Journal of Commerce

Genesis Energy to Improve Rail Capacity in Mississippi, Wyoming

JOC Staff — Tue, 21 May 2013 16:43:42 +0000

Genesis Energy will expand its rail terminal in Natchez, Miss., and construct a new unit train loading facility in Wyoming in the Powder River Basin of the Niobrara shale play. At the Natchez terminal, designed to handle straight and minimally diluted bitumen delivered by Canadian National Railway, Genesis is finalizing the...

US Containerized Imports Drop 7 Percent

JOC Staff — Tue, 21 May 2013 16:35:13 +0000

U.S. containerized imports through March 2013 Full-size image U.S. containerized imports experienced a 7 percent year-over-year drop in March 2013, according to advance figures from PIERS, a JOC sister company. Total U.S. containerized imports fell to 1.26 million 20-foot-equivalent units, the first month with a volume below 1.3 million TEUs since February...

US, Tunisia Launch Small Business Initiative

JOC Staff — Tue, 21 May 2013 16:13:47 +0000

The U.S. and Tunisia have launched an initiative to support the development of small and medium-sized enterprises, boost trade and promote economic growth. Developed under the U.S.-Tunisia Trade and Investment Framework Agreement, which is led by the Office of the U.S. Trade Representative, the initiative, funded and led by the U.S....

Finnair Cargo Expands Air Freight Capacity for Brussels, Tokyo

JOC Staff — Tue, 21 May 2013 15:59:29 +0000

Finnair Cargo will add more air freight capacity to and from Brussels, starting June 6. In addition to the MD-11 freighter service between Helsinki and Brussels on Saturdays and Sundays, Finnair’s passenger flight to and from Brussels on Thursday mornings will now be flown with an Airbus A340 aircraft. “This enables us...

EU Provides Funding for Anti-Piracy Efforts in Africa

JOC Staff — Tue, 21 May 2013 15:53:58 +0000

The European Union has allocated €37 million (about US$47.7 million) for its Regional Maritime Security program to strengthen the fight against piracy in several Eastern and Southern African countries. The new program will help to develop the legal and judicial system of countries in the region, so that they are better...

Navios Maritime Holdings Reports Net Loss of $10.2 Million

JOC Staff — Tue, 21 May 2013 15:39:01 +0000

Navios Maritime Holdings today reported a net loss of $10.2 million in the first quarter of 2013, plummeting from a net profit of $9.5 million in the first quarter of 2012. Quarterly revenue for the Greek shipping and logistics company was $133.8 million, compared with $152.0 million in the same period...

CEVA's Revenue, EBITDA Fell in First Quarter

JOC Staff — Tue, 21 May 2013 15:01:48 +0000

CEVA Group reported its adjusted earnings before interest, taxes, depreciation and amortization in the first quarter of 2013 were €31 million (about US$39.8 million), plummeting 53 percent from $84.8 million in the first quarter of 2012. However, excluding the 2012 impact from divested businesses, adjusted EBITDA for the first quarter of 2012...

ABF Freight System to Raise Rates 5.9 Percent

JOC Staff — Tue, 21 May 2013 14:39:58 +0000

Less-than-truckload carrier ABF Freight System will raise general rates and charges 5.9 percent on average May 28. The general rate increase applies to non-contract work. Rate increases will vary depending on lane and shipment type, but will average 5.9 percent, ABF said Monday. ABF reported an operating loss of $22.5 million in...

Teamsters Local Leaders OK ABF Freight Contract

JOC Staff — Tue, 21 May 2013 14:33:44 +0000

The leaders of about 160 Teamster locals approved a multiyear contract with ABF Freight System that will cut wages 7 percent in the first year of the contract. The tentative contract — announced by the union and the less-than-truckload carrier May 3 — also cuts paid time off by one week,...

Israeli Government Pledges to End Ports' Monopoly

JOC Staff — Tue, 21 May 2013 13:57:35 +0000

The Israeli government is planning to issue a tender to build a privately run seaport in the coming months, pledging to end the monopolies of the two main ports of Ashdod and Haifa, Haaretz reports. The state-owned ports are subject to work stoppages and slowdowns because of the “enormous strength” of...

US Diesel Prices Tick Up

JOC Staff — Tue, 21 May 2013 13:42:12 +0000

U.S. diesel prices through May 20, 2013 Full-size image U.S. diesel prices saw slight increases in the week ending May 20, the second week of rising prices after a 10-week slump, according to the U.S. Energy Information Administration. The average price is currently at $3.89 per gallon, inching up 0.6 percent or 2...

Royal Mail's Profits More Than Double

JOC Staff — Tue, 21 May 2013 12:55:20 +0000

Royal Mail’s profit more than doubled, driven by surging parcel deliveries, in a major boost to the forthcoming privatization of the UK’s 363-year-old state-owned postal company. Operating profit, adjusted for restructuring costs, jumped to £403 million ($613 million) in the financial year to March 31, from £152 million ($231 million) in...

Carriers Maintain Asia-Med Capacity Despite Euro Crisis

JOC Staff — Tue, 21 May 2013 12:39:37 +0000

Ocean carriers are paying a heavy price for failing to rein in capacity on the Asia-Mediterranean route despite the deepening economic crisis across southern Europe, according to shipping consultant Drewry. Traffic is stalling, freight rates have tumbled more than 40 percent since the beginning of the year and ships are sailing...

NJ Assembly Passes Employee-Driver Bill

JOC Staff — Tue, 21 May 2013 12:20:50 +0000

The New Jersey General Assembly approved a bill to create a presumption that drayage and parcel delivery drivers are employees instead of independent contractors, but the legislation appears unlikely to become law. Even if the bill is passed by the state senate, it faces a likely veto from Gov. Chris Christie....

Rickmers Maritime Rights Issue Oversubscribed

JOC Staff — Tue, 21 May 2013 12:13:05 +0000

Singapore’s Rickmers Maritime Trust said its S$101.7 million ($80.9 million) rights issue was 1.5 times oversubscribed. The net proceeds from the issue, announced by the containership trust in March, will be used to repay bank loans, including a top up facility granted in 2008. The rights issue also fulfils a condition for...

DB Schenker to Manage DAF Trucks' Logistics Operation in Brazil

JOC Staff — Tue, 21 May 2013 11:27:59 +0000

DAF Trucks has selected DB Schenker in Brazil as its logistics service provider. The Brazilian arm of the global logistics provider will be responsible for export consolidation, supply chain visibility and import logistics in support of DAF Brazil’s new truck assembly plant in Ponta Grossa, in the state of Paraná. DB...

NCSP Group’s Container Throughput Improves 2.7 Percent

JOC Staff — Tue, 21 May 2013 03:31:26 +0000

Novorossiysk Commercial Sea Port Group reported consolidated cargo turnover from January to April 2013 was 49.5 million metric tons, compared with 55.3 million metric tons in the same period last year. “The group’s cargo handling volumes continue to follow the trends seen in the first quarter of the year,” said Yury...

Zim to Boost Asia-South America Rates in Mid-June

JOC Staff — Mon, 20 May 2013 23:37:01 +0000

Zim Integrated Shipping Services will raise rates for all shipments on its trade from Asia to the east coast of South America, starting June 15. The increase will be $500 per 20-foot container and $1,000 per 40-foot container, the carrier said. Containerized exports from Far East Asia to South and Central America...

BDP Chief Expects Manufacturing Exodus From Asia

Mike King, Special Correspondent — Mon, 20 May 2013 21:24:32 +0000

Slow-steaming by shipping lines and the reduction of currency and supply chain risks will spur more original equipment manufacturers to locate new manufacturing sites closer to the U.S. or move existing facilities from Asia, according to Rich Bolte, chairman and CEO of logistics service provider BDP International. “I think in the...

DHL & Pizzas 4 Patriots Enter Guinness Book of World Records With Largest Pizza Delivery in History

PRESS RELEASE — Mon, 20 May 2013 20:58:22 +0000

PLANTATION, Fla., — DHL Express, the world’s leading international express services provider, has been entered in the Guinness Book of World Records for performing the largest pizza delivery in history for Pizzas 4 Patriots, a non-profit organization. Since 2008, DHL Express and Pizzas 4 Patriots have joined forces to bring...