Maersk introduces cargo insurance alternative
Value Protect “can act as a substitute or as supplement to regular cargo insurance.”
Stay Up to Date on the Cargo Shipping Industry
The outbreak of the COVID-19 pandemic had a negative impact on shipping industry growth in 2020. With the world in lockdown, demand for non-essential consumer goods (and the means to ship them) decreased. Shipment of manufactured goods also decreased as factories closed in an effort to slow the spread of the virus. On top of that, China — one of the world’s largest exporters — was at the center of the pandemic, leading several countries to stop trade with the nation altogether.
According to the United Nations Conference on Trade and Development (UNCTAD), maritime shipping industry growth will likely slow or remain flat in 2023, driven by inflation and the ongoing war in Ukraine. For the overall 2023–2027 period, UNCTAD predicts growth at an annual average rate of 2.1%, slower than the previous 30-year average of 3.3%.
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Value Protect “can act as a substitute or as supplement to regular cargo insurance.”
Alex Hofeling and Tracy Zea are promoted and Tristan Koch is hired.
Individuals knowing of a reason why an applicant should not receive a license should contact the FMC’s Office of Transportation Intermediaries.
Shipping giant retains investment grade rating, but Moody’s expects it to operate at a higher leverage.
The two CMA CGM subsidiaries will “shore up our relevance in the economically thriving Asia through the CNC brand ahead.”
Online and mobile service designed to make it easy to buy, sell and move goods locally and globally
The U.S. and Moroccan governments agree on conditions to start allowing shipments of U.S. beef into the North African country.
Richard J. Bolte Jr. will remain CEO of the Philadelphia-based global logistics and transportation services company.
The new law includes provisions aimed at protecting suppliers such as U.S. marine terminal operators, tug boat operators and bunkering companies.
Rolf Schnellecke recognized for industry contributions; Debora Coffey hired to lead communications.
Container carrier says “carbon neutral vessels must be commercially viable by 2030” to achieve its goal.
Pilot project will focus on selling transportation on services from China to the United States.
Without reforms, the U.S. postal system, which lost $69 billion in revenue between 2007 and 2018, will lose tens of billions of dollars more over the next decade.
But the industry is much stronger financially than container liner companies, according to the consulting firm AlixPartners
The combined product offering will become “the first truly global visibility platform” and the largest across North America and Europe, according to the companies.
Ocean Alliance carrier will add Port Tampa Bay to the rotation of its transpacific Gulf of Mexico Express service.
Both companies will start using new formulas on Jan. 1 in advance of the low-sulfur exhaust mandate.
Department of Justice says it has an ongoing investigation into the international freight forwarding industry.
Submissions come from seven states as well as Puerto Rico.
Grace Greene takes helm of Saltchuk subsidiary during a time of uncertainty and optimism for The Last Frontier state.
IMO’s low-sulfur mandate and European review of liner shipping consortia exemption creating further uncertainties for the industry.
Regional structure is streamlined and a managing director is named.
The owner of trucking company RAMA Enterprise will spend 33 months in jail for wire fraud and failure to file a 2012 tax return.
Neoline seeks to start up a transatlantic service using an innovative ro-ro ship powered by wind.
Company veteran Steve Collar will lead the integrated organization as senior vice president and general manager.
Avin International Ltd. and Nicos I.V. Special Maritime Enterprises pleaded guilty in a federal court in Texas to charges of multiple oil discharges.
Printz Bolin promoted to vice president of external relations; Tim Strauss joins advisory board.
Customers will be able to view and manage multi-carrier shipments from a single platform.
“Supply chain technology and analytics have huge potential,” according to a partner at the investment firm.
Donald E. Wood Jr. and Woody’s Trucking ordered to pay nearly $1.3 million in connection with the illegal transportation of drip gas.
New York-based company adds industry veterans and offices in Texas and South Carolina.
CMA CGM is selling its logistics division to CEVA as it seeks a majority stake in the company through a tender offer.
Decision to retrofit 10 vessels made in response to upcoming low-sulphur regulation; first 13,000-TEU ship will be ready to sail in March.
Trans Global Projects Group-managed shipment departed U.K. facility Thursday for 9,600-mile trip expected to take between four and five weeks.
Shipper group says change would reduce costs, promote competition with NVOCCs.
The Office of Foreign Assets Control has taken particular aim at sanctioning those individuals and entities involved in the maritime transport of oil for the Assad regime.
Centralized location allows vehicle manufacturers to save on their inland distribution costs, says CEO John Murray.
New York-based company specializes in time-critical transportation and logistics solutions.
“Delivering value to get the most attractive cargo on board is at the heart” of the plan, says CEO Rolf Habben Jansen.
Compliance director gets seat on industry committee; Ohio company hires two and promotes two.
Peter Ulber will not stand for re-election at the annual general meeting in May.
Impact Transportation buys $275,000 battery-powered tractor for yard operations.
Company uses scenario of collision between LNG carrier and fishing boat for training.
BIMCO projects with capacity growing at half of this year’s levels, “the fundamental balance can only improve.”
Taiwanese carrier will pay $124 million to $140 million for four 2,500-TEU containerships.
Carrier is cooperating with Hapag-Lloyd and MSC to offer “market-leading transit times.”
An office is opening in Seattle and promotions are taking place in London and New York.
Higher volumes are not able to offset a decline in freight rates and higher fuel costs.
The commission remains concerned about how terminal operators of the West Coast MTO Agreement will apply the joint fee pricing process.
Korean carrier will “put its utmost efforts to stably secure additional cargoes” to fill the 20 ships on order.
IT executives from Maersk, MSC, CMA CGM, Hapag-Lloyd and ONE aim to create open standards that other stakeholders in the industry can freely use.
Daniel Maffei could return to the agency and could be joined by Florida maritime industry veteran L. E. Sola.
Brent Bruun and Mark Woodhead are given more duties, Jake Gilene is named senior vice president and Luc Smulders is appointed secretary-general.
Largest container carrier reports a 31 percent increase in revenue and a profit of $360 million in the third quarter.
The U.S. Environmental Protection Agency announced a plan that aims to further reduce nitrogen oxide emissions from truck engines.
Naum and Irina Morgovsky used their company to ship unlicensed infrared and thermal devices to Russia, a violation of the Arms Export Control Act.
British Airways and Iberia Airlines will pay $5.8 million in fines for falsely reporting the times they transferred U.S. mail to foreign postal operators
Worldwide Flight Services hires a vice president; California port names an IT director.
Facilities with exposure to steel and aluminum trade likely will see the earliest impact.
The liner carrier ordered eight, 3,036-TEU vessels and 12, 2,038-TEU vessels.
Normal LTL operations resume following vote count Sunday.
“An unfavorable supply-demand balance with weakening freight rates and escalating bunker prices” blamed for $134 million in carriers’ operating costs.
Second-largest cold storage company expands its footprint in the U.K.
Two Lebanese nationals are in custody on charges of attempting to illegally export weapons hidden in a car.
Norfolk Southern appoints senior vice president; Liberian Shipowners’ Council names general secretary
China’s largest retailer partners with Tianjin Air Cargo as it ramps up its logistics business.
Threat of higher tariffs continues to push up transpacific rates.
San Francisco firm has developed real-time collaborative logistics platform that “keeps everyone on the same page across the supply chain ecosystem.”
Chassis lessor says acquisition will enable it to control tire quality and cost.
Chairman of the board taking company reins; technology getting greater focus; and organization reconfirming leadership.
South Korea agrees to meet for bilateral negotiations as Japan threatens complaint with World Trade Organization.
Commissioner Dye said field interviews regarding Fact Finding 28 investigation offer industry further clarity on Federal Maritime Commission report’s objectives.
Court says a creditor’s inability to collect a judgment alone is insufficient to justify making the companies’ owner liable.
Federal agencies are “cracking down” on overseas affiliates and distributors that flout U.S. export control laws and regulations.
The Chapter 11 petition comes just days after the Greek company announced an audit committee had found the misappropriation of more than $300 million.
Katie Gerard is hired in Washington; Matt Balzola is promoted in Wisconsin.
CaseStack operates mixing centers for consumer product companies selling to retailers and helps manufacturers reduce transportation costs.
A U.S. District Court in Portland, Maine, ordered MST to pay a $3.2 million fine and implement an environmental compliance plan for its vessels.
Hawaii and Alaska carrier expects a strong fourth quarter, takes delivery of first of four new ships.
Dogs trained in the third-party explosives detection program will assist Transportation Security Administration teams in screening shipments, including foreign cargo.
CargoSmart CEO says the consortium provides an opportunity “to transform the shipping and logistics industry and elevate supply chain processes.”
Romaine Seguin most recently served as president of the Americas and will be succeeded by George Brooks.
Teamsters are expected to weigh in on an agreement with the freight division later this week.
Drewry’s Philippe Salles says the sheer volume of data required to provide granular track-and-trace details is a challenge to manage and decipher.
Jack Buono is named academy superintendent, Antje Lochmann is promoted by GEODIS and Jackie Cullison is hired by Stertil-Koni.
International Transport Federation says industry “does not have unique characteristics that justify exemptions from competition law.”
Customs and Border Protection issued guidance allowing reduced excise tax rates for alcoholic beverage imports and released documents needed to claim them.
The S.S. Fairland had a storied career before being converted for commercial operations.
Data from Bluewater Reporting shows 3.2 million TEUs currently are allocated each week from China to regions across the globe.
Preliminary analysis points to a combustible fuel or other compound inside the container bound for Taiwan.
Rising tariffs spur look at geographic shifts in supply chains.
White House applies eligibility for the Generalized System of Preferences to few new country-product combinations.
The fee comes after China imposed a 0.5 percent sulfur limit in the two cities.
Lineage Cool Port Oakland is a collaboration between Lineage Logistics and Dreisbach Enterprises.
XPO Logistics announced Wednesday that Matthew Fassler has been appointed chief strategy officer, effective Nov. 26. Fassler will have responsibility for the company’s strategy, capital structure and analysis of growth […]
Transshipping through Honolulu rather than Guam will reduce transit time from U.S. mainland by about a week.
Sam Ruda becomes the interim director for the Port Authority of New York & New Jersey; Clark Robertson joins the Port of Corpus Christi as chief operating officer.
Stockholm-headquartered CargoIT added to growing worldwide portfolio.
Fourth-quarter results are expected to be negatively impacted by a hurricane in the U.S., coal shipment delays in Australia and a locomotive driver shortage in the U.K.
The logistics software solutions provider expects sharp increases in earnings and revenue.