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THE US Department of Homeland Security (DHS) has been slammed for continuing to push back the deadline to scan 100 per cent of US-bound sea freight, arriving from foreign ports, by a further two years to 2014. On the third anniversary of the Implementing Recommendations of the 9/11 Commission Act of 2007 (Public Law 110-53), the DHS plan was slated for ...
THE Toll Group is calling for improved dialogue between customers, freight forwarders and shipping lines to break the 'damaging' cycle of rate fluctuations during peak and off-peak seasons. "All of us across the industry have lessons to learn from the events of the last 18 months when the shipping industry was pushed to the brink during the crisis," s...
Orient Overseas (International) Limited made a return to profitability today, turning a US$230 million loss in the first half last year into a net profit of $1.3 billion this time around. A large portion of the revenue was realised from the sale of its mainland property development division earlier this year, but strong demand and solid freight rates on...
London: London's marine insurance market has created a clause ensuring underwriters do not breach sanctions due in part to western measures against Iran, a senior Lloyd's Market Association (LMA) official said. Marine underwriters in London have been looking at ways to deal with the growing raft of Iran-related measures as well a U.S. executive order on a...
Taipei: Taiwan's Formosa Petrochemical Corp ill defer the arrival of one Very Large Crude Carrier (VLCC) to September from August, and another to the fourth quarter following a blast which forced it to shut its massive refinery, its spokesman said on Tuesday. Formosa imports an average of seven to eight VLCCs a month and 90 percent of the crude are fro...
London: The Baltic Exchange's main sea freight index fell for a second day on Wednesday and the outlook was seen as fragile due to slow cargo business. Analysts said any gains in the coming weeks were likely to be modest until demand, which is largely driven by the iron ore market, picks up in the fourth quarter. The index, which gauges the cost of...
US SHIPPERS have praised the passage in the Senate of the US Manufacturing Enhancement Act of 2010 that will provide relief to American companies importing products not otherwise available in the country Also called the Miscellaneous Tariff Bill (HR 4380), the legislation now awaits presidential ratification before it becomes law. Rebates are available ...
SHIPPING CORPORATION OF INDIA (SCI) plans to charter three container ships for periods ranging from three to five years, in an effort to launch new services amid the rebound in trade volumes. This comes as the company was back in the black during the April-June quarter for the first time in about six quarters, and made a profit in its container business...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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