Drewry: Ocean Network Express will be sixth largest container carrier
The Ocean Network Express – consisting of Japanese ocean carriers “K” Line, MOL and NYK – will have a containership fleet of close to 1.4 million TEUs when it launches, […]
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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The Ocean Network Express – consisting of Japanese ocean carriers “K” Line, MOL and NYK – will have a containership fleet of close to 1.4 million TEUs when it launches, […]
The Montreal-based Class I railway has been ordered to pay a federal fine of $2.5 million Canadian (U.S. $1.9 million) and a provincial fine of C$125,000 in relation to a […]
Meanwhile, UPS Freight rates are scheduled to increase by 4.9 percent effective June 26, the Atlanta-based parcel giant said.
The Commerce Department has determined that Chinese hardwood plywood is being dumped on the U.S. market at less than fair value.
The World Trade Organization has updated its website to offer shippers a clearer and more up-to-date view into its members’ legislation and practices as they relate to rules of origin.
Pilot Freight Services names new chief executive officer and president, while the Port of Tacoma hires new director of engineering, and Americold hires executive vice president and chief commercial officer.
President Donald Trump’s announcement in Miami on Friday that he will roll back the Obama administration’s U.S.-Cuba trade policies has left many industry groups in a sour mood.
The Greenwich, Conn.-based third-party logistics provider will focus on companies that will bolster its existing business lines, particularly in contract logistics, rather than adding new services, according to a Wall […]
The International Chamber of Shipping is urging the United Nations’ International Maritime Organization to back a proposal that seeks to change the installation deadline for the Ballast Water Management Convention.
The U.S. Department of Agriculture, as part of its recently announced reorganization, has appointed Jason Hafemeister to acting deputy undersecretary for trade and foreign agricultural affairs.
The flight from Afghanistan to India, which officials from both countries hope will be the first of many, departed Monday carrying approximately $5 million worth of goods, according to a […]
TOTE Services hires vice president, marine operations, government & commercial; while the Port Authority of New York & New Jersey names new director of tunnels, bridges and terminals.
The Federal Bureau of Investigation (FBI) is examining a false threat that a “dirty bomb” was on the Maersk Memphis at the Port of Charleston’s Wando Welch terminal, according to […]
Three previous chief operating officers at the Federal Aviation Administration (FAA) have expressed their support for President Donald Trump’s proposal to shift the air traffic control function of the FAA […]
Clayton Harris III, executive director for the Illinois International Port District at the Port of Chicago, is pushing for the passage of House Bill 1797, which would forgive a $15 […]
Global third-party logistics provider annual revenues reached $802 billion in 2016, and are on track to exceed $962 billion by 2020, the consulting firm said in its latest 3PL market […]
The all-cash transaction for the specialty supermarket chain is valued at around $13.7 billion and expected to close during the second half of 2017, the companies said in a statement […]
Over 250 members of Congress have written a letter to House Ways & Means Chairman Kevin Brady calling for a long-term fix to the Highway Trust Fund, which serves as […]
Ports covered by the Global Port Tracker handled 1.61 million TEUs in April 2017, the latest month for which after-the-fact numbers are available, a 4.8 percent increase from the previous […]
The Silicon Valley-based trucking applications technology provider has already raised $21.5 million from Renren and Wicklow Capital of Chicago, among others, and is currently talking with investors about a Series […]
Irvine, Calif.-based temperature-controlled warehousing and logistics company Lineage Logistics has acquired Partner Logistics, a Netherlands-based provider of automated warehousing and frozen storage solutions.
Mediterranean Shipping Co. (MSC), the second largest container carrier worldwide, currently has three vessels under time charter from the now-insolvent Rickmers Group.
However, Jim Johnston, chief executive officer of the Owner-Operator Independent Drivers Association, said the association will continue to lobby against the electronic logging device mandate on the congressional side.
The e-commerce fulfillment and technology provider said it will not only use the investment to continue improvements on its technology dashboard, but also to expand its fulfillment centers across the […]
The struggling South Korean shipbuilder will sell the new stock at 40.35 won a piece in a bid to strengthen its financial status, Yonhap News Agency reported.
The Swiss-based third-party logistics provider in May started printing the total amount of carbon dioxide emissions generated by sea freight shipments on each invoice.
Petredec entered into an agreement with Bidvest Tank Terminals to develop a liquefied petroleum gas (LPG) import and storage facility in Richards Bay, South Africa.
Delta Air Lines Cargo appoints managing director, cargo global sales; and Roadrunner Transportation Systems, Inc. names president of Roadrunner Freight.
The Rhode Island Department of Transportation has entered into a contract with Kapsch Traffic Com IVHS to design and build electronic tolling facilities and related infrastructure for the state’s controversial […]
The World Trade Organization on Friday issued a compliance panel report in which the United States said it rejects nearly all the European Union’s claims that U.S. subsidies to Boeing […]
Through its subsidiaries SAAM Puertos and SAAM Inversiones, SAAM acquired a 15 percent interest in Iquique Terminal Internacional (ITI) from Grupo de Empresas Navieras, and now controls 100 percent of […]
However, U.S. lamb export volumes and total value for the month fell 23 percent and 19 percent, respectively, compared with the previous April.
President Donald Trump said his proposal would reduce permitting time for transportation infrastructure projects, and includes an investment in new federal support for infrastructure, which will be matched by significant […]
The U.S. Transportation Department’s Federal Motor Carrier Safety Administration has announced two proposals that it said helps address the national shortage of qualified truck drivers.
The U.S. District Court of Puerto Rico held Inter-Island Ferry was within its rights in filing suit against Puerto Rico Ports Authority (PRPA) and the Maritime Transport Authority (MTA) for […]
The industrial real estate services and investment management firm said healthy consumer spending and strong e-commerce s ales are driving demand for warehousing and distribution space.
Since the port authority’s fiscal year began in July 2016, the port has moved 1.96 million TEUs, a 9.4 percent increase over the same period last year.
Germany’s largest ocean carrier, Hapag-Lloyd, said it is confident it will be able to ensure a complete integration with Kuwait-based carrier United Arab Shipping Co. (UASC) by the fourth quarter […]
U.S. Secretary of Transportation Elaine Chao touted the benefits of automated vehicle technology at a DOT event earlier this week, but noted that the primary obstacle to the deployment of […]
Emmanuel Macron was officially sworn in as the president of France on May 14, which will be good for the future of international trade between France and countries across the […]
U.S. Customs and Border Protection’s new “The Truth Behind Counterfeits” campaign will focus on international air travelers who may be tempted to purchase counterfeit goods while abroad.
The U.S. Chamber of Commerce this week started the U.S.-Mexico Economic Council, an organization that will work to improve economic and commercial partnerships between the two countries.
Atlas Canada, a subsidiary of Atlas World Group, has acquired freight brokerage Connect Logistics of Mississauga, Ontario, for an undisclosed sum.
The Jacksonville, Fla.-based Class I railway’s shareholders voted 93 percent in favor of making the $84 million payment in connection with the retention of E. Hunter Harrison as chief executive […]
The International Air Transport Association wants to break free from outdated processes that hold air cargo back and has adopted a resolution that it believes will accelerate the modernization of […]
In addition, Maersk Line has ceased accepting cargo between Qatar and various countries, including the United Arab Emirates, Saudi Arabia, Egypt, Bahrain and Yemen, as diplomatic tensions rise.
The Northern California port’s rail profile could soon improve thanks to recent investments, according to Chris Lytle, executive director of the Port of Oakland.
The International Air Transport Association (IATA) appoints chairman of board of governors, while SeaCube and Kuebix both name new chief executive officers, and BIMCO elects president.
Dockworker labor strikes are scheduled to take place every other hour on Monday, Wednesday and Friday this week, and could continue into next week as well.
The freight marketplace and rate management software provider has extended its online marketplace to the United Kingdom.
Delta Air Lines Cargo and Grupo Aeromexico have entered a joint cargo cooperation agreement to give customers with U.S.-Mexico cross-border shipments a broader array of flights and trucking options, the […]
MSC Group hires executive vice president of maritime policy and government affairs, while Huntington Ingalls Industries appoints vice president of strategic sourcing at the company’s Newport News Shipbuilding division.
President Donald Trump said the proposal would modernize air traffic control technology and lead to a more efficient aviation system, but opponents fear the proposal could hand over government assets […]
The nation’s trade deficit in goods and services stood at $47.6 billion in April, a 5.2 percent increase from March, surpassing the $46.5 billion deficit projection of economists polled by […]
The Federal Aviation Administration has proposed a $435,000 civil penalty against United Airlines for allegedly operating a plane that was not in airworthy condition.
Darien, Conn.-based short line and regional railroad operator Genesee & Wyoming has completed its acquisition of the shares of Atlantic Western Transportation, parent company of the Heart of Georgia Railroad.
The Atlanta-based parcel giant also unveiled plans to spend $180 million constructing a new package processing hub outside of Phoenix, Ariz.
The number of containerships deployed between Asia and the U.S. West Coast with capacity for 13,000 TEUs or more has nearly doubled since the start of 2017, but carriers are […]
President Donald Trump’s decision to withdraw the United States from the Paris Climate Agreement on Thursday has U.S. industry organizations worried about the impacts on future international trade.
The Bentonville, Ark.-based retail giant started testing the delivery service, which will utilize in-store employees as drivers, at three stores in the United States.
Logistics systems provider Descartes Systems Group has acquired the assets of Progressive Computer Services, known as PCSTrac, for $11.25 million.
The fiscal year budget will help the port stay “laser-focused on targeted infrastructure improvements, technology solutions and strategic resource use,” according to Port of Los Angeles Executive Director Gene Seroka.
Although the Shanghai Containerized Freight Index rose on trades from Shanghai to North Europe to the Mediterranean, it declined on routes to the United States.
According to PIERS Data, South Korean ocean carrier Hyundai Merchant Marine handled 13,186 TEUs per week on the Asia to U.S. West Coast trade in April 2017, up 73 percent […]
Saddle Creek names chief operating officer, Prince Rupert Port Authority appoints board member, the S.C. Department of Commerce names senior program director, and the American Trucking Associations’ executive director of […]
California is setting ambitious new environmental goals, but questions remain about whether truckers, marine terminals, and other links in the supply chain will be able to reach those goals, let […]
Germany’s largest ocean carrier is looking to cut up to 12 percent of its almost 11,000 land-based employees, according to Rainer Horn, director of public relations at Hapag-Lloyd.
The Committee for Economic Development of The Conference Board said deferred maintenance and a growing gap between investment needs and available funds threaten the ability of our roads and bridges […]
The management board of HSH Nordbank AG has “surprisingly denied” approval of the term sheet for Rickmers Group’s planned financial restructuring, according to a statement from the company.
The Federal Aviation Administration will award up to $527.8 million in infrastructure grants to 584 airports across the country as part of the agency’s Airport Improvement Program.
The all-cargo airline handled 158,000 metric tons of cargo during the first quarter of 2017, an increase of 17 percent compared with the same 2016 period.
USA Truck hires vice president, revenue operations, Day & Ross appoints president and CEO, NxtPort names new chief technology officer, and ECS Group nominates CEO.
Washington, D.C.-based think tank Institute for Science and International Security warns some export control reform actions could make it easier for pariah nations or terrorist groups to obtain sensitive U.S. […]
Despite a $16 million aggregate financial loss for ocean carriers in the first quarter, London-based maritime consultant Drewry is projecting a $1.5 million profit for the industry and may even […]
The 70 acres of property at the Point Breeze Business Center is expected to be used as a container storage location, but can also be used for automobiles and roll-on/roll-off […]
Meanwhile, Commerce Department’s Census Bureau reported that new orders for manufactured durable goods in April decreased 0.7 percent to $231.2 billion after four consecutive monthly increases.
The Athens-based shipowner attributed a sharp decline in earnings primarily to the impact of ocean carrier Hanjin Shipping’s bankruptcy, which resulted in $22 million in lost operating revenue, as well […]
U.S. Transportation Department’s Deputy Secretary Jeffrey Rosen has been tapped by Secretary Elaine Chao to head the department’s Regulatory Reform Task Force.
“While we’ve always been a freight forwarder, the bulk of our business has been driven by northbound transportation into the Canadian market,” Purolator International President John Costanzo said of the […]
Direct ChassisLink, Inc. names president, Kansas City Southern adds four new members to its board of directors, and Genesee & Wyoming appoints board chairman.
Rep. Alan Lowenthal, D-Calif., says he wants freight infrastructure to “declare its independence” from the Obama administration’s Fixing America’s Surface Transportation (FAST) Act because it is too closely tied to […]
Operations at the Port of Chittagong remained suspended as of 3:00 p.m. local time Tuesday, but flight operations at Chittagong’s Shah Amnat International Airport have resumed, the Dhaka Tribune reported.
The parcel carriers will focus initially on international delivery services from China to the United States and plan to expand their joint offerings to other destinations in the near future.
The largest port on the U.S. East Coast saw its share of containerized cargo slip in the first four months of 2017, but may have a chance to gain market […]
Rep. Mark Meadows, R-N.C., last Thursday introduced the Revamping American Infrastructure Act of 2017, legislation that would to remove outdated regulatory obstacles and encourage the use of technology, according to […]
The civil settlement reached Friday over a former food supply contract to the Defense Department will allow Agility to move forward on future U.S. government business, the third-party logistics provider […]
The $512 million redevelopment project, of which ocean carrier Mediterranean Shipping Co. will contribute $222 million, seeks to make Port of San Pedro in the Ivory Coast a major transhipment […]
The U.S. Federal Maritime Commission’s notice of inquiry requesting the ocean shipping industry’s input into how it might eliminate or change outdated and burdensome regulations is now ready.
The U.S. Transportation Department’s Maritime Administration said the funding will support capital improvements and employee training at small shipyards across the country.
Port officials are hopeful the federal government will approve a $155 million grant to help increase clearances in the Howard Street Tunnel and other locations along the CSX railroad in […]
Airlines for America said the Trump administration’s proposal to privatize the nation’s air traffic control system would result in shorter flights, fewer emissions and fewer delays, while the Alliance for […]
The U.S. Army Corps of Engineers’ Fiscal Year 2017 Work Plan carves out more than $170 million in funding that will go toward several port deepening and construction projects across […]
U.S. and Mexican customs authorities hope to provide fully restored operations at the World Trade Bridge border crossing in Laredo, Texas, on Monday, May 29.
The ocean shipping industry is still grappling with the post-Hanjin reality that another major carrier could go bankrupt, potentially stranding cargo on the water and leaving shippers, creditors, and service […]
Since last Friday, the Shanghai Containerized Freight Index increased on trades from Shanghai to Europe and the Mediterranean, but declined on trades to the United States.
Oak Brook, Ill.-based Hub Group will pay $306 million for the contract logistics firm, which owns and operates more than 1,200 power units and 5,000 trailers.
The Federal Maritime Commission’s Regulatory Reform Task Force, which was announced in March by Acting Chairman Michael A. Khouri, aims to identify burdensome, unnecessary and outdated directives, and recommend how […]
Total cross-border trade between the United States, Mexico and Canada in March exceeded $100 billion for the first time since October 2014, according to the Department of Transportation’s Bureau of […]
The Monaco-based containership charterer will use the proceeds of a secondary stock offering for ship purchases and repayment of debt, Costamare said in a statement.
The SE8 service between Malaysia, Singapore and Vietnam will complement Yang Ming’s existing TSE loop, the Taiwanese ocean carrier said in a statement.