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Platts Containers Update
Yang Ming, OOCL to Upgrade China-Pakistan
JOC Staff |
Yang Ming Line and Orient Overseas Container Line plan to upgrade their jointly-operated China-Pakistan-Express (CPX) Service, effective May 21.
Maritime
Container lines
Forwarding
Fitch Downgrades VPA Revenue Bonds
Peter T. Leach |
The decline in container volume brought on by the global recession is taking its toll on the credit rating of the Virginia Port Authority, but the revenue drop has not discouraged potential bidders fr
Maritime
Singapore’s Box Throughput Dropped in April
Peter T. Leach |
The volume of containers handled by Singapore’s container terminals in April dropped by 17.7 percent from a year earlier and by 5 percent from March, according to throughput data from the Mariti
Maritime
Forwarding
Knock on Wood: Lower Freight Rates
Peter T. Leach |
At a time when weakness in overseas economies has cut prices for exports by U.S. wood and paper producers, a group of 14 small forest product companies in the U.S.
Maritime
Forwarding
YRC Seeks $1 Billion Federal Bailout
JOC Staff |
Trucking industry leader YRC Worldwide’s Chairman and CEO Bill Zollars said the company will seek $1 billion in federal bailout funds to ease pressure from its pension obligations.
Trucking News
LTL
Trucking labor
Congress Gives FMC '+' Grade
R.G. Edmonson |
The Federal Maritime Commission on May 20 will receive recognition as one of the “Best Places to Work in the Federal Government,” Commissioner Joseph E.
Transport, Trade and Regulation News
Maritime
Fredriksen Fails to Oust TUI Board Members
Bruce Barnard |
Norwegian shipping billionaire John Fredriksen has failed to oust the chairman of TUI and launch a probe into the company's recent sale of its ocean container carrier Hapag-Lloyd.
Maritime
Container lines
Truckers Sue Minnesota Troopers
John Gallagher |
The Owner-Operator Independent Drivers Association is suing the Minnesota State Patrol for violating truck drivers’ rights in placing them out of service for fatigue.
Trucking News
APL to Launch Vietnam – U.S. Service
Marcy Behrmann Frank |
APL will launch a weekly direct container shipping service linking Ho Chi Minh City to the U.S. West Coast in as little as 15 days.
Maritime
Deflation Picks Up Speed
Thomas L. Gallagher |
Prices paid to producers of finished goods in April shifted up slightly from the previous month after widespread declines.
Transport, Trade and Regulation News
Sri Lanka Extends Bidding for Terminal
JOC Staff |
The Sri Lanka Ports Authority has extended the bidding deadline for its proposed South Harbor container terminal project, near Colombo, from May 19 to June 16.
Maritime
Forwarding
Jet Fuel Consumption Slides
Thomas L. Gallagher |
The recession is pulling planes out of the air and airlines are consequently using far less jet fuel.
Air Cargo
Air Cargo Carriers News
AeroLogic Takes Delivery of First Freighter
Bruce Barnard |
AeroLogic, the new cargo airline jointly owned by Lufthansa Cargo and DHL Express, has taken delivery of its first Boeing 777 freighter.
Air Cargo
Air Cargo Carriers News
Great Lakes Shipping Cut in Half
Courtney Tower |
Great Lakes trade in the commodities that fuel North American industry is being hit hard by recession and some 30 U.S.
Maritime
Forwarding
Rails Jolted by May Slump
John D. Boyd |
Top U.S.
Rail News
North-American rail
Senate Bill Cuts Highway Money
R.G. Edmonson |
Democratic leaders on the Senate Commerce Committee are calling for what might be called a shift away from highway freight transportation by 2020.
Transport, Trade and Regulation News
Trucking News
Lawmakers Introduce Currency Reform Bill
Alan Field |
U.S.
Transport, Trade and Regulation News
China Shipping Eyes Second Half Gains
JOC Staff |
The head of maritime operating giant China Shipping says broad industry indicators suggest the ocean container market will improve in the second half of 2009.
Maritime
Container lines
Forwarding
Express-1 Takes Profit Hit
John Gallagher |
Profit at Express-1 Expedited Solutions fell 99 percent to $5,000 in the first quarter as a result of falling surcharge revenue and excess capacity.
Trucking News
Truck brokers
Nippon Cargo Resumes NY Flights
Hisane Masaki |
Japan's Nippon Cargo Airlines, a subsidiary of Nippon Yusen Kabushiki Kaisha, resumed flights between Tokyo and New York for the first time in nearly 10 months.
Air Cargo
Air Cargo Forwarder News
Air Cargo Carriers News
Japanese Airline Cargo Nosedives in March
Hisane Masaki |
Japan's two largest airlines saw their international cargo volumes nosedive in March amid the deep global economic downturn, according to their monthly reports.
Air Cargo
Air Cargo Forwarder News
Air Cargo Carriers News
CEO of YRC Logistics to Leave Company
Alan Field |
Jim Ritchie, CEO of YRC Logistics, will leave the company at the end of May.
Transport, Trade and Regulation News
LTL
Eimskip Sells Containerships Stake
Bruce Barnard |
London - Eimskip, Iceland's ailing container shipping and refrigerated logistics company, is selling a majority stake in Containerships, the Finnish short sea box carrier.
Maritime
Container lines
U. S. Steel Names Transportation Head
Thomas L. Gallagher |
United States Steel named Thomas Kelly to succeed John C. Pranaitis, the retiring managing director-transportation and president of Transtar, the company's transportation subsidiary.
Transport, Trade and Regulation News
Southern California Economy Headed Down
Bill Mongelluzzo |
The massive Southern California international trade economy will decline further in 2009 before registering a modest gain next year, according to a report released by the Los Angeles County Economic D
Transport, Trade and Regulation News
North American ports
Trucking labor
North-American rail
Teamsters Name Port Division Director
Bill Mongelluzzo |
New Jersey Teamsters officer Fred Potter has been named director of the union's port division, which has been attempting to organize harbor truck drivers at U.S. seaports.
Maritime
Long Beach Approves Middle Harbor
Bill Mongelluzzo |
The Long Beach City Council voted unanimously to support a port project to combine two older container terminals into a single, 350-acre facility with a capacity of about 2 million TEUs per year.
Maritime
Top 100 Infrastructure Projects Worth $465B
JOC Staff |
High speed rail and a major Interstate highway project in Texas head up a list of the top 100 infrastructure projects in the United States released this week by CG/LA Infrastructure.
Transport, Trade and Regulation News
Handheld Games Shipments Reloading
JOC Staff |
Shipping goods may not be a game but the growing business of handheld games should provide strong expansion in shipments this year, according to a new forecast.
Transport, Trade and Regulation News
Freight Transportation Crumbles in March
Thomas L. Gallagher |
The volume of freight transportation services in the United States in March dropped 3.3 percent, as measured by the Freight Transportation Services Index of the U.S.
Transport, Trade and Regulation News
Retail Sales Drop 10 Percent
Alan Field |
April retail and food service sales dropped 10.1 percent to $337.7 billion, according to the adjusted advance estimate released Wednesday by the U.S. Census Bureau.
Transport, Trade and Regulation News
China Boosts Dachser Revenue
Alan Field |
A still positive Chinese market helped offset the general gloom of the global downturn for logistics provider Dachser in fiscal 2008.
Transport, Trade and Regulation News
CN Curbs Delays on EJ&E Line
John D. Boyd |
Canadian National Railway vowed to cut the number of long delays at road crossings caused by train operations over its newly acquired Chicago-area short line, and did just that.
Rail News
North-American rail
DFDS Profit Tumbles
Bruce Barnard |
DFDS, a leading short-sea shipping line, reported earnings fell 44 percent in the first quarter of 2009 from a year ago as freight volume fell by as much as twenty five percent on its north European r
Maritime
Container lines
Forwarding
U.S.-India Trade Plunges In First Quarter
Alan Field |
Trade between the United States and India dropped 23.47 percent in value to $8.2 billion during the first quarter of 2009, compared with $10.69 billion during the same period last year.
Transport, Trade and Regulation News
Nehru Strike Ends
JOC Staff |
Dock workers at India’s Port of Jawaharlal Nehru called off their two-day strike on Tuesday, following tense negotiations between port management and union leaders.
Maritime
Baltimore Extends Port Zoning
R.G. Edmonson |
The port of Baltimore received a 10-year extension on special city zoning aimed at protecting its industrial viability, the Baltimore Business Journal reported.
Maritime
YRC Warns of Financial Violation
John Gallagher |
YRC Worldwide warned it may not reach its second quarter earnings requirement as the fragile financial standing at the nation’s largest heavy-freight trucking company seems to be getting shakier
Trucking News
LTL
Weak Grain Outlook Helps Rails
John D. Boyd |
A federal forecast for weak grain output this year could push up commodity prices and spur farmers and grain elevators to release more from their stockpiles to put into railcars for shipment to market
Rail News
Coast Guard Issues Anti-Piracy Directive
R.G. Edmonson |
The Coast Guard issued an anti-piracy security order for U.S.
Maritime
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