Traffic is moving this morning on Dave Nesbit road along Port Canaveral’s southside after being shut down since May for reconstruction. The project involved road realignment, installation of underground utilities, new sidewalks and paving from George King Boulevard in front of the port’s Welcome Center to Mullet Road. It’s part of a $6 million Cove […]
Menzies John “Jock” Menzies, chairman of Baltimore-based The Terminal Corp. and founder of the American Logistics Aid Network (ALAN), died suddenly this weekend at his home. He was 69. The Capital Gazette of Annapolis, Md., reported that Menzies sustained severe injuries at the family’s property on Friday when a cable trolley system connecting […]
“To put this growth into context, the 186 million TEUs which this growth represents is the equivalent of the entire throughput of all Chinese ports in 2012. Or to put it another way, it is more than the entire 2012 throughput,” the consultant said.
The Chilean container shipping company CSAV said it has priced a rights offering for 6.75 billion shares of stock it is selling at about 4.88 cents per share. The company said based on the price it expects to collect funds of about $330 million. CSAV’s board approved a capital increase of $500 million […]
T. Parker Host Jr., the owner of the steamship agency T. Parker Host Inc., died on Sunday in Virginia Beach, Va., at the age of 88. After serving in the Army Air Corps, he joined the company in 1948, which was founded by his father. He served as both president and chairman of the […]
The private equity firm KKR said Tuesday it has formed a new business, Maritime Finance Co., that will focus on lending to the offshore oil field services and traditional shipping sectors to “fill a void left by exit of traditional lenders.” Led by former Helios Advisors partners Kristan Bodden and Gabriel Tolchinsky, Maritime Finance […]
In this role, Tom Nightingale will be responsible for growing revenue and expanding GENCO’s logistics business. Today, the Pittsburgh-based 3PL firm manages more than $1.5 billion in freight annually.
Maersk said it will implement a general rate increase on Sept. 16 for cargo leaving Houston and New Orleans to Chile, Peru, Ecuador, Bolivia and Colombia. The rate will be $150 per 20-foot, 40-foot, 40-foot high cube, and 45 foot dry boxes.
Navios Group, composed of three New York Stock Exchange-listed affiliates – Navios Maritime Holdings Inc., Navios Maritime Acquisition Corp., and Navios Maritime Partners L.P. – said a new company, Navios Europe, has been formed as the next step in concluding a deal with HSH Nordbank, first announced in April, to acquire five container vessels […]
“This convention is a milestone in maritime history,” said ILO director-general. “The product of tripartite dialogue and international cooperation, it enables decent working and living conditions for seafarers.”
SeaIntel Maritime Analysis said the proposed P3 Network of Maersk Line, Mediterranean Shipping Co. and CMA CGM will be a difficult for competing carriers to challenge on the Asia-Europe trade lane in terms of economies of scale, where lower unit cost becomes essential to all the carriers engaged in this trade. The company also believes […]
“We are concerned that in using the trade laws to disrupt a number of legitimate, responsible and long-term supply relationships, the ITC has allowed domestic industry OCTG producers to misuse the trade laws again,” AIIS warned.
Harold J. Daggett, president of the International Longshoremen’s Association, will meet with members of the union Monday evening. ILA members rejected the local contract by a vote of 520 to 483 on Aug. 12.
Shipping industry analysts at the brokerage firm Jefferies wrote in a new research note that they “see risk of new shipbuilding orders delaying the recovery of the shipping industry as much as they did during the last extended downcycle for shipping between the 70s and 90s.” “Container shipping has seen the most new […]
C.H. Robinson Worldwide has appointed Ivo Aris to director of global forwarding for its European operations. A 20-year industry veteran, Aris has held responsibilities in sales, operations, and management at Road Air, which was acquired by the Rhenus Group in 2007. Aris became the country manager for air and ocean freight for the […]
Senators Patty Murray and Maria Cantwell are proposing to replace the tax with the “Maritime Goods Movement User Fee,” which would apply to all entry points for U.S.-bound cargo, with proceeds going toward port upkeep.
A.P. Moller-Maersk reported a profit of $856 million in the second quarter ending June 30, 11 percent less than the $965 million earned in the second quarter of 2012. Nils Andersen, the chief executive of the group, said the performance of Maersk Line, the world’s largest container line, was a “bright spot” in […]
The Suez Canal Authority said 68 ships crossed the canal with a record total load of 4.8 million tons on August 9, but concerns are rising about the impact of the Egyptian unrest.
Nippon Kaiji Kyokai (ClassNK ), the Japanese classification society, said Wednesday that its analysis of the break-up and subsequent sinking of the containership MOL Comfort “is proceeding rapidly, and ClassNK expects to consolidate its preliminary findings by early September 2013.” “Based on the current findings of the ongoing investigation and analysis, the ClassNK […]
The National Industrial Transportation League has requested assistance from the U.S. Government in obtaining clarifications on a value-added tax being imposed by the Chinese government.
