Zim Integrated Shipping Services entered the final stages of a debt restructuring programme after posting a mixed set of first quarter results where the carrier managed to reduce the size of its loss despite falling revenue.
Cosco Container Lines (Coscon) is placing an order for five 14,000 TEU vessels as it continues with an aggressive tonnage scrapping programme to revitalise both its fleet and its flagging profits.
Members of the International Longshore and Warehouse Union ratified a new collective bargaining agreement with grain handlers in the Pacific Northwest, ending a two-year battle between the two parties.
Small Malaysian container line and regional feeder operator PDZ released its full-year results, and once again the destructive impact of weak freight rates was evident in the financials despite the line posting a pre-tax profit.
Sical Logistics Ltd., India’s leading multi-modal logistics provider, is selling its 40.92 percent stake in Ennore Automotive Logistics, an automobile port yard joint venture with Japanese shipping group Mitsui O.S.K. Lines.
The 13 ports owned by the national government in India are “wilting under the onslaught of competition from new private ports,” being way behind in areas like dredging and losing substantial market share over the past 20 years, according to LiveMint, a financial news service.
North American vehicle production is on the rise amid strong demand for vehicles in the NAFTA countries and foreign markets.
Iceland’s Bardarbunga volcano has kept the local meteorological office busy, with the red level warning being
The race is on to clear Manila’s congested terminals before the arrival of Christmas cargo at the Philippine’s main import-export gateway in early September.
The Indian federal government has approved a proposal to delegate more project approval authority to the Ministry of Road Transport and Highways in a bid to minimize delays in awarding of concession contracts.
Rickmers Group said “strained” markets, currency exchange and weak charter rates contributed to revenue and profit declines in the first half of 2014, and that conditions will remain difficult through the rest of the year.
NYK Line in May took delivery of the first post-Panamax car carrier built in Japan. Dubbed the Aries Leader, the new pure car carrier not only boasts a capacity of 7,000 vehicle units, but also a wide range of energy-saving technologies not found on other such vessels.
At least two ocean carriers are cutting intermodal fuel surcharges for dry and refrigerated shipments to and from the United States, effective Oct. 1, as a result of falling diesel prices.