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YRC Worldwide Loses $899 Million in 2009
William B. Cassidy |
YRC Worldwide narrowed its losses last year and in the fourth quarter, but fierce competition and insecurity over its debt-for-equity swap hurt its business, company officials said today.
Trucking News
LTL
China to Penalize U.S. Chicken Imports
Peter T. Leach |
China, the largest market for U.S. chicken exports, plans to impose anti-dumping tariffs of up to 105.4 percent on U.S. broiler chicken imports, starting Feb.
Transport, Trade and Regulation News
Forwarding
Chennai Strike Ends
JOC Staff |
Container truck drivers at India’s southeastern Port of Chennai called off their strike following intense negotiations between the strikers, port officials and terminal management.
Maritime
BA Swings to Profit in Third Quarter
Bruce Barnard |
LONDON – British Airways booked its first operating profit in fifteen months in the final quarter of 2009 but warned it is still heading for a record loss for the full financial year.
Air Cargo
Michigan Renews Carp Fight
R.G. Edmonson |
The state of Michigan is renewing its battle to keep Asian carp out of Lake Michigan. Attorney General Mike Cox announced on Thursday that the state is asking the U.S.
Maritime
Kintetsu World Express Net Profit Plunges 36.6 Percent
Hisane Masaki |
Kintetsu World Express, Japan’s second-largest international forwarder, said its net profit tumbled 36.6 percent in the first nine months of fiscal 2009, which started in April, to $35.64 millio
Air Cargo
Hamburg Cargo Falls 21 Percent
Bruce Barnard |
The port of Hamburg lost significant market share to close rivals Rotterdam and Antwerp last year as cargo traffic crashed more than 21 percent from 2008 and container volume shrunk by even more.
Maritime
Forwarding
Con-way Reports $111 Million Loss for 2009
William B. Cassidy |
Trucking and logistics giant Con-way reported losses both for the fourth quarter and the full year, as overcapacity and aggressive pricing cut into its trucking income.
Trucking News
LTL
Trade Groups Turn to DOT on Harbor Truck Regs
Bill Mongelluzzo |
Retailers and other trade groups appealed for support Thursday from the U.S. Department of Transportation in their case against turning regulation of harbor trucking over to local port authorities.
Trucking News
Trucking labor
White House Launches National Export Initiative
William B. Cassidy |
Commerce Secretary Gary Locke today unveiled details of President Obama’s plan to double U.S. exports within five years to $3 trillion while creating 2 million U.S. jobs.
Transport, Trade and Regulation News
Forwarding
Panalpina appoints Alan G. Votaw as Head of industry vertical Automotive
JOC Staff |
Alan G. Votaw has been appointed as the head of the competence centre for the automotive industry vertical by the Panalpina Group.
Heinz Appoints Bob Ostryniec as Chief Supply Chain Officer
JOC Staff |
PITTSBURGH--(BUSINESS WIRE)--H.J. Heinz Company (NYSE:HNZ - News) today appointed Bob Ostryniec to the position of Chief Supply Chain Officer. In this newly created role, Mr.
A. Duie Pyle Appoints Gordon Mackenzie to Board of Directors
JOC Staff |
WEST CHESTER, PA, February 4, 2010 - A.
Factory Orders, Shipments Gained in December
Thomas L. Gallagher |
New orders and shipments of manufactured goods gained in December, driven by increases in orders for machinery and shipments of petroleum and coal, the U.S. Census Bureau reported Thursday.
Transport, Trade and Regulation News
Hanjin Raises Canada-to-Asia Rates
Thomas L. Gallagher |
Hanjin Shipping will raise rates on Canadian exports to Asia effective March 1, the company announced Thursday.
Maritime
Container lines
Forwarding
STB Rate Decision Disturbs Railroad, Shippers
John D. Boyd |
The Surface Transportation Board’s decision to order freight rate repayments by Union Pacific Railroad to U.S.
Rail News
North-American rail
Stevedore Eurogate’s 2009 Traffic Drops 12.3 Percent
Bruce Barnard |
Eurogate, Europe's biggest container stevedore, said traffic at its 10 container terminals in the North Sea and the Mediterranean declined 12.3 percent in 2009 from a year ago, but it will still book
Maritime
U.S. Freight Index Grows 5.6 Percent
JOC Staff |
An index of U.S. domestic freight demand jumped 5.6 percent in January compared to the same month last year in a rebound from the deepest part of the shipping downturn.
Transport, Trade and Regulation News
Chennai Truck Strike Threatens Cargo Movement
JOC Staff |
Truck drivers at India’s Port of Chennai began a sudden strike Wednesday night, threatening serious delays to cargo moving through the country’s southeastern maritime gateway.
Maritime
Forwarding
Hanjin Posts December Loss After De-merger
Peter T. Leach |
Hanjin Shipping, the new company that runs the South Korean company’s shipping operations, said Thursday it lost $26 million on revenue of $573 million in the month of December, its first full m
Maritime
Container lines
Forwarding
Auto Carriers Stress Multiyear Contracts
Bill Mongelluzzo |
Roll-on, roll-off maritime traffic declined even more last year than container shipping, but ro-ro carriers avoided a bloodbath in rates because of the extensive use of multi-year contracts in the bus
Maritime
Forwarding
Matson Operating Profit Fell 36 Percent
Peter T. Leach |
Alexander & Baldwin said Wednesday that its Ocean Transportation unit, Matson Navigation, earned a fourth quarter operating profit of $13.5 million, which was down 36 percent from the $21.1 millio
Maritime
Container lines
Truckers Target Wall Street 'Speculators'
William B. Cassidy |
Truckers are asking Washington for protection from Wall Street speculators who they say artificially drive up the cost of oil and fuels.
Trucking News
Hazmat Registration Fee Could Triple
John D. Boyd |
Nearly 7,000 companies that qualify as large, for-profit haulers or shippers of hazardous materials would see their federal annual registration fee triple, to $3,000 under a plan designed to shore up
Transport, Trade and Regulation News
CEVA announces Dr. Christopher Stoller as Global Sales Director, Central Europe
JOC Staff |
Frankfurt, Germany, 3 February, 2010 – CEVA Logistics, a leading global supply chain management company, has announced the appointment of Dr.
Intermodal Industry Veteran Derrel E. Chappell Joins Schneider National, Inc.
JOC Staff |
Green Bay, Wis.
CEVA announces new Ocean Product Manager in Canada
JOC Staff |
Mississauga, Ontario, 03 January 2010 – CEVA Logistics, one of the world’s leading supply chain management companies, is pleased to announce the appointment of Mark Lipinski to the position of Ocean P
Port Group ‘Disappointed’ in 2011 Budget
Thomas L. Gallagher |
The nation's largest port group says it is disappointed in Obama administration budget proposals that would leave security and port maintenance programs without needed funding.
Transport, Trade and Regulation News
C.H. Robinson Reports $361 Million Profit
William B. Cassidy |
Surging freight volume in the fourth quarter boosted sales at logistics giant C.H. Robinson Worldwide, but falling rates offset volume increases in many of its transportation services.
Trucking News
Truck brokers
Ryder Profit Fell 69 Percent in 2009
Thomas L. Gallagher |
Ryder System net profit dropped a sharp 69 percent to $61.9 million in 2009, as it closed its money losing supply chain management operations in South America and Europe.
Trucking News
Dedicated Transport Buys All Star Transportation
William B. Cassidy |
Dedicated Transport Holdings is expanding into liquid bulk trucking by acquiring All Star Transportation, a carrier with offices in Clearwater, Fla., and New Castle, Del.
Trucking News
AVIANCA and TACA Officially Close Merger
JOC Staff |
Avianca and TACA officially closed their merger on Tuesday, bringing together two of Latin America’s largest airlines into a single company called Avianca-TACA.
Air Cargo
DOT Pushes Stimulus Payouts to $8.8 Billion
John D. Boyd |
The Department of Transportation pushed a hefty $524 million out to states in the week ending Jan.
Transport, Trade and Regulation News
Dubai World to Sell Shipping Services Unit
Bruce Barnard |
Dubai World's investment wing Istithmar is seeking buyers for Inchcape Shipping Services with an asking price of between $600 million and $700 million, the Financial Times reported.
Maritime
Stevedore HHLA’s Revenue, Profit Shrink
Bruce Barnard |
HHLA, the biggest stevedore in the port of Hamburg, reported revenue and operating profit in 2009 fell steeply from the previous year as container traffic shrunk by a third.
Maritime
Savannah Port Raises Environmental Efforts
Bill Mongelluzzo |
Savannah, the United States’ fastest growing container gateway, is rolling out a series of new environmental initiatives aimed at reducing pollution even as the port adds cargo handling capacity
Maritime
Forwarding
Trans-Pacific Spot Rate Leaps 20.5 Percent
Peter T. Leach |
The spot rate for shipping from Hong Kong to Los Angeles leaped by 20.5 percent to more than $2,000 per 40-foot container over the past week, according to Drewry Shipping Consultants.
Maritime
Container lines
Forwarding
Cummins Reports Record Profit in Fourth Quarter
William B. Cassidy |
Cummins reported its most profitable fourth quarter in its 91-year history, with engine sales jumping 12 percent to $2.17 billion on surging U.S. truck sales last fall.
Trucking News
Administration Shifts DOT Priorities
R.G. Edmonson |
President Obama’s 2011 budget for the Department of Transportation shows an overall 2.3 percent increase compared with 2010 as the administration emphasizes infrastructure projects but hopes to
Transport, Trade and Regulation News
AMB Property Lost $28 Million in 2009
Thomas L. Gallagher |
Industrial real estate owner and developer AMB Property lost $28 million in 2009, as the market bottomed out.
Transport, Trade and Regulation News
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