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YRC Wins Debt Exchange Agreement
JOC Staff |
YRC Worldwide said Thursday it had won the critical support from bondholders the trucking giant needed to rebuild its finances and stave off bankruptcy.
Trucking News
LTL
Workers Ratify Evergreen ILA Contract
Joseph Bonney |
Clerical workers at Evergreen Shipping Agency (America) in Jersey City, New Jersey, ratified a three-year contract negotiated by the company and International Longshoremen’s Association Local 19
Maritime
YRC Will Operate ‘As Usual’ After Exchange Deadline
JOC Staff |
YRC Worldwide said Wednesday the trucking company “will be open for business as usual on Monday” despite its unresolved bid for a financial overhaul and one investment analyst’s sugg
Trucking News
LTL
Norfolk Southern to Reopen Major Coal Pier
John D. Boyd |
The Lamberts Point Coal Terminal, the big Virginia coastal site where Norfolk Southern Railway trains deliver Appalachian coal that can be loaded onto ships for export, should have the first of its tw
Rail News
North-American rail
Long Beach Study Finds Improved Air Quality
Thomas L. Gallagher |
Air pollution at the Port of Long Beach fell significantly from 2005 to 2008, according to a new air quality study commissioned by the port.
Maritime
Customs Makes Remote Filing Permanent
R.G. Edmonson |
Customs brokers and importers have been able to use remote location filing for several years, but until now Customs and Border Protection classified the practice as a prototype program under the Natio
Transport, Trade and Regulation News
President Signs Trade Preference Extension
R.G. Edmonson |
President Obama on Monday signed into law a bill that extends the U.S. General System of Preferences and the Andean Trade Preference Act for one year.
Transport, Trade and Regulation News
European Air Cargo Falls 12.7 Percent
Thomas L. Gallagher |
Freight traffic for European airlines fell 12.7 percent in October, the slimmest decline of a dreadful year in air cargo, helped by a 30.7 percent surge in trade on Middle East routes, the Association
Air Cargo
Air Cargo Forwarder News
Air Cargo Carriers News
SSA Terminals Takes Oakland Complaint to FMC
John D. Boyd |
The Federal Maritime Commission will take up a dispute in which container handler SSA Terminals alleges that Oakland, Calif.’s board of port commissioners gave better facility rental terms to Po
Maritime
Port of Houston to Close Regional Office
JOC Staff |
The Port of Houston Authority will close its New York / New Jersey office effective Jan. 1, 2010. The Houston office will manage customer needs in the Northeast region.
Maritime
Teamsters Postpone Protest in Support of YRC
Thomas L. Gallagher |
The Teamsters Union planned to hold an unusual picketing action outside the offices of Brigade Capital Management in New York to urge the hedge fund to cooperate with YRC Worldwide in its effort to re
Trucking News
LTL
Trucking labor
Pirates Capture Two Cargo Ships
Thomas L. Gallagher |
Pirates captured two ships so far this week and released a third for $4 million in ransom.
Maritime
Truck Shipping Demand Falls 3.5 Percent
Thomas L. Gallagher |
The American Trucking Associations’ Truck Tonnage Index fell 3.5 percent compared with a year ago in November, which the ATA called an improvement after 12 months of steeper declines.
Trucking News
LTL
Antwerp Containers Fall 16 Percent
Bruce Barnard |
Antwerp, Europe's second largest port, handled 16 percent fewer containers in 2009 than in 2008, losing market share to its main European rival Rotterdam for the first time in several years.
Maritime
Forwarding
Rotterdam Container Traffic Falls 10 Percent
Bruce Barnard |
The Port of Rotterdam's container traffic fell 10 percent in 2009 from a year ago, but Europe's biggest box hub boosted its share of the key Asia-Europe liner shipping trade.
Maritime
Forwarding
NYK Opens Hyderabad Agency
JOC Staff |
Japanese carrier NYK Line opened its own agency office at Hyderabad, a major inland cargo location in the southern state of Andhra Pradesh, India.
Transport, Trade and Regulation News
Container lines
Concor's Rate Hike Draws Protests
JOC Staff |
Container Corp. of India, the state-owned intermodal logistics provider, will increase its freight charges by about 6 percent, effective Jan. 8, 2010.
Rail News
YRC Extends Offer Deadline, Claims New Support
JOC Staff |
YRC Worldwide extended its debt-for-equity swap to the eve of a crucial debt payment deadline on Wednesday as the trucking giant and its unionized drivers raised the pressure on bondholders to accept
Trucking News
LTL
Trucking labor
Hamburg-Sud Revenue Drops 29 Percent
Bruce Barnard |
Hamburg-Sud booked what it called a "small" loss in 2009 as revenue and cargo volume declined by double digit percentages, the chief executive of Germany's second largest ocean carrier said.
Maritime
Container lines
Forwarding
JFK Airport Reports Busiest Freight Month in 2009
JOC Staff |
New York’s Kennedy International Airport saw its busiest month for cargo in 2009 in October as tonnage fell 11.5 percent from the same month a year ago, the slimmest decline so far this year.
Air Cargo
Weather Dampens Norfolk Southern Coal Operations
John D. Boyd |
Norfolk Southern Railway is telling customers it is keeping in place a “force majeure” declaration for coal deliveries, after absorbing damage to its big ocean terminal for coal loadings o
Rail News
North-American rail
Rail Jobs Sink to New Low
John D. Boyd |
The U.S. lines of the seven Class I freight railroads cut 1,923 jobs in the month to mid-November, leaving their combined workforce at a new low of 147,097.
Rail News
North-American rail
Freight Forwarder Claims ‘Vindication’ in Contracting Case
JOC Staff |
National Air Cargo founder Christopher Alf said Tuesday he is back in charge of the freight forwarder after winning a key ruling in a dispute over the conflicts between commercial shipping practices a
Air Cargo
Virtual Book Sales Surpass Physical Books
Thomas L. Gallagher |
Book sales in the United States surged during the holiday season, but in a dramatic shift for the shipping world, retailer Amazon.com said this week sales of e-books for the first time surpassed sales
Transport, Trade and Regulation News
EPA Issues Rules to Curb Emissions in U.S. Waters
R.G. Edmonson |
The Environmental Protection Agency is adopting a two-prong regulatory strategy to curb emissions from large ships operating in U.S. waters.
Transport, Trade and Regulation News
Maritime
Arrow Trucking Shipment Hotline Launched
JOC Staff |
Backers of Arrow Trucking’s idled equipment provided a hotline this week for the company’s shippers as the failed flatbed operator revealed it would have to surmount massive financial hurd
Trucking News
DOT Stimulus Checks Top $7.4 billion
John D. Boyd |
In the middle of December, the Department of Transportation sent out reimbursement checks to states that totaled $268 million in the latest week for construction projects under the stimulus law, bring
Transport, Trade and Regulation News
Fesco Logistics Delivers 100-Ton Drill
Thomas L. Gallagher |
Fesco Logistics on Dec. 28 delivered a single piece of construction equipment weighing 100 tons to Novorossiysk, Russia.
Transport, Trade and Regulation News
Forwarding
Diesel Prices Edged Up First Time in Two Months
Thomas L. Gallagher |
Diesel prices edged up for the first time in two months as the national average on Monday climbed six-tenths of a cent to $2.732 per gallon, according to the U.S. Energy Information Administration.
Trucking News
YRC Extends Debt Exchange Offer a Fourth Time
JOC Staff |
YRC Worldwide extended its crucial debt-for-equity swap offer for a fourth time on Wednesday after the financially ailing trucking giant received little new support for an exchange aimed at helping th
Trucking News
LTL
Recovery Hopes Spur Ocean Carrier Stocks
Bruce Barnard |
Ocean container carriers' share prices rose by an average 19 percent in the past year as growing optimism over a market recovery in 2010 outweighed the impact of record operating losses.
Maritime
Forwarding
Senate Confirms Khouri, Strickland
R.G. Edmonson |
The Senate on Dec. 24 confirmed the nominations of a Federal Maritime Commission member and a senior Department of Transportation administrator before adjourning for the holidays.
Transport, Trade and Regulation News
Durable Goods Shipments Climb for Third Month
Thomas L. Gallagher |
Shipments of manufactured durable goods climbed for the third consecutive month in November, the U.S. Census Bureau announced Dec. 24.
Transport, Trade and Regulation News
Pa. Factory Converts Containers for Military Use
Thomas L. Gallagher |
Mobile Concepts by Scotty, a Pittsburgh-based commercial vehicle and trailer manufacturer, completed the first phase of a Defense Department contract to convert ocean containers for use as training si
Maritime
Forwarding
Recovery Act Funds 10,000th Highway Project
Thomas L. Gallagher |
The Federal Highway Administration passed a milestone in December when it approved its 10,000th highway project funded through the American Recovery and Reinvestment Act of 2009, which Congress passed
Transport, Trade and Regulation News
Hanjin Launches Carbon Calculator
Thomas L. Gallagher |
Hanjin Shipping on Dec. 23 added a “carbon calculator” to its Web site to let customers know the amount of emissions generated by their cargo for any given transportation segment.
Maritime
Container lines
Forwarding
Container Ship Charter Rates Reach Fresh Lows
Bruce Barnard |
The container ship charter market is ending the year close to record lows with ocean carriers' demand for hired vessels weakening as cargo volumes shrink to seasonal lows on key east-west liner trade
Maritime
Container lines
Forwarding
Drug Store Chain Strengthens Inventory Controls
JOC Staff |
Rite Aid says an ongoing effort to improve its logistics and distribution management helped the drug store chain cut its loss in the recent fiscal third quarter some 67 percent despite falling sales.
International ports
Asia Air Cargo Soared 12 Percent in November
JOC Staff |
Asia-Pacific airlines, turning the corner on steep declines in freight business, reported their first growth in cargo traffic in a year and a half in November, according to the Association o
Air Cargo
CMA CGM Projects Profits in November, December
JOC Staff |
Financially troubled CMA CGM returned to profitability on its operations between Asia and North Europe in October and expects overall operations to show operating profits in November and December.
Maritime
Container lines
Forwarding
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