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NORFOLK Southern said fourth quarter net profit fell 32 per cent year on year to US$207 million drawn on a revenue of $2.1 billion, a decline of 16 per cent over all with coal falling 27 per cent, intermodal by 15 per cent and general merchandise by nine per cent. Growth in the last quarter was attributed to incremental volume gains in the second quarter,...
NYK Line follows MSC's decision to hike transatlantic rates both ways to US$200 per TEU and $400 per FEU on all US and Canadian cargo moving to and from northern Europe effective March 1. "This rate restoration initiative is necessary to address the severe economic challenges associated with NYK operating services in the transatlantic trade," said Dan Sh...
HANJIN terminal operator, Hanjin Pacific, is taking over Maersk's APM Terminals' facilities at Piers 76 and 77 in the Port of Kaohsiung, the largest container facility in Taiwan. No financial details of the arrangement were divulged. Hanjin Pacific CEO GS Choi said in a statement that operations will double the handling capacity of existing Hanjin Pac...
SPOT rates on the Asia-Europe container shipping routes are forecast to rise to US$2,000 per TEU in two months time, according to Danske Bank's container rate index. At present, the rates stand at $1,763/TEU, reports International Freighting Weekly. "Carriers have the upper hand - no doubt about that. Many participants in our container index expect rates...
A Cambodian-flagged cargo ship that was reported to have been seized by Somali pirates has actually been held by a local court in northwestern Somalia, an official statement said Saturday, according to Xinhua. A statement from the Berbera Port Authority where the ship had called said the local court in Berbera ordered the detention of MV Layla-S aft...
A giant car carrier, operated by Eukor and owned by Zodiac Maritime Agencies, is reportedly being deployed by Somali pirates as a mother ship on raids out into the Indian Ocean. The ship was nabbed on January 1, some 1,100 km off the Somali coast with a crew predominantly from eastern Europe. The 4,500 unit carrier was en route from Ulsan to Saud...
The South Africa Europe Container Service (SAECS) has confirmed that it will run an additional shipping service to cater for the anticipated season increased in refrigerated exports. The first vessel in the Reefer Express (REX) service will start opertaing the route on 15 February in Cape Town. SAECS says in a statement: “The REX service is an addit...
The South Africa Europe Container Service (SAECS) has confirmed that it will run an additional shipping service to cater for the anticipated season increased in refrigerated exports. The first vessel in the Reefer Express (REX) service will start opertaing the route on 15 February in Cape Town. SAECS says in a statement: “The REX service is an addit...
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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