Reported in the Wall Street Journal:
The opening up of the Arctic for commercial cargo offers a faster route for some shipments between Europe [...]
Excerpts from a Journal of Commerce article called ”Hapag says 16 services affected by LA-LB congestion”:
Adding to other recent evidence that congestion at the Los Angeles-Long Beach ports is worsening, Hapag-Lloyd Wednesday announced delays to multiple services and said the overall situation “has reached a critical point.”
Hapag said it’s also facing “an acute [...]
A canola-crushing plant owned by the Canadian unit of global grain trader Louis Dreyfus Corp will be offline indefinitely after an explosion and fire on Friday, the company said.
Firefighters are investigating the cause of the blast at the Yorkton, Saskatchewan, plant, and an assessment of the structural condition of [...]
From SeaTrade Global:
South Korea’s Hanjin Shipping has generated a profit in the third quarter of 2014, reversing from a loss-making position a year ago, due mainly to a one-time gain on foreign currency translation.
Net profit in the quarter ended 30 September 2014 was registered at KRW39.8bn ($37.3m) as against a deficit of KRW317.7bn [...]
Maersk line on Friday doubled its congestion surcharge for shipments from the U.S. and Canada to Manila, citing a slowdown in port operations, increasing vessel turn times and higher operating costs.
The congestion seen at Manila since early this year, which is some of the worst congestion seen at any major container port this year, [...]
The quantum leap in container vessel sizes over the last decade has left the logistics industry searching for answers about who really wins with the introduction of mega-vessels, mega-alliances and their much-lauded economies of scale.
As the supply chain is being re-shaped to accommodate 18,000teu vessels and the world’s largest shipping lines stretch, [...]
Excerpts from the Journal of Commerce:
Congestion continues to plague Los Angeles-Long Beach despite efforts by terminal operators to remain open longer and use all longshore labor at their disposal.
“They’re showing up to work,” said Jim McKenna, president of the Pacific Maritime Association, the employers’ organization that negotiates and administers the International Longshore and [...]
Costa Rica’s labor ministry (MTSS) presented a formal proposal outlining a 406bn-colón (US$751mn) investment plan intended to strengthen Atlantic port authority Japdeva and develop projects in Limón province.
The proposal seeks to resolve an ongoing dispute between the government and the Japdeva labor union Sintrajap.
Some 270bn colones would go to widen the Braulio Carillo [...]
Costa Rica’s Labor Minister Victor Morales announced that negotiations with the dockworkers union SINTRAJAP would be suspended until its leaders issued a public statement denouncing the burning of President Luis Guillermo Solís’ image outside union headquarters in the Caribbean port of Limón on Monday. Negotiations were originally scheduled to continue at the Labor Ministry on [...]
Unionized workers of Hyundai Heavy Industries endorsed a strike over wage and benefits, threatening to halt production at the world’s largest shipbuilder for the first time in 20 years. Shares of Hyundai Heavy slumped 3.4% in recent trading. The KOSPI Index was down 0.1%. Its competitor Samsung Heavy Industries (010140.KS) fell 2.7%.
Korean shipbuilders are [...]
From the Journal of Commerce:
The Harbor Trucking Association will explore the possibility of filing a class action lawsuit against terminal operators at the ports of Los Angeles, Long Beach and Oakland as congestion worsens at the California ports, the association announced [last week].
In three identical letters sent to the ports of Los Angeles, [...]
From the Star-Advertiser:
Matson Inc., the state’s largest ocean cargo carrier, said Thursday it will lower its Hawaii fuel surcharge by 5 percentage points to 37.5 percent Nov. 2 to compensate for falling ship fuel prices.
The decrease follows two increases earlier this year — 3 percentage points in June and 5 percentage points [...]
From the Journal of Commerce:
APM Terminals has disputed the International Transport Workers Federation’s description of last week’s strike at Aqaba Container Terminals in Jordan as a “victory” for the union representing the terminal’s dockworkers.
“We find the ITF’s statements misleading, incorrect and not supported by facts…The strike was premature and illegal, especially when [...]
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