Monday, December 7, 2009
COSCO raises charges, rates
China’s COSCO Container Lines announced a mix of increased fees, all beginning the first of the year.
The shipping line said its Shanghai export terminal handling charge would increase on all shipments from Shanghai to the U.S. and Canada by approximately (according to the current exchange rate) $68.8 per-TEU, $110$110.49 per-FEU, $110.49 per 40-foot high cube, $139.73 per-45-footer, $76.82 per-refrigerated TEU, $124.39 per-refrigerated FEU, and $124.39 per- refrigerated 40-foot high cube.
In addition, COSCO announced a rate increase of $100 per unit for waste shipments - paper and plastics - from Northwest Europe and the Mediterranean, including Israel, Lebanon, Syria, North Africa and the Black Sea region, to the Far East.
A bunker adjustment factor (BAF) for U.S. West Coast Ports takes effect as well at $278 per TEU, $348 per FEU, $392 per 40-foot high cube and $441 per 45-footer. For U.S. East Coast ports, the bunker surcharge will be $551 per-TEU, $689 per FEU, $775 per 40-foot high cube and $872 per 45-footer, the carrier said.
From the Far East and the Indian subcontinent to Canada, a bunker surcharge will apply to cargo going through Vancouver and Prince Rupert will be $278 per- TEU, $348 per-FEU, $392 per-40-foot high cube and $441 per-45-footer. For cargo through Halifax, the BAF will be $551 per-TEU, $698 per-FEU, 775 per- 40-foot high cube, and $872 per-45-footer, COSCO said.
The Far East and the Indian subcontinent according to COSCO is Bangladesh, Brunei, Cambodia, mainland China, Macau, Taiwan, India, Indonesia, Japan, Korea, Malaysia, Myanmar, Pakistan, Papua, New Guinea; Philippines, Singapore, Sri Lanka, Thailand and Vietnam.
Vietnam freight transport up 4.1 percent in first 11 mos.
Vietnam's freight transportation went up 4.1 percent year-on-year in the first 11 months of this year to 583.4 million tons, said the General Statistics Office on Monday.
In this period, the country's freight transportation by road was 427 million tons, a year-on-year increase of 5.3 percent, said the report.
Vietnam saw a 2.1 percent rise in cargo transportation by river in the first 11 months of this year to 107.8 million tons compared to the same period last year.
The country posted a decline of 2 percent year-on-year to 41.2 million tons in cargo transportation by sea and a decrease of 5.2 percent to 7.4 million tons in transportation of freight by railway from January to November this year.
In the first 11 months of this year, Vietnam's passenger transportation reached 1.81 billion person-times, up 8 percent year-on-year, according to the office.
-Vietnam Business Finance News
For the story source: www.vnbusinessnews.com
DHL offers U.S. investor incentive
German mail and logistics company Deutsche Post DHL AG said it is offering American Depository Receipts starting Monday in a move aimed at broadening its U.S. investor base.
ADRs effectively allow foreign companies to sell shares on the U.S. market. The company, based in Bonn, will also continue to be listed on the German stock exchange.
For the full story: www.businessweek.com
Port of Bahrain opens to tune of $362 mil
Bahrain on Sunday officially inaugurated a new port, which can handle up to handle 1.1 million containers a year built at a cost of 362 million dollars, officials said.
King Hamad launched operations at Port Khalifa bin Salman, five kilometres (three miles) from Bahrain airport, which aims to boost economic activity and foreign investment in the small archipelago state in the Gulf.
The port on Muharraq island has berths where the water is 15 metres (50 feet) deep, meaning it can handle large container ships and cruise liners, Hassan Almajed, director general of Bahrain's ports authority, told AFP.
For the full story: www.google.com
Indian Navy thwarts pirate attack on tanker
An Indian warship patrolling the seas responded to a distress call from the tanker belonging to the Nordic American Tanker Company after it was fired upon by pirates, said P.V.S. Satish, the navy spokesman in New Delhi.
A helicopter immediately took off from the warship and foiled the pirates' attempt, Satish said. Other details were not immediately available.
The Gulf of Aden is one of the world's most important shipping lanes, crossed by 20,000 vessels a year, and a prime target for Somali pirates.
Indian warships have been escorting merchant ships as part of anti-piracy surveillance in the area since last year.
For the story source: www.foxnews.com
Tuesday, December 8, 2009
NOL cargo up, earnings down
The world’s fifth-largest container shipping line has produced the strongest evidence yet of rebounding demand in the sector.
Singapore’s Neptune Orient Lines said on Monday it carried 23 per cent more cargo in the four weeks to November 13 than in the same period last year.
However, the figures from Nol suggest that the industry remains far from a general return to profitability.
APL, Nol’s shipping arm, earned 28 per cent less per container shipped in the four weeks than in the equivalent period last year, when the company was already making losses.
For the full story: www.ft.com/cms
FedEx boosts profit estimate
FedEx Corp. late Monday raised its outlook for second-quarter earnings thanks to increased demand for its international shipping services as well as the company's cost-cutting efforts.
FedEx boosted its profit target to $1.10 a share from its previous estimate of 65 cents to 95 cents a share. The Memphis, Tenn.-based company earned $1.58 a share in the same quarter a year ago.
For the full story: www.marketwatch.com/story
Con-Way to continue expansion throughout 2010
Con-way Truckload Regional, the short-haul subsidiary of the American freight giant Con-way Inc., has announced that it is to expand its regional service with increased operations across ten U.S. states from January next year.
The company states it is to add 300 trucks to its fleet by the end of 2010 and plans significant growth in Missouri, Kansas, Iowa, Nebraska, Wisconsin,
Minnesota, Illinois, Indiana, Ohio and Kentucky.
-Handy Shipping Guide
For the full story: www.handyshippingguide.com/shipping-news
IBM lands AP Moller IT hosting, support contract
IBM today announced that AP Moller-Maersk AS has extended its agreement with IBM for the provision of IT hosting and support services with the signing of a new agreement valid until 2014.
The new contract was signed in November 2009 and extends a 5 year agreement signed in 2007. The value of the contract was not disclosed.
For the full story: www.tradingmarkets.com
Somali pirate booty creates stark division of wealth
The influx of millions of dollars in ransoms has changed life in this coastal Muslim community, driving prices up and creating a schism between the pirate haves and have-nots. As piracy ramps up again with the end of the monsoon season, the lifestyle of the pirates — big houses, fast cars and easy drugs — is decried by both religious leaders and ordinary villagers.
Just last month, pirates were paid a reported $3.3 million to release 36 crew members from a Spanish vessel held hostage for more than six weeks. Pirates stand to make tens of thousands from the payment, money that will pulse through the community in gifts, loans and payments to family, friends and businessmen.
For the full story: abcnews.go.com
Wednesday, December 9, 2009
PepsiCO reaches $900 mil agreement to distribute Dr. Pepper Snapple group products
PepsiCo announced today that it has reached an agreement with Dr Pepper Snapple Group, Inc. (DPS) to manufacture and distribute certain DPS products following completion of PepsiCo's acquisition of its two anchor bottlers, The Pepsi Bottling Group, Inc. (PBG) and PepsiAmericas, Inc. (PAS).
Under the terms of the agreement, DPS will receive an upfront payment of $900 million payable upon closing of the acquisitions. In exchange, PepsiCo said would be entitled to manufacture and distribute Dr Pepper and certain other DPS products in the territories where they are currently distributed by PBG and PAS.
The agreement will have an initial term of 20 years, with automatic 20-year renewals thereafter, PepsiCo said in a statement.
Under the new agreement, PepsiCo said it would distribute: Dr Pepper, Crush and Schweppes brands in the United States; Dr Pepper, Crush, Schweppes, Vernors and Sussex brands in Canada; and Squirt and Canada Dry brands in Mexico.
PepsiCO said it expects to close the proposed transactions by the end of the first quarter of 2010.
Freight services index dipped 1.2 percent in October
The Freight Transportation Services Index (TSI) fell 1.2 percent in October from its September level, declining for the second consecutive month, the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS) reported today.
The Freight TSI declined in 11 of the past 15 months and in six of 10 months in 2009 despite the three consecutive monthly increases that began in June, the BTS said. The TSI had increased 2.8 percent in between May and August.
The October Freight TSI of 94.5 is a 1.0 percent increase from the recent low of 93.5 reached in May, according to the BTS report.
In May, the index was at its lowest level in more than a decade since June 1997. The Freight TSI is down 16.3 percent from its historic peak of 112.9 reached in May 2006, the BTS said.
North Carolina governor creates logistics task force
Tuesday Gov. Bev Perdue created a task force to look at improving North Carolina’s infrastructure and transportation systems.
Perdue said the Logistics Task Force will review roads, railways, airports and ports to find ways to help businesses work more efficiently. Lt. Gov. Walter Dalton will chair the task force. He said the goal is to create jobs.
Perdue made the announcement Tuesday afternoon at Longistics, a global logistics service provider, headquartered in Raleigh.
For the story source: www2.wnct.com
CAT Logistics to open parts distribution center in Ohio
Caterpillar Logistics Services plans to open a new parts distribution center in southwest Ohio.
The center will span more than 1 million square feet. Cost is estimated at more than $50 million. Construction is expected to begin in early 2010 and be completed in 2011.
Caterpillar says the center near Dayton eventually will replace the company's Indianapolis Regional Distribution facility and assume some work currently performed at Caterpillar's parts distribution center in Morton, Ill.
For the full story: www.google.com
Crowley names Tessier vp sales, chartering for petroleum
Crowley Maritime Corporation announced today that Dorine Tessier has been named vice president of sales and chartering for its petroleum transportation group.
The company said Tessier would report to John Douglass, senior vice president and general manager of Crowley's Gulf and Atlantic region. Tessier will relocate from Anchorage to Jacksonville, the company said.
Tessier will be responsible for the planning and direction of the group's sales and chartering initiatives, overseeing development of policies and procedures; coordinating and negotiating customer contracts and developing business relations, specifically in the company's articulated tug barge (ATB) program, Crowley said.