A container-on-barge and rail shuttle service in the Pacific Northwest is preserving the ability of exporters of agricultural and paper products in the region to serve their customers in Asia since the Port of Portland lost well over 90 percent of its container volume earlier this year due to a prolonged labor dispute.
Krishnapatnam Port Container Terminal’s efforts to grow throughput received a push last week when Hyundai Merchant Marine via its Asia-Chennai Service made an ad-hoc call at the private, minor facility on India’s east coast as part of what the Korean carrier called a “market evaluation drive.”
Talks between state-owned giants Cosco and China Shipping will continue into the new year, the groups said in exchange filings, six months after trading in shares of their listed subsidiaries was suspended.
With spot rates on imports from Asia approaching $900 per 40-foot container to the U.S. West Coast and $1,700 to the East Coast, cargo interests that played the spot market rather than shipping most of their imports under service contracts this year are big winners.
The future of the southern Brazil port of Itajai is once again in the balance as federal authorities refuse to release the urgently needed funding for emergency dredging to restore the 41 to 42.6-foot draft of the port following heavy rains from El Nino.
Freight transportation is a hot target market for companies that want to emulate the success of Uber, kayak.com and Airbnb. A truck is not a taxi, however, and the "shared economy" in the freight world will likely look different than it does in other markets.
Spot freight rates in container trades should stage a marked recovery next year, but short lived successes with general rate increases should not be regarded as evidence of a fundamental improvement between supply and demand, a senior shipping analyst said.
The worst reading from the Institute for Supply Management’s Purchasing Managers Index in three years signals a slowdown in freight for less-than-truckload carriers to haul.
Seven out of 10 global shippers lack the visibility in their supply chains needed to prepare and respond to disruptions — whether they are port labor slowdowns, natural disasters or something else.
As it gets closer to a $1.35 billion acquisition by DSV, logistics company UTi Worldwide opens new multimodal facilities in Southeast Asia to speed freight to Europe and the U.S.
Construction of intermodal rail facilities and rebuilding of ship berths are the largest items in the Port Authority of New York and New Jersey’s $175 million capital spending plan for its seaport unit during the coming year.
Russia and China plan to spend $3 billion to build two rail corridors aimed at encouraging the movement of containerized freight from the northeastern provinces of China to Russia’s Far-East ports.
Hapag-Lloyd is buying back $125 million of a costly U.S. dollar bond two years before it is due to mature in a bid to improve its capital structure and reduce interest payments.