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Platts Containers Update
“K” Line to Offer New Slots on Asia-Honolulu Service
Peter T. Leach |
“K” Line said it will start offering more container slots between Honolulu and Asia next month on an existing service between Asia and the West Coast of South America.
Maritime
Container lines
Forwarding
YRC Worldwide Posts $62 Million Loss
William B. Cassidy |
YRC Worldwide reported a $62 million third-quarter net loss as revenue dropped 5.7 percent from a year ago at the nation's largest less-than-truckload operator.
Trucking News
LTL
UK Revokes Cargo Screening Exemptions
Bruce Barnard |
The UK introduced tougher security checks on air cargo shipments from the Middle East, south Asia and North Africa following last week's
Air Cargo
UP Expects 6-8 Percent Annual Revenue Growth
Bill Mongelluzzo |
Union Pacific Railroad expects growing volume, higher rates and new pricing on expiring contracts with shippers to push annual revenue up 6 to 8 percent per year over the next five years, Chief Financ
Rail News
North-American rail
Groundbreaking for $55.5 Million Boston-Area Commuter Rail Extension
Rail Resource |
Massachusetts Lieutenant Governor Timothy P. Murray recently joined U.S.
Rail News
Qantas, Singapore Air Ground A380 Aircraft
JOC Staff |
Qantas Airways and Singapore Airlines are grounding their superjumbo A380 aircraft after part of an engine on a Qantas flight appeared to tear apart in flight.
Air Cargo
Imports Drive 20 Percent Intermodal Surge
John D. Boyd |
Intermodal traffic rose 20.3 percent in the third quarter from a year earlier, driven by a 28.1 percent rise in import-powered international loadings, according to the Intermodal Association of North
Rail News
Navistar Ships 17,000 Vehicles in Quarter
William B. Cassidy |
Truck maker Navistar shipped about 17,000 vehicles to U.S. and Canadian customers in the quarter that ended Oct.
Trucking News
Panalpina to Pay $82 Million in Penalties For Bribery
Thomas L. Gallagher |
Panalpina will pay $81.9 million in fines and penalties to settle charges in the United States that it violated bribery laws, capping a case that led to management changes at one of the world's larges
Air Cargo
Matson Profit Surges 67 Percent
Thomas L. Gallagher |
Ocean carrier Matson’s operating profit surged 67 percent in the third quarter on 14 percent growth in revenue as the China trade boomed, supporting a 20 percent increase in parent company Alexander &
Maritime
Container lines
Forwarding
EU Officials to Meet On Parcel Security
Bruce Barnard |
European Union explosive experts will meet Nov. 5 to examine new measures to tighten air cargo security. /air-expedited/ups-planes-grounded-searched-suspicious-packages
Air Cargo
Costamare IPO Falls Short of Target
Bruce Barnard |
Container ship owner Costamare fell $100 million short of its maximum target in an initial public offering in New York.
Maritime
Forwarding
Official: One Bomb Defused 17 Minutes from Exploding
JOC Staff |
One of the parcel bombs sent out of Yemen through air cargo carriers was defused 17 minutes before it was set to explode, according to France’s interior minister.
Air Cargo
Panalpina Revenue, Profit Jump
Bruce Barnard |
Panalpina, the Swiss global forwarding and logistics group, reported third quarter profit jumped 13 percent from a year ago driven by strong growth in ocean and air freight traffic.
Air Cargo
Hanjin Swings to Profit in Third Quarter
Peter T. Leach |
Hanjin Shipping said it swung to a profit of $196 million in the third quarter ended Sept. 30, compared to a loss of $338 million in the same quarter of last year.
Maritime
Container lines
Forwarding
Drewry Trans-Pacific Spot Rate Slides 5 Percent
Peter T. Leach |
The Drewry Container Rate Benchmark fell 5 percent in the most recent week, leaving the spot market pricing measure down 23 percent from the year’s high point set three months ago.
Maritime
Forwarding
Pacer Net Climbs 83 Percent to $1.1 Million
John D. Boyd |
Intermodal provider Pacer International saw its third-quarter net income jump 83 percent to $1.1 million while revenue fell, but said it would have done better had not Hurricane Alex disrupted its tra
Rail News
Long Beach Voters Approve Port Revenue Measure
Bill Mongelluzzo |
Long Beach voters on Tuesday approved an initiative that will most likely result in the port turning over more of its revenue each year to the city.
Maritime
Nippon Express Profit Clobbered by Charges
Hisane Masaki |
Nippon Express earned net profit of $52.68 million in the six months to the end of September, an improvement of just 0.4 percent on the year earlier period.
Air Cargo
NAFTA Trade Grew Sharply in August
Thomas L. Gallagher |
Trade using surface transportation between the United States and its North American Free Trade Agreement partners Canada and Mexico was 25.3 percent higher in August 2010 than in August 2009, reaching
Transport, Trade and Regulation News
Napolitano Assures Air Cargo Execs on Security
R.G. Edmonson |
Homeland Security Secretary Janet Napolitano assured major air express carriers she is committed to working together with them on "enhanced screening and preventative measures" after last we
Air Cargo
Security Critic Urges Industry Response to Terrorism
R.G. Edmonson |
The air cargo industry has a "compressed" window of opportunity to develop measures to counter the threat of terrorism after authorities
Air Cargo
FMC Studies EU Repeal of Antitrust Immunity
R.G. Edmonson |
The Federal Maritime Commission is seeking public comments and information to help in its three-year study of the effects of the European Union's repeal of ocean carrier antitrust immunity.
Maritime
Container lines
Forwarding
Truck Orders Surged Ahead in October
William B. Cassidy |
Net orders for heavy trucks surged in October, climbing 22 percent in the third straight month-to-month increase, according to FTR Associates.
Trucking News
Finnlines Revenue, Profit Roll Upward
Bruce Barnard |
Finnlines, the Finnish short sea shipping line, reported higher third quarter revenue and profit driven by a recovery in North Sea and Baltic Sea roll-on, roll-off traffic.
Maritime
Fed Launches $600 Billion Bond Buy to Lift Economy
John D. Boyd |
The Federal Reserve's policy panel said Wednesday it will buy $600 billion in long-term U.S.
Transport, Trade and Regulation News
Roadrunner Profit Hits $4.4 Million, But Costs Climb
John D. Boyd |
Net income and revenue leaped in the third quarter at non-asset-based trucker Roadrunner Transportation Systems, with sales up 31.3 percent from a year ago.
Trucking News
LTL
Mica Vows to Create Jobs, Free Idle Stimulus Funds
John D. Boyd |
Rep.
Transport, Trade and Regulation News
Republicans Sweep House Races; Oberstar Loses
John D. Boyd |
Republicans swept races to put them in firm control of the House of Representatives come January, including the Minnesota seat now held by Transportation and Infrastructure Committee Chairman James L.
ABF Cuts Operating Loss to $2.6 Million
William B. Cassidy |
Arkansas Best narrowed its losses to $300,000 in the third quarter, with a $2.6 million operating loss at its less-than-truckload carrier ABF Freight System.
Trucking News
LTL
Con-way Loses $8.2 Million in Third Quarter
William B. Cassidy |
Higher costs helped push trucking and logistics giant Con-way back into the red in the third quarter, as a second-quarter surge in truck demand faded.
Trucking News
LTL
Truck brokers
Maritime Advocate Taylor Loses Election
R.G. Edmonson |
The wave of Republicans taking over the House on Tuesday swept out Rep. Gene Taylor, D-Miss., one of the most passionate supporters of the Coast Guard and U.S. merchant marine in Congress.
Transport, Trade and Regulation News
Maritime
Atlas Air Net Profit Soars 130 Percent
Thomas L. Gallagher |
Stronger demand, improved yields and higher prices powered a 130 percent surge to $33.8 million in net profit for Atlas Air Worldwide Holdings in the third quarter.
Air Cargo
Greece Halts International Mail
Dana L. Brundage |
UPDATE 5:55 p.m.: Greek authorities said Wednesday that recent bombing are not connected to al-Qaeda or international terrorism, but are instead the work or domestic terrorists.
Air Cargo
Royal Mail Profit Slumps 72 Percent
Bruce Barnard |
The UK's Royal Mail reported first half profit slumped 72 percent from a year ago as losses at its core domestic mail unit outweighed improved earnings at its European logistics and international parc
Air Cargo
Air Cargo Forwarder News
Expeditors Net Profit Soars 66 Percent
JOC Staff |
Strong demand that led to a record operating margin pushed Expeditors International of Washington to a $96.1 million net profit in the third quarter, 66 percent better than the same quarter a year ago
Air Cargo
FedEx Buys India Operator AFL
JOC Staff |
FedEx will buy India package and freight delivery specialist AFL and its affiliate company Unifreight India, sharply stepping up the company’s investment in one of the world’s fastest growing economie
Air Cargo
Air Cargo Forwarder News
Yang Ming Profit Surges in Third Quarter
Peter T. Leach |
Yang Ming Marine, Taiwan’s second largest container line, posted a record profit and revenue in the third quarter, which ended Sept.
Maritime
Container lines
Forwarding
ATA, Port of LA Ask Court to Expedite Appeals
Bill Mongelluzzo |
The American Trucking Associations and the Port of Los Angeles Tuesday asked the U.S. Court of Appeals for the 9th Circuit for an expedited hearing of their appeals in the port's clean-truck case.
Maritime
Forwarding
Trucking labor
Boeing Forecasts 5.9 Percent Annual Air Cargo Growth
JOC Staff |
Aircraft manufacturer Boeing, showing strong confidence in air freight demand after the longest downturn in the industry’s history, says world air cargo traffic will return to its 2007 peak by the end
Air Cargo
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