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News and analysis of freight forwarding, NVOCCs, third-party logistics, and shipper strategies
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News & Analysis
HHLA Boosted Traffic, Revenue, Profit in 2011
Bruce Barnard, Special Correspondent |
HHLA, Hamburg’s biggest stevedore, boosted container traffic 21.3 percent in 2011 from a year ago, significantly outpacing growth in Antwerp and Rotterdam to boost its market share in the fierce
Port News
Maritime
Forwarding
ILWU to Handle First Vessel at EGT Grain Terminal
Bill Mongelluzzo, Associate Editor |
The International Longshore and Warehouse Union members on Tuesday will help load the first vessel to arrive at the new EGT export grain terminal in Longview, Wash., putting an end to months of rancor
Port News
Maritime
Forwarding
Hyundai Merchant Marine Loses $327 Million
Joseph Bonney, Senior Editor |
South Korea’s Hyundai Merchant Marine reported a 2011 operating loss of $327 million, reversing a profit of $541 million in 2010, as revenue fell and costs rose.<br /> <br />
Container lines
Maritime
Forwarding
Container Corp. of India Profit Rises 6 Percent
JOC Staff |
Container Corporation of India boosted third quarter net profit 6 percent from a year ago to $49.2 million, as growth in the state-owned company's core container hauling business pushed revenue up 8 p
Forwarding
Maritime
Rail News
Bridgestone to Open Its Largest Factory in Vietnam
Mike King, Special Correspondent |
Bridgestone plans to open a $575 million factory in 2014 near the Vietnamese city of Hai Phong, as the coastal city becomes a major export gateway for multinational corporations. <br /> <br />
Port News
Maritime
Forwarding
TUI Poised to Sell Hapag-Lloyd Stake
Bruce Barnard, Special Correspondent |
German tourism company TUI is reportedly close to selling another slice of its remaining 38.4 percent stake in Hapag-Lloyd to the Albert Ballin consortium, the Hamburg-based ocean container carrier&rs
Container lines
Maritime
Forwarding
Highway Robbery
Peter T. Leach, Senior Editor |
Cargo thieves struck five times at rest stops around Memphis in November and December, stealing truckloads of computer game consoles on their way to stores in the run-up to Christmas. <br /> <br />
Forwarding
Maritime
North Carolina Ready to Duke It Out
Peter T. Leach, Senior Editor |
About 90 miles west of the North Carolina coast rests the sprawling airport of Kinston, which boasts the longest jet runway between Washington, D.C., and Atlanta.
Port News
Maritime
Forwarding
Container Carriers Sailing in the Red
Joseph Bonney, Senior Editor |
The red tide is coming in. Container ship lines are starting to report their results for 2011, and the numbers aren’t pretty. <br /> <br />
Container lines
Maritime
Forwarding
Prince Rupert Container Traffic Up 20 Percent in 2011
Courtney Tower, Special Correspondent |
Container throughput in 2011 at the Port of Prince Rupert jumped 20 percent year-over-year, while the emerging gateway's larger West Coast rival, Port Metro Vancouver, saw flat traffic in the same per
Port News
Maritime
Forwarding
Crowley Names Ayala to Head Puerto Rico Trade
Peter T. Leach, Senior Editor |
Crowley Maritime promoted Jose “Pache” Ayala to vice president for the Puerto Rico trade. <br /> <br />
Container lines
Maritime
Forwarding
Maersk Sells Chassis-Leasing Subsidiary
Peter T. Leach, Senior Editor |
Maersk Inc., the U.S. arm of the A.P. Moller-Maersk Group, agreed to sell Direct ChassisLink, its chassis-leasing subsidiary, to the private equity firm Littlejohn & Co. <br /> <br />
Port News
Maritime
Trucking News
Container lines
Forwarding
Container Imports Rose 3 Percent in 2011
Joseph Bonney, Senior Editor |
Rising shipments of auto parts and recovering demand for furniture pushed U.S. containerized imports up 2.4 percent in December, capping a year in which volumes increased 3 percent.<br /> <br />
Forwarding
Maritime
A New Ceiling From the Factory Floor
Joseph Bonney, Senior Editor |
Hyundai’s car plant in Montgomery, Ala., is running at 110 percent of official capacity. Deere and Caterpillar report double-digit sales increases. U.S.
Forwarding
Maritime
FDA Blocks 20 Shipments of Imported Orange Juice
William B. Cassidy, Senior Editor |
The Food and Drug Administration blocked more shipments of orange juice from entering the U.S. and found traces of an illegal fungicide in domestic juice.<br /> <br />
Forwarding
Maritime
Moody's Downgrades MOL, NYK Line
Mark Szakonyi, Daily Content Editor |
Moody’s this week downgraded the ratings of Japanese ocean carriers NYK Line and MOL, citing concerns that vessel overcapacity could prevent the companies from paying down debt. <br /> <br />
Container lines
Maritime
Forwarding
Container Lines Gain Record Schedule Reliability
Peter T. Leach, Senior Editor |
Container shipping lines boosted the reliability of their service schedules to a new record of on-time arrivals in the last quarter of 2011.<br /> <br />
Container lines
Maritime
Forwarding
Indonesia Boosts Exports, Taps Manufacturing Shift
Mike King, Special Correspondent |
Indonesian exports in 2011 rose 29 percent year-over-year to $204 billion, as Southeast Asia’s largest economy taps manufacturers' shift of production away from disaster-affected Thailand and Ja
Forwarding
Maritime
Asia-Europe Spot Rates Drop 6.4 Percent
Peter T. Leach, Senior Editor |
Average spot rates on the Asia-Europe trade lane dropped this week for the second week in a row, even as carriers including <a href="http://www.joc.com/trade-lanes/maersk-hikes-india-middle-east-europ
Container lines
Maritime
Forwarding
Hanjin Seeks $700 Increase in Asia-Europe Rates
Peter T. Leach, Senior Editor |
Hanjin Shipping joins other major ocean carriers in pushing bold rate increases on the depressed Asia-Europe trade lanes, announcing a $700 price hike that would boost the rate more than double the cu
Container lines
Maritime
Forwarding
Costamare More Than Doubled Net Income Last Quarter
Bruce Barnard, Special Correspondent |
Costamare more than doubled its fourth quarter net income to $26.1 million from a year ago, as the Greek containership charter owner expanded its fleet and capped voyage operating costs.<br />
Forwarding
Maritime
Export Advocates Urge Congress to Reform Harbor Tax
R.G. Edmonson, Associate Editor |
A Louisiana agriculture official urged Congress on Wednesday to direct the Army Corps of Engineers to fully tap the Harbor Maintenance Tax Fund, so the lower Mississippi River could be dredged to hand
Transport, Trade, and Regulation News
Maritime
Forwarding
SC Senate Rebukes Governor, Votes to Block Savannah Dredging
Peter T. Leach, Senior Editor |
The South Carolina Senate voted unanimously Tuesday to rebuke Gov.
Port News
Maritime
Transport, Trade, and Regulation News
Forwarding
North American ports
MSC Hikes Rates from US to Middle East, India, Africa
JOC Staff |
Mediterranean Shipping will apply a general rate increase for U.S. shipments to the Middle East, India, the Mediterranean and Africa, starting March 1. <br /> <br />
Container lines
Maritime
Forwarding
Trucker ODFL Expands Trans-Pacific, Drayage Services
William B. Cassidy, Senior Editor |
Less-than-truckload operator Old Dominion Freight Line is moving deeper into the drayage business, opening a container drayage facility in the Pacific Northwest.<br /> <br />
LTL
Trucking News
Forwarding
US Factory Production Accelerated in January
Joseph Bonney, Senior Editor |
A widely watched economic gauge showed U.S. manufacturing activity picked up speed in January, growing to its highest level since last June. <br /> <br />
Transport, Trade, and Regulation News
Forwarding
Yusen Logistics Profit Surges on Revenue Jump
Hisane Masaki, Special Correspondent |
Yusen Logistics’s net profit surged 14.7 percent in the first nine months of fiscal 2011, which started on April 1, 2011, as the Japanese forwarder saw revenue jump 90.9 percent in the same peri
International ports
Air Cargo
Forwarding
Trans-Pacific Spot Rate Stays Firm Amid Sluggish Demand
Peter T. Leach, Senior Editor |
The average spot rate on the eastbound trans-Pacific didn’t budge this week as a lull in demand for cargo space set in after the week-long Asian New Year holiday last week.<br /> <br />
Container lines
Maritime
Forwarding
Marseilles Container Traffic Slips, Total Cargo Rises
Bruce Barnard, Special Correspondent |
Marseilles again fell short of its 1 million container target in 2011 as traffic declined 1 percent from a year ago even as France’s biggest port booked a 3 percent increase in total cargo throu
Port News
Maritime
Forwarding
New Orleans Container Traffic Jumps 11.6 Percent
Peter T. Leach, Senior Editor |
Container throughput last year at the Port of New Orleans rose 11.6 percent to set a cargo record for the second straight year, as exports, particularly chemical and agriculture products, surged.
Port News
Maritime
Forwarding
Container Traffic at South Korea's Busan Rose 14 Percent
Mike King, Special Correspondent |
Container throughput at the South Korea’s Busan port in 2011 rose 14 percent year-over-year, and the North Asian transhipment hub expects more than 8 percent traffic growth this year. <br />
International ports
Forwarding
A.P. Moller-Maersk Taps Jakobsen to Lead African Expansion
Peter T. Leach, Senior Editor |
A.P.
Forwarding
Maritime
Container lines
Costamare Plans to Sell Up to $300 Million in US Stocks
Bruce Barnard, Special Correspondent |
Costamare filed a shelf registration statement with U.S. market regulators to enable the Greek containership charter owner to sell up to $300 million of stock.<br /> <br />
Forwarding
Maritime
Alphaliner Says Gains From Slow-Steaming Exhausted
Bruce Barnard, Special Correspondent |
Ocean carriers have reached the limit of slowing the speed of their ships to soak up surplus capacity and must now cull services and idle more vessels to rebalance the container market, Alphaliner sai
Forwarding
Maritime
Container lines
DP World Boosts Container Traffic 10 Percent
Bruce Barnard, Special Correspondent |
DP World, the world’s third largest container terminal operator, boosted traffic by 10 percent in 2011 from a year ago on strong growth in emerging markets, prompting a forecast that core earnin
Port News
Maritime
Forwarding
Hanjin’s 2011 Container Losses Hit $487 Million
Joseph Bonney, Senior Editor |
Hanjin Shipping, the first major carrier to report financial results for 2011, said its container operations lost $487 million last year as low rates and high fuel prices offset higher volume.<br />
Container lines
Maritime
Forwarding
A.P. Moller-Maersk CEO Extends Medical Leave
Peter T. Leach, Senior Editor |
A.P. Moller-Maersk CEO Nils Smedegaard Andersen is extending his medical leave until the end of the first quarter following heart surgery.<br /> <br />
Container lines
Maritime
Forwarding
APL Raises India to Europe, Mediterranean Rates
JOC Staff |
APL imposed a peak-season surcharge on westbound trade from India to Europe and the Mediterranean, starting Feb. 1.<br /> <br />
Container lines
Maritime
Forwarding
APL Revenue Dropped on Higher Volume in Late 2011
Peter T. Leach, Senior Editor |
APL in the last six weeks of 2011 shipped more containers year-over-year, but the carrier’s annual revenue by container plunged by double-digits as rates on the main east-west trade lane hit rec
Container lines
Maritime
Forwarding
Indonesian Government Scraps Jakarta Terminal Plan
Mike King, Special Correspondent |
The Indonesian government’s cancellation of a plan to build a container terminal in Jakarta is fueling fears that the country’s failure to improve its infrastructure will constrain economi
Port News
Maritime
Forwarding
Container lines
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