Bunker prices sank an additional 8 percent last week, as a six month spiral has now led to a 50 percent decline in fuel prices.
The air freight business has just completed its best peak season in years, but the International Air Cargo Association (IATA) has presented a sobering picture of an industry enjoying a cyclical upturn while struggling to overcome structural problems.
The Japanese government has recently expressed concern to the U.S. government regarding the delays of U.S. forage exports because of U.S. West Coast port congestion, according to an agriculture shipper group.
Container volume handled by the Alabama State Port Authority rose 10 percent year-over-year in the fiscal year ended Sept. 30, helping the authority post record revenue for its fiscal year ended Sept. 30.
DP World’s Indian facility, Mundra International Container Terminal, said it broke the one-million-TEU mark for the first time in its fiscal year that ends Dec. 30.
Spot rates in the eastbound trans-Pacific responded to carrier rate increase attempts by jumping about 40 percent this week, Drewry Maritime Research said.
Another set of historic rate increases are on tap for the trans-Pacific, as the 15 members of the Transpacific Stabilization Agreement announced hikes totaling $1,000 per FEU.
Truckload operator The Dart Network is raising pay for its company drivers and owner-operators, joining a growing legion of carriers boosting pay to attract truck drivers.
Japan’s trade surplus with the United States expanded by a whopping 20.4 percent in November on a year-on-year basis, as exports grew relatively strongly while imports fell, according to preliminary trade figures released by the Japanese Finance Ministry on Wednesday
World Shipping Council President and CEO Chris Koch in late July will hand over the reins of the trade group representing major container lines.
Rising volumes propelled FedEx profit up 23 percent year-over-year to $616 million in its second quarter ended Nov. 30, the second-largest U.S. transport operator reported today.
Maersk Line is merging its MECL1 and MECL2 services connecting the Middle East, India and the U.S. East Coast into a single weekly loop, beginning in mid-January 2015.
APM Terminals said one its nw Rotterdam terminals will be the first in the world to have a zero-emission footprint, thanks to a two-year contract to buy wind-generated electricity.