Journal of Commerce

Cosco, ANL to Operate Joint Sino Australia Service

JOC Staff — Fri, 17 May 2013 20:04:32 +0000

Starting June 9, Cosco and ANL will jointly operate Sino Australia Service with six vessel deployments, including five vessels from Cosco and one from ANL. The new loop will enhance Cosco’s existing service network in the Japan, South Korea, China, Hong Kong, Taiwan and Australia trade. The SAS port rotation is Ningbo,...

Precision Bearings Maker SFK to Expand in Charleston

JOC Staff — Fri, 17 May 2013 19:55:24 +0000

SFK Group will expand its existing operations in Charleston County, S.C., representing an investment of $3 million. “It’s the SKF philosophy to try to have production close to its customers, and we have the sufficient volumes today to make these investments, with the prospects for good growth in the future,” said...

APL to Implement Rate Hikes in South America Trade

JOC Staff — Fri, 17 May 2013 19:45:19 +0000

APL will boost rates for dry and refrigerated cargo in its trade from Asia, Australia, East Africa, the Middle East and West Asia to Chile, Colombia, Ecuador and Peru, starting June 1. The hike will be $500 per 40-foot reefer and dry container. Effective June 15, the container line will also increase...

MSC Eyes Asia-Europe Rate HIke

JOC Staff — Fri, 17 May 2013 19:34:06 +0000

Mediterranean Shipping Co. will increase rates on three of its trade routes, effective June 1. The increase will be $100 per dry container on the following routes From North Europe and the Baltic Sea and Scandinavia to Asia, including Japan. From the west Mediterranean and Adriatic to Asia, including Japan. From the east Mediterranean...

Cosco Set to Boost Asia-South America Rates

JOC Staff — Fri, 17 May 2013 19:22:38 +0000

Cosco Container Lines will hike rates for all shipments, including refrigerated cargo, in its trade from the Far East to South America’s east coast, starting June 14. The increase will be $500 per 20-foot container and $1,000 per 40-foot and 40-foot high-cube container, the carrier said....

Hapag-Lloyd Plans Asia-Mideast Rate Hike

JOC Staff — Fri, 17 May 2013 19:19:33 +0000

Hapag-Lloyd plans to boost rates for all cargo and container types on its trade from East Asia, excluding Japan, to the Persian Gulf, effective June 1. The hike will be $300 per 20-foot-equivalent unit. The German carrier also will implement a congestion surcharge, starting June 1, for Tema, Ghana....

Amber Road Lands Kahala Posts Group Contract

JOC Staff — Fri, 17 May 2013 19:02:09 +0000

Amber Road, a New Jersey-based platform that automates and streamlines global trade, has been selected by the Kahala Posts Group, an alliance of 10 postal administrations around the world, to increase their competitiveness in the international delivery market. KPG member organizations include the Australian Postal Corp., China Post Group, Correos y...

Shippers, Transport Providers Urged to Crack Down on Bribery

Mark Szakonyi — Fri, 17 May 2013 18:16:12 +0000

Federal bribery investigator Charles Connolly doesn’t have to look far from his Virginia office for a cautionary tale on why greasing hands is bad for business — and one’s freedom. Nathan Dunn, a former Coast Guard petty officer, was sentenced to more than seven years in prison earlier this month in...

Buggy Shipment Rejected by Baltimore Customs

JOC Staff — Fri, 17 May 2013 17:39:28 +0000

U.S. Customs and Border Protection agriculture specialists in Baltimore discovered a Horvathiolus superbus seed bug in a shipment of Italian ceramic tiles. A U.S. Department of Agriculture entomologist confirmed that this interception was a first regional discovery of the species.Agriculture specialists with Baltimore U.S. Customs and Border Protection have intercepted...

SCFI: Asia-Europe Rates Fall Despite Mid-May GRIs

JOC Staff — Fri, 17 May 2013 17:29:26 +0000

The Shanghai Containerized Freight Index saw further rate erosion in European lanes, pulling the overall SCFI index below the $1,000 per 20-foot container mark for the first time since February 2012, to $990.78. Proposed May 15 general rate increases of between $500 and $600 per TEU by Hapag-Lloyd, Cosco and UASC...

SCFI: Trans-Pacific Rates Inch Up After Five-Week Slump

JOC Staff — Fri, 17 May 2013 17:24:41 +0000

Shanghai Containerized Freight Index spot rates for U.S.-bound trade lanes slightly increased in the week of May 17, following five weeks of declines. “The US trades unexpectedly jumped this week albeit very minimally. Unfortunately for carriers despite this, signals still remain bearish, especially with the recent reports from the National Retail Federation suggesting...

Fraudulent JOC Article Circulated at NY-NJ Terminals

JOC Staff — Fri, 17 May 2013 17:19:14 +0000

A fraudulent article purporting to have been published by The Journal of Commerce was being circulated at Global Terminal and New York Container Terminal in the Port of New York and New Jersey on Friday. The article falsely quotes Jim Devine, president and CEO of Global Container Terminals, the parent of...

NJ Legislators to Vote on Employer-Driver Bill

JOC Staff — Fri, 17 May 2013 16:55:51 +0000

A bill to create a presumption that port and parcel delivery drivers are employees and not contractors and allow allegedly misclassified drivers to sue for damages is up for a vote Monday in the New Jersey General Assembly. Business groups including the New Jersey Motor Truck Association are fighting the legislation,...

Canada Invests in Technology for Atlantic Gateway

JOC Staff — Fri, 17 May 2013 16:49:51 +0000

The government of Canada is investing in the Atlantic Gateway to improve the supply chain efficiency and competitiveness of transportation in New Brunswick, according to Keith Ashfield, Canada’s minister of fisheries and oceans, minister for the Atlantic Gateway and regional minister for New Brunswick, on behalf of Denis Lebel, minister of...

Transnet Concludes Two-Year Wage Deal With Unions

JOC Staff — Fri, 17 May 2013 16:04:15 +0000

South Africa’s Transnet has concluded a two-year wage agreement this week covering all of its employees in the bargaining unit, represented by the SATAWU and UTATU-SARHWU unions. The settlement includes an 8.5 percent across-the-board increase in basic pensionable pay for this financial year and a 9 percent increase for next year....

Mullen Group Acquires Jay's Moving & Storage

JOC Staff — Fri, 17 May 2013 15:52:56 +0000

Mullen Group has signed an agreement to acquire Jay’s Moving & Storage, a private, less-than-truckload transportation corporation owned by Dennis Doehl, based in Regina, Saskatchewan. The transaction is expected to close on June 1, 2013, subject to the completion of conditions typical for a transaction of this nature. Jay’s operates 11 full-service...

Euroseas Reduces Loss Despite Weaker Revenue

JOC Staff — Fri, 17 May 2013 15:46:10 +0000

Euroseas today reported a net loss of $4.6 million in the first quarter of 2013, improving from a net loss of $9.0 million in the first quarter of 2012. Quarterly revenue for the Greek vessel operator and cargo transportation provider was $10.9 million, dropping 21.7 percent compared with $13.9 million in...

MSC Belgium Introduces More Secure Container Release System

JOC Staff — Fri, 17 May 2013 15:40:21 +0000

MSC Belgium has introduced a new container release system that allows customers in the Port of Antwerp to collect their containers quickly in a secure environment. The container release system offered by the Mediterranean Shipping Co. subsidiary enables users to log into an independent, secured portal Web site. The logging-in process...

FedEx Freight Canada Opens Center in British Columbia

JOC Staff — Fri, 17 May 2013 15:14:56 +0000

FedEx Freight Canada’s new service center for the Vancouver area.FedEx Freight Canada, a subsidiary of FedEx, has held an opening ceremony for its new service center for the Vancouver, British Columbia, area. Representing a mult-million dollar investment, the facility, located in Surrey, British Columbia, will connect Western Canada’s less-than-truckload industry and...

Fesco in Fresh $75 Million Bond Sale

JOC Staff — Fri, 17 May 2013 14:59:39 +0000

Fesco, the operator of Russia’s largest ocean carrier, has successfully sold $75 million of corporate bonds, just weeks after it closed on a $800 million bond sale. The privately held company sold the bonds in two tranches: one $50 million issue with an 8 percent coupon due 2018 and one $25...