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Platts Containers Update
Survey Finds Few Truckers Ready to Add Capacity
William B. Cassidy, Senior Editor |
Truckload carriers are becoming more willing to at least consider adding capacity as freight demand increases, according to a survey by Transport Capital Partners.
Truckload
LTL
FastShip Files for Chapter 11 Bankruptcy
Joseph Bonney, Senior Editor |
FastShip, which hoped a decade ago to launch a speedy trans-Atlantic service using innovative technology, has filed for Chapter 11 bankruptcy in hope of raising funds for a patent-infringement lawsuit
Forwarding
Container lines
Asia-Europe Spot Rates Edge Up
Peter T. Leach, Senior Editor |
Average Asia-Europe spot prices edged up slightly this week in a sign that the hefty general rate increases implemented by carriers on March 15 are holding up.
Container lines
Forwarding
Cargolux Lost $18.3 Million in 2011
Bruce Barnard, Special Correspondent |
Cargolux reported a net loss of $18.3 million in 2011 from a $59.8 million profit in 2010, as Europe’s largest all-cargo airline battled record oil prices, higher leasing costs and excess capaci
Air Cargo Carriers News
ILA, Employers Meet for Talks
Joseph Bonney, Senior Editor |
Representatives of the International Longshoremen’s Association and its East and Gulf Coast employers are meeting in Tampa this week to exchange initial proposals for a contract to replace the o
Longshore labor
DP World Profit Soars 82 Percent
Bruce Barnard, Special Correspondent |
DP World booked an 82 percent increase in profit in 2011 at $683 million, up from $372 million a year earlier, driven by gains on the sale of a majority stake in its Australian container terminals.
Port News
Forwarding
Zim Ends 2011 With $397 Million Loss
Bruce Barnard, Special Correspondent |
Zim Integrated Shipping Services swung to a $397 million loss in 2011 from a $54 million profit in 2010 as the Israeli ocean carrier faced tougher competition in a deteriorating container shipping mar
Container lines
Forwarding
US Steel Imports Declined in February
Peter T. Leach, Senior Editor |
U.S. steel imports declined 4.5 percent in February month-to-month despite a large increase in slab imports, according to preliminary government data.
Forwarding
Nagoya Box Trade Rises 3.2 Percent in 2011
Hisane Masaki, Special Correspondent |
The number of foreign trade containers handled by the Port of Nagoya in central Japan rose 3.2 percent in 2011 from the previous year to 2,472,264 twenty-foot equivalent units (TEUs), according to pre
Port News
Forwarding
Maersk Plans New Rate Increases
JOC Staff |
Maersk Line plans to implement a series of general rate increases on various trade lanes, as part of a new rate restoration program.
Container lines
Forwarding
Export Growth Tied to Reduction in Port Delays
Bill Mongelluzzo, Associate Editor |
A spokesman for agricultural interests called upon ports to help increase U.S. exports by reducing delays at marine terminals.
Port News
Cool Cargo News
Forwarding
Canadian Truck Traffic, Freight Rates Increase
William B. Cassidy, Senior Editor |
The Canadian spot market for truckload freight hits its second highest point in 11 years in February, according to TransCore’s Canadian Freight Index.
Truckload
Busy Peak Shipping Season Forecast
Bill Mongelluzzo, Associate Editor |
During peak-season 2011, U.S. ports handled about 800,000 20-foot container units less than the macro economy indicated they should have moved.
Container lines
Forwarding
Jones Act Carriers Claim ‘Ample’ Oil Capacity
William B. Cassidy, Senior Editor |
The U.S. maritime industry has “ample capacity” to transport petroleum from the Gulf of Mexico to the Northeast, the American Maritime Partnership said.
Container lines
Deadline Nears on Transportation Funding Plan
Mark Szakonyi, Associate Editor |
House Republicans have two days to approve an extension to national transportation funding before hundreds of thousands of construction-related jobs are threatened.
Consumer Confidence Dips, But Expectations Rise
William B. Cassidy, Senior Editor |
The Conference Board’s Consumer Confidence Index dropped slightly in March, but consumers’ outlook on the economy improved, the research organization said.
Transport, Trade and Regulation News
EU Fines 13 Air Forwarders for Price-Fixing
Bruce Barnard, Special Correspondent |
European antitrust officials on Wednesday fined 13 of the world’s largest logistics companies, including Kuehne + Nagel, Panalpina and UPS, a total of $225 million for fixing international air c
Logistics Technology News
Air Cargo Forwarder News
Air Cargo Carriers News
US Durable Goods Orders Rise 2.2 Percent
Mark Szakonyi, Associate Editor |
Orders for U.S.
Transport, Trade and Regulation News
Trans-Pacific Spot Rates Ease, But Stay High
Peter T. Leach, Senior Editor |
Average trans-Pacific spot rates this week eased off from their recent high of two weeks ago when carriers that belong to the Transpacific Stabilization Agreement put into effect
Container lines
Forwarding
Protest Closes India's Port Nehru
JOC Staff |
A protest by local political parties and trade unions shut down India’s Port of Jawaharlal Nehru (Nhava Sheva), forcing ocean carriers to skip calls at the
Longshore labor
Forwarding
Pacer Names Benki to Run Asia, Europe Logistics
Peter T. Leach, Senior Editor |
Pacer International named Al Benki as senior vice president, international logistics for Asian and European operations, where he will be responsible for growth of its international business units, Oce
International ports
Forwarding
Cosco Pacific Profit Climbs 7.6 Percent
Peter T. Leach, Senior Editor |
Cosco Pacific on Tuesday reported a net profit of $388.8 million for 2011, an increase of 7.6 percent year over year.
Port News
Forwarding
MSC Merges India-Europe-Mediterranean Services
JOC Staff |
Mediterranean Shipping Company will upgrade and combine its existing Indian Subcontinent-Europe-Mediterranean service network operated in conjunction with Shipping Corporation of India, effective in e
Container lines
Forwarding
China's Growth Tied to Technology, Consultant Says
Bill Mongelluzzo, Associate Editor |
China will continue to expand its economy, but its growth will be based upon technology and innovation rather than low-cost labor, according to a consultant who has lived there for the past 20 years.<
Transport, Trade and Regulation News
Illios Shipping Fined for Illegal Waste Dumping
Mark Szakonyi, Associate Editor |
The Department of Justice ordered Illios Shipping to pay $2 million in criminal fines after the Greek carrier admitted to illegally dumping waste and destroying related records.
Forwarding
Shipper Group Enters Trucker Hours-of-Service Battle
William B. Cassidy, Senior Editor |
Shipper association NASSTRAC joined the legal battle over truck driver hours-of-service rules, challenging a lawsuit seeking shorter daily hours for truckers.
Trucking labor
Truck Tonnage Index Rises 5.5 Percent
William B. Cassidy, Senior Editor |
A key indicator of trucking activity rose 0.5 percent in February from January, signaling truck freight volumes are rising after a post-holiday decline.
Truckload
LTL
Rickmers and TOTE Join World Shipping Council
Peter T. Leach, Senior Editor |
Rickmers-Linie and TOTE have joined the World Shipping Council as the newest members of the Washington-based maritime association.
Container lines
Forwarding
UASC to Hike Europe-Asia Cargo Rates
JOC Staff |
United Arab Shipping Company will apply a general rate increase on eastbound cargo from North Europe to Asia and the Indian Subcontinent.
Container lines
Forwarding
Fedex Trade Networks Expands in US
William B. Cassidy, Senior Editor |
FedEx Trade Networks is expanding its U.S. freight forwarding operations, opening offices in Phoenix, St. Louis, Mo., and Milwaukee, Wis.
Air Cargo Forwarder News
Trailer, Truck Orders Create Backlogs
William B. Cassidy, Senior Editor |
Truck trailer makers are struggling to keep up with demand, as strong orders create production backlogs, according to vehicle market consultant ACT Research.
Truckload
Horizon Expects $6.4 Million Fourth Quarter Loss
Peter T. Leach, Senior Editor |
Horizon Lines said Tuesday it expects to report a fourth quarter loss of $6.4 million from continuing operations basis on a GAAP (general accepted accounting principles) basis, compared with an operat
Container lines
Forwarding
DP World Repays $3 Billion Loan Early
Bruce Barnard, Associate Editor |
Global ports operator DP World is tapping its cash resources to repay a $3 billion revolving credit facility six months before it matures in October.
Port News
Forwarding
Yokohama Container Volume Slides 6.2 Percent
Hisane Masaki, Special Correspondent |
International trade through Japan’s Port of Yokohama declined 6.2 percent in 2011 from 2010 to 2.8 million 20-foot equivalent units, according to preliminary figures released by the Yokohama mun
Port News
Forwarding
Hanjin Takes Delivery of First 13,000-TEU Ships
Peter T. Leach, Senior Editor |
Hanjin Shipping took delivery of the first two of a series of nine 13,100-TEU capacity container
Container lines
Forwarding
Operating Profit, Traffic Soar at Russia's Global Ports
Bruce Barnard, Special Correspondent |
Russia’s Global Ports booked net income of $146.9 million in 2011, up 23 percent on the previous year, as its Baltic and Far East container terminals boosted traffic 44 percent to more than 1.3
Port News
Forwarding
Obama Team Pushing Export Promotion Initiatives
Bill Mongelluzzo, Associate Editor |
Encouraging small and midsize companies to enter the export arena will put the U.S.
Forwarding
Supreme Court Seeks Solicitor General's Opinion in Clean-Trucks Case
Bill Mongelluzzo, Senior Editor, Trans-Pacific |
A challenge to the Port of Los Angeles concession requirements for motor carriers moved a step closer to the U.S.
Drayage
Trucking News
Rail News
Trucking labor
MSC Imposes Equipment Surcharge in Europe-Asia Trade
Bruce Barnard, Special Correspondent |
Mediterranean Shipping Co is imposing an “equipment imbalance“ surcharge and “no-show” penalties on the North Europe-Asia route after rival Maersk Line stopped taking cargo boo
Container lines
Forwarding
Diesel Prices Hit 33-Month High
Mark Szakonyi, Associate Editor |
Diesel prices across the U.S. hit a 33-month high in the week ending March 26, climbing half a cent as oil prices rose to nearly $107 per barrel.
Transport, Trade and Regulation News
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