Nineteen container ships were anchored outside the congested ports of Los Angeles and Long Beach Saturday morning, according to the Marine Exchange of Southern California.
Months of severe congestion caused container shipping line on-time performance to plunge nearly across the board in 2014, according to Danish research firm SeaIntel Maritime Analysis.
Harbor truckers in Los Angeles-Long Beach are preparing to legally challenge the International Longshore and Warehouse Union and marine terminal operators as soon as union mechanics attempt to detain trucker-owned or leased chassis at the ports under a reported agreement the ILWU reached with employers last week in coastwide contract negotiations.
Shrugging off the economic downturn in its home market, Russia’s AirBridgeCargo Airlines boosted traffic 17.6 percent in 2014, its 10th anniversary, even as leading Western airlines continued to downsize their freighter operations.
OOCL plans to upgrade its intra-Asia service network by joining the Singapore-Chennai 2 (SC2) service operated by Wan Hai Lines and Bengal Tiger Line, starting in early February.
Strong gains across multiple segments, particularly intermodal, fueled a 70 percent year-over-year increase in Gateway Distriparks Ltd.’s consolidated net earnings in its third fiscal quarter, which ended Dec. 31.
Japan Airlines reported a 3.1 percent year-over-year drop in group net profit for the first three quarters of fiscal 2014, to 119.684 billion yen (US$1.01 billion), despite a nearly double-digit rise in international cargo revenue.
ANA Holdings’ international cargo revenue surged 20.9 percent year-over-year in the first three quarters of fiscal 2014, helping the largest Japanese airline group post a jump in profit for the April-December period
Sen. John McCain’s amendment to repeal a key provision of the Jones Act failed to make it into a Senate-passed bill authorizing construction of the Keystone XL oil pipeline.
Orient Overseas Container Line (OOCL) saw its revenue rise by 3.5 percent in 2014 to $5.8 billion as the carrier transported 5.5 percent more containers than in the previous year, according to the line’s latest operational update.
On the eve of a host of planned general rate increases, Asia-North Europe spot rates tumbled 8.2 percent this week, shedding most of the sharp gains made since mid-January, according to the latest reading of the Shanghai Containerised Freight Index (SCFI).
Hanjin Shipping ended 2014 with a loss of $386 million, a result that was still an improvement of 37.8 percent over 2013 and was achieved on the back of a vastly improved operating result.
Apple has released its smartphone data for the fourth quarter of 2014, and while soaring sales of the iPhone 6 doubled its market share in China, the numbers also illustrate the close correlation between the air cargo industry and the constantly evolving mobile phone business.