‘Some of the cargo imported from the United States is temperature-controlled perishable goods, such as dairy, meat and agricultural products,’ the GAO said in the report. ‘According to representatives of the Puerto Rico Farm Bureau, the cost and reliability of shipping perishable food items is important because the island has less than a week’s [...]
Matson announced Wednesday it is decreasing its fuel-related surcharge for its Hawaii service by 3.5 percentage points, from 40 percent to 36.5 percent, effective Sunday, April 28.
The fuel surcharge decrease is attributed to the recent moderation in bunker fuel prices.
“We are pleased to make this second consecutive downward adjustment to our fuel surcharge, [...]
As the Hong Kong dockworkers’ strike for better pay and working conditions enters its fourth week, some analysts believe there could be long-term economic repercussions for the city and port.
Since March 28, lines and shippers have suffered serious delays or been forced to reroute services to avoid calls at facilities operated by Hongkong International [...]
The strike has prompted shipping lines to divert vessels to Shenzhen, China, from Hong Kong’s harbor, and is the biggest revolt against Li, 84, Asia’s richest man. About 450 workers, mostly crane operators and stevedores, walked out on March 28, seeking higher wages and better working conditions as rising living costs and record home [...]
Shippers are working together to control rising transportation costs much more than is widely realized, a survey of more than 100 companies shows.
More than half the companies surveyed, 54.9 percent, told the National Shippers Strategic Transportation Council (NASSTRAC) they collaborate with other shippers as well as carriers to control transportation costs.
More than a [...]
From Port Strategy:
Each AGV has a capacity of 70 tons.
US equipment company, Terex Port Solutions (TPS) has received an order for 72 battery powered Terex Gottwald Automated Guided Vehicles (AGV) from Hong Kong’s Orient Overseas Container Line (OOCL).
The order is the first for AGVs and associated equipment that has ever been placed [...]
The 15 TSA members, which include Orient Overseas Container Line, Cosco Container Lines, China Shipping Container Lines and Maersk Line, control about 85 per cent of the freight transported from Asia to the US. Members of the WTSA, which has seen membership drop to eight members from 10, including OOCL, Cosco and Evergreen Line, [...]
Hanjin Shipping Company Ltd. will not be building a $300 million container shipping terminal at the Port of Jacksonville, Jacksonville Port Authority Interim CEO Roy Schleicher said Thursday morning.
Weakness in the economy caused the project’s demise, not the 47-foot dredging depth planned for the St. Johns River shipping channel, which Jaxport voted to pursue [...]
Israel Corporation has announced that wholly-owned subsidiary Zim Integrated Shipping Services Ltd. yesterday signed an agreement with a shipyard, with immediate effect, to cancel contracts for the purchase of five of the nine ships ordered in 2007-08. The ships were originally due to be delivered in 2012, but due to the 2008 global economic crisis, [...]
OOCL reported profit in 2012 was $297 million, jumping 63 percent from $182 million in 2011.
Yearly revenue was $6.5 billion, up 7 percent from $6.0 billion in the previous year. Revenue per TEU rose 2.9 percent to $1,131.
The container line’s liifting increased 3.7 percent to 5.2 million 20-foot-equivalent units. Operating capacity increased 8.8 [...]
From the Journal of Commerce:
Carriers in the eastbound Pacific look to 2013 as a year in which they will return to profitability. They also intend to avoid the extreme rate volatility that defined their relationship with customers last year.
This optimistic scenario could play out if carriers’ performance in January sets the tone for [...]
A.P. Moller-Maersk said Friday it had fourth-quarter earnings of $975 million on improved rates in its container subsidiary, the Associated Press reported.
Revenue in the fourth-quarter for the owner of the world’s largest shipping company, Maersk Line, rose almost 3% to $15 billion, AP reported.
Its full-year profit rose 6% to $60 billion, and revenue [...]
Terminal Link, a wholly owned subsidiary of Marseilles-based CMA CGM, operates 15 container terminals in France, West Africa, the U.S. and Canada as well as Malta Freeport, a major Mediterranean transhipment hub. Graphic from Loadstar.
French ocean carrier CMA CGM has agreed to sell a 49 percent stake in its Terminal Link ports unit [...]
Maersk reported the company had reached their target ‘largely from a combination of operational efficiency, network and voyage optimisation, slow steaming and technical innovation’ and that its Triple-E vessels ‘will be the largest and most energy efficient ships on the water.’
Maersk Line has reached its own 2020 target of reducing its fleet-wide CO2 [...]