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Hanjin makes breakthrough in charters, debt repayment
Xiaolin Zeng |
There is a glimmer of light at the end of the Hanjin tunnel as its main charterer agrees to a deal and foreign banks delay debt repayments.
Container lines
Hapag-Lloyd shareholders approve UASC merger
Bruce Barnard, Special Correspondent |
Hapag-Lloyd shareholders Friday paved the way to a merger with United Arab Shipping Company and creation of the world’s fifth-largest container shipping line.
Container lines
Low volume growth squeezing global terminal operators' profits
Turloch Mooney, Senior Editor, Global Ports |
The reign of container terminals as profit leaders in supply chains is under pressure.
Port News
Maritime
Container lines
Long Beach emissions plan back on track after West Coast crisis setback
Bill Mongelluzzo, Senior Editor |
The congestion that crippled West Coast ports in 2015 temporarily derailed the progress in reducing pollution at the Port of Long Beach.
North American ports
Hanjin submits plan to raise cash, may sell more assets
Xiaolin Zeng, Special Correspondent |
Hanjin Shipping on Thursday submitted its plan to boost liquidity to the Korea Development Bank.
Container lines
APL re-enters India-Europe trade
India Special Correspondent |
APL’s tie-up with CMA CGM has allowed the Singapore liner to re-enter the India-Europe trade lane.
Container lines
US, aided by shippers, to mull new port productivity metrics
Reynolds Hutchins, Associate Editor |
The U.S. federal government, with the help of shippers and others, is trying to come to grips with how to improve port productivity.
Transport, Trade and Regulation News
North American ports
ODFL warns truck capacity could buckle as soon as early 2017
Bill Mongelluzzo, Senior Editor |
The long-anticipated, much-discussed truck driver shortage could surface again as a major problem as early as next year.
LTL
Hanjin liquidity plan expected Thursday
Xiaolin Zeng, Special Correspondent |
Hanjin Shipping will submit a plan to raise liquidity to its largest creditor, the Korea Development Bank, on Thursday.
Container lines
HMM, Hanjin say US importers staying put as volumes decline
Mark Szakonyi, Executive Editor |
Hanjin and HMM’s U.S. imports and exports were down in the first half compared with the same period a year ago despite general growth in both.
Container lines
With $2.6 billion in debt refinancing, XPO enters 'Phase 2'
William B. Cassidy, Senior Editor |
Refinancing saves XPO Logistics money that can be reinvested in "optimizing" its global business.
Logistics Technology News
GPA extends contract with regional chassis pool
Joseph Bonney, Senior Editor |
The Georgia Ports Authority has extended its five-year agreement with Consolidated Chassis Management’s South Atlantic Chassis Pool.
North American ports
Trucking News
Drayage
C.H. Robinson Worldwide targets small truckers with app
William B. Cassidy, Senior Editor |
Technology platform will enable dispatchers and drivers at small companies that contract with the logistics to book loads, assign them to trucks and track vehicles and shipments.
Truck brokers
Hanjin swings to loss as charter rate negotiations continue
Xiaolin Zeng, Special Correspondent |
Hanjin Shipping, the biggest of South Korea’s shipping outfits, swung to a loss in the second quarter.
Container lines
HMM posts profit as asset sales overcome operational losses
Xiaolin Zeng, Special Correspondent |
South Korea’s second-largest shipping line posted an overall net profit in the second quarter.
Container lines
Seattle-Tacoma to flex and extend port gate hours for peak season
Bill Mongelluzzo, Senior Editor |
Beneficial cargo owners are lauding a peak-season program of flex and late gates.
Marine terminals
Drayage
US trucker lawsuit could avert electronic logging device rule
JOC Staff |
The controversial mandate requiring electronic logging devices in U.S. trucks by the end of next year will reappear before a federal court next month, jeopardizing the fate of the rule itself, and the so-called “capacity crunch” it was expected to generate.
Transport, Trade and Regulation News
Trucking News
LTL
Trucking labor
Long Beach blames high inventories, uncertainty for traffic decline
Dustin Braden, Shipper Relationship Manager |
Laden imports at the Port of Long Beach declined in July, as high inventories and uncertainty in the shipping industry created headwinds for demand in the first month of the traditional trans-Pacific peak season.
North American ports
Weak rates drag Maersk Line to second-quarter loss
Greg Knowler, Senior Editor Europe |
All-time low rates dragged Maersk Line to a worse-than-expected loss.
Container lines
Los Angeles, Oakland import volumes bode well for peak season
Bill Mongelluzzo, Senior Editor |
July imports in Los Angeles and Oakland bode well for peak season.
North American ports
ILWU raises hopes for US West Coast contract extension
Bill Mongelluzzo, Senior Editor |
The International Longshore and Warehouse Union Thursday gave a huge boost to beneficial cargo owners looking for long-term labor stability.
Longshore labor
New deal lengthens Roadrunner’s LTL reach in Canada
William B. Cassidy, Senior Editor |
Canadian partner gives $2 billion U.S. trucking company more roads to run.
LTL
Shippers feel little strain from merger of top Chinese liners
JOC Staff |
Although mergers typically lead to disruption and irate shippers, that has not been the case in the recent merger of Cosco and China Shipping Container Lines.
Container lines
No escape from weak market for Maersk Line on eve of interim results
Greg Knowler, Senior Editor Europe |
Analysts do not expect Maersk Line to come out of the second quarter in the black.
Container lines
South Korean financial watchdog: No bailout awaiting Hanjin
Xiaolin Zeng, Special Correspondent |
The head of South Korea's financial watchdog on Wednesday said Hanjin Shipping should prepare for receivership, if it can’t reach an agreement with creditors and tonnage providers.
Container lines
ILA: Resolution of current issues must precede contract talks
Joseph Bonney, Senior Editor |
The International Longshoremen’s Association won't discuss a contract extension until disputes over the current contract are resolved.
Longshore labor
Forecast sees nearly flat global container port traffic in 2016
Bruce Barnard, Special Correspondent |
Global container traffic will likely grow at the second-slowest rate since 2009.
Port News
North American ports
Hapag-Lloyd falls to loss on slumping freight rates
Bruce Barnard, Special Correspondent |
Hapag-Lloyd sank to a net loss in the second quarter as average ocean freight rates plummeted.
Container lines
Capacity cuts seen driving high ship utilization, not peak demand
Greg Knowler, Senior Editor Europe |
Capacity discipline has pushed up vessel utilization rates.
Container lines
Maersk drops feeder services to 10 Chinese ports
Greg Knowler, Senior Editor Europe |
Maersk line has adjusted its third-party feeder network in China.
Container lines
Acquisition shows small truckers have room to grow
William B. Cassidy, Senior Editor |
In its first acquisition in 78 years, Kottke Trucking expanded its business 60 percent, gaining drivers, freight, scale and density.
Truckload
ILWU caucus to determine future of West Coast labor peace
Bill Mongelluzzo, Senior Editor |
A historic International Longshore and Warehouse Union caucus that could solidify the role of the West Coast as the preferred and natural gateway for U.S. trade with Asia will convene Wednesday in San Francisco.
Longshore labor
$255 million private equity infusion fuels LTL-based 3PL
William B. Cassidy, Senior Editor |
Fast-growing BlueGrace Logistics should grow faster with support from private equity firm Warburg Pincus.
LTL
Pushback against new LA-LB chassis fee intensifies as FMC inquires
Bill Mongelluzzo, Senior Editor |
Pushback against terminal operators' proposed chassis gate fee in Los Angeles-Long Beach intensifies.
Marine terminals
Container lines
NFI expands US trucking reach amid sluggish industry demand
Hugh R. Morley, Senior Editor |
Connecticut trucking company will enable fast-growing supply chain provider to expand amid sluggish growth elsewhere in the trucking industry.
Truckload
Weak market drags OOCL parent to first interim loss in seven years
Greg Knowler, Senior Editor Europe |
OOCL's first half loss is not good news for the industry.
CEVA revenue, earnings fall despite air, ocean traffic growth
Bruce Barnard, Special Correspondent |
CEVA Logistics posted lower revenue and earnings in the first half.
Logistics Technology News
Trucking resumes hiring, reversing five-month decline
William B. Cassidy, Senior Editor |
Does an uptick in trucking jobs indicate the trucking market is stabilizing?
Trucking labor
LTL
DSV profit rises as it returns UTi to profitability
Bruce Barnard, Special Correspondent |
DSV’s second-quarter profit rose as it “neutralized” the operating deficit of recently acquired UTi Worldwide.
Logistics Technology News
Improving LTL profit, XPO answers 'asset' questions
William B. Cassidy, Senior Editor |
With cost controls, disciplined pricing and a sharp eye on volume margins, XPO Logistics positions LTL for more profitable growth.
LTL
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