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New and updates

New and updates

New pact with China could propel rice to major US export

Wed, 16 Aug 2017

New pact with China could propel rice to major US export

US exports of containerized rice surged more than 40 percent in the first half. A new bilateral agreement could open China’s huge market to US rice as early as next year and propel now moderate rice volume through Oakland and other ports. “The signing of the phytosanitary agreement was a big, big...

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Indian dockworkers again threaten strike over port reforms

Wed, 16 Aug 2017

Indian dockworkers again threaten strike over port reforms

The reform of India's port administration system has been a contentious issue for years. Labor federations representing dockworkers at Indian major, or public, ports have revived their call for a nationwide indefinite strike from Aug. 18 after months-long negotiations with government authorities broke down amid differences over issues tied to port...

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Damco breaks even, takes cyber hit

Wed, 16 Aug 2017

Damco breaks even, takes cyber hit

Ocean volumes were down but air cargo traffic was up at Damco. Damco broke even in the second quarter compared with a year-earlier profit of $10 million as Maersk Group’s freight forwarding and supply management unit was impacted by thinner ocean margins, a cyber attack, and increased product investments. The Netherlands-based company...

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Rickmers Maritime closes on ship sale

Wed, 16 Aug 2017

Rickmers Maritime closes on ship sale

The saga of Rickmers Maritime has come to an end. Rickmers Maritime, the bankrupt charter ship owner, raised an extra $4 million as it closed on the sale of its remaining nine container ships. The Singapore-based company is selling the classic Panamax vessels to New York Stock Exchange-listed Navios Partners for $59...

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APMT earnings struggle despite volume growth

Wed, 16 Aug 2017

APMT earnings struggle despite volume growth

APM Terminals has had to lower rates at some facilities to win business. APM Terminals (APMT) reported an underlying result of $98 million for the second quarter, a drop of 10 percent year over year, despite a 4.3 percent rise in weighted throughput at its global terminal operations. Impairments of $250 million...

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Maersk Line expects $1B 2017 profit gain despite cyber attack

Wed, 16 Aug 2017

Maersk Line expects $1B 2017 profit gain despite cyber attack

Maersk Line delivered a profit of $338 million for the second quarter. Maersk Line has warned that the financial impact of the late-June cyber attack on Maersk Line could reach $300 million, but such is the strength of the market that the carrier has maintained its expectations of a $1 billion...

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MacroPoint deal accelerates drive for freight visibilty

Tue, 15 Aug 2017

MacroPoint deal accelerates drive for freight visibilty

The ability to provide shipment-level visibility like MacroPoint has become essential for transportation companies. The drive toward greater shipment-level supply-chain visibility accelerated Tuesday when Descartes, a global logistics and trade software firm, acquired MacroPoint, a company taking asset tracking to a more “micro” level. MacroPoint, which says it already tracks more...

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South Brazilian ports reopen after harsh weather passes

Tue, 15 Aug 2017

South Brazilian ports reopen after harsh weather passes

Itajai and several other south Brazilian ports are again open for business. Brazilian chicken exporters are cheering after regaining access to all four ports in the southern state of Santa Catarina after strong waves of up 4 meters (13 feet) and winds clocking at more than 70 kilometers per hour (43.5...

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For niche carriers, larger players deliver better reliability

Tue, 15 Aug 2017

For niche carriers, larger players deliver better reliability

Niche carriers continue to stand out in a rapidly consolidating industry. Shippers willing to pay a premium for reliability face a wide-ranging array of performance, with smaller niche carriers generally performing worse than their larger counterparts, according to maritime analyst SeaIntel. Niche carriers either greatly overperform or dramatically underperform the top 16...

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