Freight rates on the Asia-North Europe trade lane came roaring back this week, almost doubling the previous week’s spot rate as carriers slashed capacity on the route and levied general rate increases.
Congestion at the ports of Los Angeles and Long Beach could result in the realization of a long-time goal at the Port of Oakland: becoming the first U.S. West Coast call for inbound cargo from Asia.
The Federal Maritime Commission has allowed Consolidated Chassis Management, the ocean carrier-owned operator of regional chassis pools, to license its pool management software and provide management services to third-party pools.
C.H. Robinson Worldwide, a U.S.
NOL Group today reported a third-quarter net loss of $23 million but managed to reduce its core earnings before taxes by 31 percent through cost management and efficiency that have delivered $290 million in savings so far this year.
Growing international trade and rising container volumes and revenue during the third quarter was reflected in the financial results of China’s top two carriers — China Shipping Container Lines (CSCL) and China Cosco.
Port congestion has gotten so bad in Los Angeles-Long Beach that harbor truckers are imposing congestion surcharges of $50 to as much as $100 an hour, and retailers and other beneficial cargo owners are paying the extra charges if the alternative is that they will not get their containers that day.
Shippers’ hunger to move more loads from the highway to the rails is growing as they see more signs of tightening truck capacity, and resulting higher rates, C.H. Robinson said yesterday.
In an era when most companies seem intent on doing more with less, Old Dominion Freight Line is doing more with more. The fifth-largest U.S. less-than-truckload carrier hired 868 employees in the third quarter alone to keep pace with its rapidly expanding business.
ANA Holdings’ international cargo revenue surged more than 20 percent year-over-year in the first half of fiscal 2014, contributing to a big jump in the largest Japanese airline group’s net profit in the April-September period.
BNSF Railway told intermodal customers this week that it’s better prepared for the coming winter than it was last year, with more personnel ready and expanded storage capacity at Chicago area facilities.
Ten more CMA CGM ships are scheduled for modifications to their bows that will help the company save nearly 6 percent on fuel, the French carrier said.
Industrial vacancy rates in the U.S. have dipped to 7.1 percent, and could sink even lower in the fourth quarter, JLL Research says.