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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
Reiner Named President of Chlorine Institute
JOC Staff |
ARLINGTON, Va. (Feb. 2, 2010) - Frank Reiner has been named incoming president of The Chlorine Institute, Inc.
CMA CGM Gets $80 Million Cash Injection
Bruce Barnard |
CMA CGM on Feb. 2 received an $80 million cash injection from its banks as it continues negotiations over restructuring its $5.6 billion debt.
Maritime
Container lines
Suggs Replaces Greer at Greatwide
William B. Cassidy |
Greatwide Logistics Services Chairman Leo Suggs replaced Raymond B. Greer as CEO of the third-party truck brokerage and logistics firm.
Trucking News
Truck brokers
Geert Visser Named Rotterdam Representative USA
JOC Staff |
As from January 1, the Port of Rotterdam Authority has named Geert Visser, Consul of the Netherlands and President of Global Marine Transport, Rotterdam Representative for the USA.
GAC appoints industry veterans as new MDs in Thailand & Abu Dhabi
JOC Staff |
01 February 2010 - In its latest round of management appointments, the GAC Group has named industry veterans Mark Delaney and Ronnie Knowles as Managing Directors of its operations in Thailand and Abu
Payne Helps Steer Florida Transportation Panel
JOC Staff |
PORT CANAVERAL, FL—February 1, 2010 – Developing a roadmap for Florida’s transportation needs during the next 50 years is the challenge that Port Canaveral CEO J.
Toll Acquires Summit
Thomas L. Gallagher |
Australia-based logistics provider Toll Group acquired U.S.-based freight forwarder Summit Logistics International.
Transport, Trade and Regulation News
STB Backs Shipper on Union Pacific Rates
John D. Boyd |
The Surface Transportation Board, in a split decision, ruled that Union Pacific Railroad charged “unreasonably high” rates to chlorine shipper U.S.
Rail News
North-American rail
Antwerp Launches Breakbulk Promotion Effort
Peter T. Leach |
The Antwerp Port Authority and its port community are launching a new campaign to attract more breakbulk trade to the port.
Maritime
Forwarding
FMC Reorganizes
R.G. Edmonson |
The Federal Maritime Commission on Monday announced a major management restructuring that could indicate new directions in enforcement policy, and the commission’s relationship with the industry
Transport, Trade and Regulation News
Gothenburg Port Seeks Private Terminal Operators
Bruce Barnard |
The port of Gothenburg, Sweden, launched a search for private stevedoring companies to operate its roll-on, roll-off, container and auto export/import terminals as part of a restructuring of the Scand
Maritime
Finnish Dockworkers Strike
Bruce Barnard |
Finnish dockworkers are staging a 24 hour strike Feb. 2, following the breakdown of contract negotiations Sunday.
Maritime
Obama Proposes Fee for Rail Inspections
John D. Boyd |
President Obama’s budget proposes to have the Federal Railroad Administration start charging for some of its safety inspection services, to bring in $50 million in fee income during the fiscal y
Rail News
Yusen Air & Sea Net Profit Tumbles 58.2 Percent
Hisane Masaki |
Japanese freight forwarder Yusen Air & Sea Service said its net profit plunged 58.2 percent from a year earlier in the first nine months of fiscal 2009, which started in April, to $14.1 million.
Air Cargo
Idled Container Ship Count Falls
Bruce Barnard |
LONDON -- The number of idled container ships registered its first significant decline in more than a year in January, with almost 50 vessels returning to service over the past month as ocean carriers
Maritime
Forwarding
UPS Triples Net Profit in Fourth Quarter
JOC Staff |
UPS nearly tripled its net profit in the fourth quarter, as a strong surge in international demand and unexpected domestic holiday shipping pushed earnings to $757 million at the end of the year, the
Air Cargo
Air Cargo Forwarder News
Air Cargo Carriers News
Diesel Dives 5.2 Cents to $2.781 per Gallon
Thomas L. Gallagher |
A second consecutive weekly drop brought the average retail price of diesel down 5.2 cents to $2.781 per gallon, the lowest price in five weeks since it hit $2.732 per gallon at the end of December, a
Trucking News
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