agreement, which was poised to go into effect this Sunday, even though […]
The Port Authority of New York and New Jersey this week authorized $105 million for the design, construction and realignment of roadways in the Port Newark-Elizabeth complex in New Jersey.
The U.S. Export-Import Bank has authorized a $640.7 million direct loan to Star Refineri A.S. of Istanbul, Turkey, which will finance the export of American-made oil refinery equipment and support about 3,000 U.S. jobs. The American-made equipment will factor in Star’s construction of an oil refinery in Aliaga, Turkey, about 30 miles north […]
The Federal Maritime Commission has released 83 pages of comments from shippers, ports, government officials and others about the proposal by Maersk, MSC and CMA CGM to create a global P3 Network on the major East-West trade lanes.
“Joint ventures are part of Zim’s ongoing strategy,” Rafael Ben-Ari, Zim’s vice president, shipping, said. “Our aim, as always, is to improve the services to our customers.” Any cooperative agreement will be subject to FMC approval.
Millard Maritime, a Gulf Coast port and cargo services provider, has partnered with HELM Fertilizer Corp. to handle fertilizer products at Millard’s facility in Theodore, Ala. HELM’s fertilizer products will come from Trinidad and other locations worldwide. The new agreement takes effect upon completion of an automated bulk storage warehouse, Millard Maritime said. […]
The U.S. Commerce Department on Wednesday reported that the country’s exports of goods and services for October reached an “all-time monthly high” of $192.7 billion, up from $189.3 billion in September, with record petroleum exports.
Sweden announced Dec. 3 the launch of a new trade facilitation training facility in Arusha, Tanzania. The Swedish government, through its development agency Sida, will provide an initial grant of about $1.6 million per year for 2014-2015. The World Trade Organization, the UN Conference on Trade and Development (UNCTAD), the World Bank […]
A group of countries with a tradition in obtaining and importing illegally procured elephant ivory in Africa committed this week at the African Elephant Summit in Botswana to stiffer measures to halt this trade. The measures were agreed on by key African Elephant range states including Gabon, Kenya, Niger and Zambia; ivory transit […]
Reportedly a stolen shipment of radioactive Cobalt 60 was recovered Wednesday in Mexico, but thieves who took the material probably exposed themselves to a lethal dose of radiation when they removed it from a protective case. The Washington Post said the cargo was found near the town of Hueypoxla, about 25 miles from […]
Hapag-Lloyd and CSAV said they “are currently maintaining discussions if a possible business combination or any other form of association would be of mutual interest.” The German and Chilean container shipping companies said “to date, these discussions have not resulted in any binding or non-binding agreement between the parties.” They added in […]
The Port of Jacksonville said $12.4 million has been spent over the past 18 months improving the heavy lift cargo berth at JAXPORT’s Blount Island Marine Terminal. The project more than doubled the capability of JAXPORT’s Berth 31.
