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Today's Cargo News Archives
Summary for October 15 - October 19, 2007:
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Monday, October 15, 2007

Vancouver USA: 2-year 46% cargo jump

The Port of Vancouver USA is on pace to handle more than 5.5mn tonnes of cargo this year, up 21.2% over 2006 and a 46% jump since 2005, said Executive Director Larry Paulson Oct 9 in a report to the Vancouver Port Commission.

 Close to 580 vessel calls are expected this year, up 11.9% over 2006 and up from 502 ships in 2005, said Paulson.

 The Port of Vancouver is the West Coast port of entry for Subaru and last year imported more than 43,000 Subaru automobiles and distributed them to dealers across the Western United States, said the report.

 When the Port of Vancouver started importing wind energy components in 2005, said Paulson, enough components to make up 83 complete wind turbines passed through the port.

 Last year the port handled 127 complete turbines. Through August of this year, the port had handled the components to build 305 complete wind turbines and an additional 120 towers, said Paulson.

 Paulson’s report to the commission also noted that the port’s industrial space is currently 100% leased and has been for some time.

 Port of Vancouver USA
http://www.portvanusa.com/

FRA approves ECP brakes waiver

The first train fully equipped with electronically controlled pneumatic (ECP) brakes began hauling coal in southwestern Pennsylvania Oct 11 under a waiver approved by the Federal Railroad Administration (FRA), announced Administrator Joseph H. Boardman.

 Norfolk Southern Railway (NS) is the first railroad to operate revenue service trains equipped with ECP brakes under the waiver, said Boardman.

 BNSF Railway also received waiver approval and is expected to operate trains with the new, safer brake technology before the end of 2007.

 “These railroads understand using ECP brake technology can bring significant safety and business benefits, and I encourage other railroads to follow their lead,” said Boardman.

 In contrast to conventional air brake systems, which operate sequentially from one rail car to the next, ECP technology applies the brakes uniformly and instantaneously on every rail car in a train, explained Boardman.

 Boardman said that an intermodal container train equipped with ECP brakes originating from a West Coast port could operate all the way to Chicago without stopping, except for refueling and crew changes.

 ECP brakes lead to better train control, shorter stopping distances, and a lower risk of derailments, said Boardman.

 Web site:

 Federal Railroad Administration
http://www.fra.dot.gov/us/home

Search service adds Chinese, Portuguese

OceanSchedules.com, a free online search service for shippers and forwarders, Oct 8 announced a new version of its site that allows registered users to configure the user interface to operate in Chinese and Portuguese.

“Adding language versions is part of our commitment to making the site user friendly in local markets,” said Harry Sangree, managing director.

A Web-based portal, OceanSchedules.com data come directly from the carriers themselves, providing users with access to the “most comprehensive listing of global schedules, which are hosted for free via an EDI connection,” said the company.

Each search result includes all voyage details (such as departure and arrival dates, vessel name, voyage number, etc.) and a carrier-configured link to the carrier Web site, said the company.

For registered INTTRA users, OceanSchedules.com “is integrated with INTTRA’s e-commerce services, enabling shippers and freight forwarders to seamlessly integrate carrier schedules into the INTTRA booking process,” said the company.

Sangree noted that prominent carriers around the world have recently started listing shipping schedules on OceanSchedules.com, including Hanjin Shipping, Compañía Sud Americana de Vapores (CSAV), Crowley, and Wan Hai Lines.

Web site:

OceanSchedules.com
http://www.oceanschedules.com

<<<•>>>

Tuesday, October 16, 2007

EC raids freight forwarders

A NUMBER of freight forwarders including Switzerland's Kuehne & Nagel International AG and Panalpina Welttransport Holding AG were raided Oct 11 as part of a joint US-European probe into alleged price-fixing.

 The European Commission said it carried out unannounced inspections at the offices of several international freight forwarding companies, without naming them.

 The EC said it has "reason to believe that the companies concerned may have violated EC Treaty rules that outlaw restrictive business practices."

 The investigation reportedly centers on whether the freight forwarders fixed prices for fuel and other surcharges.

 The raids were sparked by information received from an unidentified whistleblower, who tipped off European, US and Swiss authorities to alleged cartel behavior, said Patrik Ducrey, deputy director of Switzerland's competition authority.

 Kuehne & Nagel and Panalpina separately acknowledged that authorities raided their offices in Switzerland and in the US. Kuehne & Nagel's offices in the UK also were searched.

 German railway operator Deutsche Bahn said the offices of its Zurich-based Schenker transport unit were searched in South Africa, Switzerland and the US.

 DHL, an international shipping unit of Deutsche Post AG, also said European authorities had contacted the company, but didn't provide further detail.

US railroads have lower 3Q profits

REDUCED demand and high fuel costs, along with concerns about the larger economy, are likely to weigh heavily on the railroads as they begin to report third-quarter results this week.

 CSX Corp. starts the railroad's earnings reports on Oct 16, followed by Union Pacific Corp. on Oct 18. Bear Stearns analyst Edward Wolfe said total carload volumes slipped 2.4% during the quarter, and have fallen 2.7% this year.

 Across individual segments, intermodal shipments slipped as the third quarter closed, the analyst said, noting that intermodal is the largest segment for the railroads.

 Automobile and metal shipments were also weak, Wolfe said, while paper and lumber, dragged down by a slumping housing market, remained weak throughout the quarter.

 The last few weeks of the quarter showed modest improvement in coal and grain carload volumes and continued strength in chemical shipments, Wolfe noted.

 Shipments of coal, the second largest rail segment, rose 4.2% in the last week of the quarter, while grain carloads rose 3.2% for the week. Chemical carloads rose 9.1%, driven by strong demand for ethanol and fertilizer.

Buffett trims railway holdings in 2Q

WARREN BUFFET’S Berkshire Hathaway Inc. on Oct.15 reported that the investor reduced his stake in railway companies Norfolk Southern Corp. and Union Pacific Corp. during 2Q.

 Buffett's holding in UP fell to 7.41mn shares valued at $853.4mn as of Jun 30, from 10.5mn shares on Mar 31, according to a Securities and Exchange Commission filing.

 Buffet’s Norfolk Southern stake fell to 3.76mn shares valued at $197.51mn on Jun 30, from 6.36mn shares on Mar 31, the SEC filing said.

 Buffett requested confidential treatment for his holdings in the two freight-railroad operators, so they were not included in his 2Q holdings report filed with the SEC in August.

 But his confidential treatment period expired Oct. 15.

<<<•>>>

Wednesday, October 17, 2007

CSX reports 24% net income rise

CSX Corp.'s 3Q net income rose 24% despite shrinking freight volume, reaching $407mn compared with $328mn a year earlier.

 "Our core earning power continues to improve in a more challenging transportation environment," said Michael Ward, chairman, president and CEO.

 Freight volume fell 4% for the quarter, primarily because of decreased demand for building products. Leading the decline were shipments of forest products, down 13%, and food and consumer goods, down 15%.

 The company said lumber and panel shipments were down, hurt by the downturn in residential construction and because less wood was shipped for paper production.

 Revenue per unit, however, rose 8%, led by phosphates and fertilizers where it rose 27% because of "pricing and changes in the traffic mix."

 Fellow shipper Union Pacific Corp. reports its results Oct 18. 

PNYNJ officials consider cross-harbor freight tunnel

The Port Authority of New York and New Jersey, reversing earlier decisions by city officials, has decided to accept $100mn in federal funds for planning better ways to move freight.

 The money was earmarked by Congress more than two years ago for the study and planning of ways to improve the movement of freight to New York City from New Jersey.

 One proposed solution is a rail tunnel under the harbor between Jersey City and Brooklyn, which could cost as much as $7 billion.

 The commissioners of the Port Authority are scheduled to vote Oct 18 to sponsor the project and spend the money to study the costs and potential effects on the environment and economy.

 Stephen Sigmund, a spokesman for the authority, said it makes sense to look at the feasibility of the tunnel and its impacts on quality of life and other issues, and at the same time, take advantage of some significant federal funds that are available.

 The city's Economic Development Corp conducted a preliminary study on the feasibility of a cross-harbor tunnel a few years ago. But city officials abandoned the project after Mayor Michael R. Bloomberg withdrew his support for the idea in 2005.

$4bn for new I-5 bridge

Officials in Oregon and Washington estimate a cost of some $4bn for construction of a new bridge on Interstate 5 that will allow passage of Columbia River barges while carrying up to 12 lanes of traffic and a separate rail or bus line.

 The proposed bridge would replace the six-lane pair of lift bridges whose narrow roadway creates the Portland-Vancouver region's worst bottleneck, where some 135,000 cars and trucks are slowed each day.

 Looking to the future, officials believe the weekday Portland-Vancouver rush hour could total 20 hours a day by 2030 with freight traffic expected to double in the same period of time.

 Local bargemen see considerable growth in the region, especially due to increased demand for grains and grain-based products like ethanol.

 Dennis McVicker, president and CEO of Tidewater Holdings, sees opportunities for each of the company's three businesses - Tidewater Barge Lines, Tidewater Terminal Co. and Sundial Marine, a shipyard in Troutdale, Ore.

 He said the wheat market is strong with huge off-shore demand, which means more grain coming downriver, while the region's increasing demand for petroleum products is growing at 1-2% a year.

<<<•>>>

Thursday, October 18, 2007

Wal-Mart cuts prices

Wal-Mart Stores Inc., aiming to entice holiday shoppers, has cut prices on 15,000 additional items this week, 20% more than last year. The world's largest retailer signaled more price cuts might be on the way.

 The move follows the retailer's rollbacks, or price cuts on in-season products, on popular toys earlier this month. This week's price cuts were applied to food, home, appliances and apparel.

 The firm said it also plans to cut prices on electronics as well as other items.

 Wal-Mart's action comes as a trade group forecast retailers to have their worst holiday season in five years, prompting competitive price cuts to lure shoppers whose budgets are tightened.

 US shoppers are concerned about a slowing economy and may increase their holiday spending at the slowest pace in at least four years, according to a survey from the National Retail Federation.

 Retailers have reported worse-than-expected September same-store sales, hurt by unseasonably warm weather that analysts said may prompt more discounts heading into the holidays.

 Other retailers from Target Corp. will be forced to follow in Wal-Mart's footsteps to cut prices to lower shoppers, investors have said.

Tropical storm Kiko may become hurricane

Mexico’s National Hurricane Center forecasters said Tropical Storm Kiko would likely strengthen to a hurricane by Oct 19, when it was expected to be just off the Pacific Coast port of Manzanillo.

 Mexico issued a tropical storm warning along its Pacific coastline Oct 18 as Tropical Storm Kiko moved toward land. It had maximum sustained winds of 40 mph and was located 150 miles southwest of the resort of Zihuatanejo.

 Kiko was moving north at 3 mph, and was projected to veer sharply early Oct 19 and head northwest, parallel to southwestern Mexico, lashing beaches with rain and high winds.

 The tropical storm warning was issued from Zihuatanejo to Manzanillo.

 The storm had been downgraded to a tropical depression on Oct 16 before regaining tropical storm status on Oct 18.

Japanese, Russians form trans-Siberian freight line

Mitsui & Co and Russian Railways will cooperate in the transportation of freight across Siberia to St Petersburg and Moscow, with rail freight operator Russian Troika also participating.

 Under the agreement, the three firms will work together to transport cargo containers from Japan to the two Russian cities via Russia's Pacific seaboard.

 The service will start once Mitsui & Co signs delivery contracts with Japanese firms. At the moment, Mitsui & Co is finalizing a deal with Toyota Motor Corp. to deliver autoparts to a St Petersberg assembly plant.

 "While this won't be in place in time for the start of production at year-end, Toyota is amenable to gradually shifting away from sea transport beginning next year," said Mitsui Executive Vice President Toshihiro Soejima.

 Transporting freight from Japan to St. Petersburg, which takes 45 days by sea, will be reduced to 18 days, according to Russian Railways Senior Vice President Boris Lapidus.

<<<•>>>

Friday, October 19, 2007

Wal-Mart cuts prices

Wal-Mart Stores Inc., aiming to entice holiday shoppers, has cut prices on 15,000 additional items this week, 20% more than last year. The world's largest retailer signaled more price cuts might be on the way.

 The move follows the retailer's rollbacks, or price cuts on in-season products, on popular toys earlier this month. This week's price cuts were applied to food, home, appliances and apparel.

 The firm said it also plans to cut prices on electronics as well as other items.

 Wal-Mart's action comes as a trade group forecast retailers to have their worst holiday season in five years, prompting competitive price cuts to lure shoppers whose budgets are tightened.

 US shoppers are concerned about a slowing economy and may increase their holiday spending at the slowest pace in at least four years, according to a survey from the National Retail Federation.

 Retailers have reported worse-than-expected September same-store sales, hurt by unseasonably warm weather that analysts said may prompt more discounts heading into the holidays.

 Other retailers from Target Corp. will be forced to follow in Wal-Mart's footsteps to cut prices to lower shoppers, investors have said.

Tropical storm Kiko may become hurricane

Mexico’s National Hurricane Center forecasters said Tropical Storm Kiko would likely strengthen to a hurricane by Oct 19, when it was expected to be just off the Pacific Coast port of Manzanillo.

 Mexico issued a tropical storm warning along its Pacific coastline Oct 18 as Tropical Storm Kiko moved toward land. It had maximum sustained winds of 40 mph and was located 150 miles southwest of the resort of Zihuatanejo.

 Kiko was moving north at 3 mph, and was projected to veer sharply early Oct 19 and head northwest, parallel to southwestern Mexico, lashing beaches with rain and high winds.

 The tropical storm warning was issued from Zihuatanejo to Manzanillo.

 The storm had been downgraded to a tropical depression on Oct 16 before regaining tropical storm status on Oct 18.

Japanese, Russians form trans-Siberian freight line

Mitsui & Co and Russian Railways will cooperate in the transportation of freight across Siberia to St Petersburg and Moscow, with rail freight operator Russian Troika also participating.

 Under the agreement, the three firms will work together to transport cargo containers from Japan to the two Russian cities via Russia's Pacific seaboard.

 The service will start once Mitsui & Co signs delivery contracts with Japanese firms. At the moment, Mitsui & Co is finalizing a deal with Toyota Motor Corp. to deliver autoparts to a St Petersberg assembly plant.

 "While this won't be in place in time for the start of production at year-end, Toyota is amenable to gradually shifting away from sea transport beginning next year," said Mitsui Executive Vice President Toshihiro Soejima.

 Transporting freight from Japan to St. Petersburg, which takes 45 days by sea, will be reduced to 18 days, according to Russian Railways Senior Vice President Boris Lapidus.

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