Concluding the final stage in its merger with Hapag-Lloyd, CSAV injected 259 million euros ($317 million) into the combined company and in doing so increased its shareholding to 34 percent in what is now the world’s fourth largest container line.
26 Jul 2014
The International Longshore and Warehouse Union and the Pacific Maritime Association met for three days this past week without concluding negotiations; at the weekend, the parties announced a week-long recess in the talks. German carrier Hamburg Süd announced plans to acquire the container operations of Chile’s CCNI, in a move resembling the deal between larger competitor Hapag-Lloyd and Chile’s CSAV, and Crowley is reported to be in talks to acquire Horizon Lines’ Puerto Rico assets. Earnings reports by U.S. truckload carriers are pointing to a stronger freight recovery in the United States, though rail service continues to be held back. And on Friday, Anne S. Ferro announced her departure from the Federal Motor Carrier Safety Administration after five years leading the agency.
25 Jul 2014
Hamburg Süd has signed a preliminary agreement to acquire the container operations of the Valparaiso, Chile-based Compañía Chilena de Navegación Interoceánica, or CCNI, by Dec. 31, 2014.
23 Jul 2014
German banks’ toxic shipping loans are a matter of concern ahead of the European Central Bank’s stress tests, the International Monetary Fund warned.
15 Jul 2014
The port of Antwerp’s container traffic rose around 5 percent in the second quarter of the year, more than five times the increase in the first three months...
12 Jul 2014
The International Longshore and Warehouse Union and the Pacific Maritime Association surprised watchers by announcing a 72-hour hiatus in their negotiations so that the union could deal with unrelated talks in the Pacific Northwest, and by extending the expired coastwide contract during the suspension of negotiations.
10 Jul 2014
Lufthansa Cargo is cutting freighter capacity in response to continued weakness in global cargo demand that saw its volume slump by 8 percent year-on-year in June with no signs of a pickup in sight.
09 Jul 2014
The European Union has opened an in-depth investigation to determine whether tax breaks for publicly owned Dutch ports, including Rotterdam, breach its state aid rules.
07 Jul 2014
Endochoice, a six-year-old Atlanta-based importer of medical devices and disposable infectious control supplies and services for gastroenterologists, most of whom were in the U.S., had to reengineer its global supply chain last year when it acquired high-tech medical companies in Israel and Germany and began to manufacture and distribute a sophisticated new system for colonoscopies internationally.
02 Jul 2014
UPS will invest about $1 billion of its $2.5 billion budget for capital expansion over the next three to five years in the European market, new comments from the company’s CFO confirm.
01 Jul 2014
Former Damco head Rolf Habben Jansen takes over as CEO of Hapag-Lloyd, effective today.