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NYK Plans $325 Million Bond Issue
Peter T. Leach |
NYK Line plans to issue $325 million of bonds maturing in 2021 with a 1.218 percent coupon, the carrier’s lowest for a 10-year security since February 2003, according to Bloomberg.
Container lines
Maritime
Forwarding
S&P Downgrades CMA CGM Outlook
Bruce Barnard |
Standard & Poors downgraded its outlook for CMA GCM to negative and affirmed its B+ plus rating on the French ocean carrier’s debt.
Container lines
Maritime
Forwarding
BNSF’s Rose Says Tax Changes Needed
Peter Gartrell |
BNSF Railway Chairman and CEO Matt Rose believes the best way to get U.S.
Transport, Trade and Regulation News
Rail News
North-American rail
Landstar Says Freight Demand Still Strong
William B. Cassidy |
Weakening economic conditions haven’t slowed trucking giant Landstar System, which says it gained truckload freight and raised rates in July and August.
Truckload
Trucking News
Boxer Files Highway Trust Fund Extension
JOC Staff |
Sen.
Transport, Trade and Regulation News
Air Cargo
Postmaster General Pleads to Senate for Relief
Mark Szakonyi |
U.S.
Trucking News
Transport, Trade and Regulation News
Air Cargo
Class 8 Truck Orders Jump in August
William B. Cassidy |
Class 8 truck orders rebounded in August, despite dire predictions for the U.S. economy, according to preliminary figures from two research groups.
North-American rail
Trucking News
Saddle Creek Names DelBovo Transport President
Mark Szakonyi |
Saddle Creek promoted Mike DelBovo, a 14-year company veteran, to the new position of president of transportation at the contract logistics operator.
International ports
Trucking News
LTL
JOC Economist Cuts US Import Forecast
Joseph Bonney |
Weakening economic conditions led Journal of Commerce Economist Mario O. Moreno to lower his forecast for U.S.
Forwarding
Maritime
Container lines
CMA CGM To Call on India's Port of Cochin
JOC Staff |
CMA CGM added a direct call at the Vallarpadam International Container Transshipment Terminal, a DP World facility in India’s Port of Cochin, to its North Europe-Mediterranean-Oceania service.
Container lines
Maritime
Forwarding
McDonalds to Add 700 Stores in China by 2013
JOC Staff |
McDonalds’ plan to add more than 700 restaurants in China by 2013 signals the growing market for cold chain logistics providers.
International ports
Consultant Forecasts Better 2012 for Ship Lines
Joseph Bonney |
Container shipping will wrestle with excess capacity through 2011 but vessel supply and demand should come into better balance in 2012, said consultant Philippe Hoehlinger.
Container lines
Maritime
Forwarding
Chamber Offers Trade, Transport Jobs Plan
John D. Boyd |
The U.S. Chamber of Commerce sent President Obama and Congress a detailed list of job-creation measures it supports, with a heavy focus on taking steps to expand U.S.
Transport, Trade and Regulation News
Japanese Prime Minister Vows Early TPP Decision
Hisane Masaki |
New Japanese Prime Minister Yoshihiko Noda vowed to make a decision “as soon as possible” on whether to join the U.S.-led Trans-Pacific Partnership Agreement.
Transport, Trade and Regulation News
Freight Index Inched Up in August
JOC Staff |
The Cass Freight Index for U.S. shipments grew 4.4 percent in August over the same month a year ago, the smallest gain in a year-and-a-half and a sign of fragile demand in the American economy.
Transport, Trade and Regulation News
Maritime
Trucking News
Rail News
Air Cargo
Air France-KLM Cuts Capacity
Bruce Barnard |
Air France-KLM is launching a new round of cost cuts, including a hiring freeze and deeper capacity reductions, as the European airline group moves to preserve profitability amid deteriorating conditi
Air Cargo Carriers News
Air Cargo
FMCSA Approves NY-NJ Drayage Stickers
Joseph Bonney |
The Federal Motor Carrier Safety Administration upheld the use of stickers to identify trucks complying with a drayage registry established by the Port Authority of New York and New Jersey.
Port News
Trucking News
Teamsters Sue to Stop US-Mexico Truck Program
William B. Cassidy |
The Teamsters union filed a lawsuit last week in an attempt to block the Obama administration’s plans for a cross-border trucking pilot project with Mexico.
Truckload
Trucking News
Transport, Trade and Regulation News
LTL
Container Industry Pioneering Inventor Dies at 92
Joseph Bonney |
Keith W. Tantlinger, the innovative engineer whose inventions turned Malcom McLean’s vision for container shipping into reality, died at his home in Escondido, Calif., on Aug. 27.
Forwarding
Maritime
Air Cargo Market Losing Share To Ocean Carriers
Bruce Barnard |
Air cargo is losing market share to container shipping as high air rates and falling ocean freight rates widen the price gap between the two transport modes, said International Air Transportation Asso
Air Cargo Carriers News
Maritime
Air Cargo
Forwarding
Obama: Jobs Plan Will Include Road Projects
John D. Boyd |
President Obama said the jobs plan he unveils Thursday will include proposals to put unemployed construction workers busy with new road and bridge projects.
Transport, Trade and Regulation News
CMA CGM Faces Falling Bond Prices
Peter T. Leach |
Container ship operator CMA CGM, hit by sharply declining bond prices and falling freight rates, faces a 90 percent chance of defaulting on payment obligations over the next five years, according to a
Container lines
Forwarding
CEVA Begins NY-Hamburg LCL Service
Mark Szakonyi |
CEVA Logistics said the expansion of its less-than-containerload offerings to include service from Hamburg to New York is the first of many LCL service additions for the year.
Forwarding
Maritime
Container lines
10 Years Later
R.G. Edmonson |
Around 9 a.m. Eastern time on Sept. 11, 2001, U.S. Coast Guard Commandant Adm. James M.
Transport, Trade and Regulation News
Maritime
CMA CGM Boosts Gulf Bridge Express Service
Bruce Barnard |
CMA CGM is upgrading its Gulf Bridge Express service linking the Gulf of Mexico, Mexico and the Caribbean with the addition of direct calls in New Orleans and Puerto Cabello, Venezuela.
Maritime
Container lines
Forwarding
CSAV Seeks $1.2 Billion Capital Injection
Bruce Barnard |
Financially ailing CSAV says it will seek a $1.2 billion capital injection in October after the Chilean ocean carrier sank deeper into the red in the second quarter.
Maritime
Container lines
Forwarding
FedEx Opens Its Largest China Facility
Mike King |
FedEx Express, in a significant expansion of its Asia operations, opened its largest express facility in China.
Air Cargo
Air Cargo Forwarder News
FreightWatch Offers Temperature Monitoring
JOC Staff |
FreightWatch International, a logistics security services provider, will offer shippers real-time temperature monitoring services in conjunction with its cargo monitoring capabilities.
Cool Cargo News
Klinge Builds Triple Container Reefer Unit
JOC Staff |
Klinge, a York, Pa.-based refrigeration technology manufacturer, has developed a unit for so-called triple containers, or tricons.
Cool Cargo News
Paramount Citrus Acquires Texas Facility
JOC Staff |
Paramount Citrus has acquired a south Texas-based full-service cold storage facility for the produce industry previously owned by Border Cold Storage.
Cool Cargo News
Cold Chain Groups Discuss Hot Topics
JOC Staff |
Members of Global Cold Chain Alliance lobby administration officials during assembly in Washington
Cool Cargo News
‘Why Not Minot?’
Bill Mongelluzzo |
Distribution planners looking for the ideal location to build an inland port probably wouldn’t zero in on Minot, N.D., but that didn’t stop Greg Johnson, president of North Dakota Port Ser
Maritime
Rail News
Forwarding
Freight Carriers Seek to Derail Amtrak Fines
Mark Szakonyi |
The freight rail industry is fighting a regulation that allows the federal government to fine Class I carriers if Amtrak-provided data shows the railroads caused delays in passenger service.
Transport, Trade and Regulation News
Rail News
North-American rail
APM Terminals Invests in Costa Rica
JOC Staff |
APM Terminals will spend $1 billion on a new container terminal in Moin, Costa Rica, as part of a corporate strategy to have container operations gain market share in the produce business in the regio
Cool Cargo News
Maritime
K+N Acquires Dutch Perishables Handler
JOC Staff |
Kuehne + Nagel will acquire J. van de Put Fresh Cargo Handling of Amsterdam, a Dutch handling agent for perishable goods.
Cool Cargo News
Air Cargo
Bigger Harvest for Reefer Boxes
Stephanie Nall |
Exporters anxious to locate equipment can breathe a little easier: Container carriers and leasing companies are on track to purchase a record number of new refrigerated containers this year, according
Cool Cargo News
Maritime
Forwarding
Carriers Challenge NY-NJ Port Fee
Joseph Bonney |
Ports around the United States are anxious to encourage greater use of intermodal rail for inbound shipments, but when does that encouragement amount to an illegal subsidy for rail transport?
Port News
Maritime
Rail News
Forwarding
Cool Mac Attack?
Stephanie Nall |
McDonald’s is opening one restaurant a day in China and plans to continue that pace for the next several years.
Cool Cargo News
Maritime
Forwarding
Merge Ahead
William B. Cassidy, Senior Editor, Trucking |
Pacific Coast-based Gordon Trucking is pointing its business toward the East Coast. The Pacific, Wash.-based truckload carrier is acquiring Central U.S.
Trucking News
Trucking labor
Kerry Logistics Expands in Eastern China
JOC Staff |
Kerry Logistics is building an 85,300-square-foot facility in Wuxi, an economic hotspot in China’s Jiangsu province.
Cool Cargo News
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