Valuation watchdog demand A LEADING London shipbroker yesterday called for the creation of an independent body to regulate the lucrative ship valuation business.
Fedex plane in Subic Bay crash As planes take off overhead, the wreckage of a Fedex MD-11 cargo plane lies in the waters of Subic Bay north of Manila following an accident late on Sunday which occurred during landing.
Warburg says shipping stocks set to climb ALMOST a decade of underperformance by shipping stocks may have come to an end as the dramatic rationalisation and consolidation of the industry begins to have an impact.
UPS in surge at third quarter to $577m net UNITED Parcel Service - which plans a $3bn initial public offering next year - reported a 28.5% surge in net incomes for the third quarter to $577m.
SNCM still threatened with strike SEAFARERS employed by French Mediterranean ferry operator Societe Nationale Corse-Mediterranee are maintaining a threat to take industrial action from next Monday despite a French government decision to authorise the state-owned company to order a new car ferry.
Gaul DNA tests results out before year-end RESULTS of DNA testing on bodies which may prove to be those of crew of the fishing vessel Gaul should be available before the end of the year a team of forensic experts says, writes Sandra Speares.
TSA to lift Asia-US rate again SHIPPERS moving goods from Asia to the US face further substantial rate increases next year.
Javier Solano The former Nato secretary-general Javier Solano, the cohesive force at the heart of the bombing campaign against Yugoslavia, yesterday moved across Brussels to become the first High Representative for the 15-nation European Union foreign and security policy. Pictured during a news conference with European Commission president Romano Prodi, he faces major challenges helping the EU embark on its biggest expansion and develop its own defence and security identity. He will work alongside Mr Prodi and external relations commissioner Chris Patten.
Air cargo is at the center of a debate to liberalize regulations that advocates for deregulation say is hampering the industry. The International Chamber of Commerce has been joined by the Trans-Atlantic Business Dialogue in urging governments to end bilateral regulation. One idea is to allow air freight companies to establish themselves within a country outside their "national state" and to diversify into other related services such as trucking, freight forwarding and express delivery services. It's sure to be on the agenda when the next round of World Trade Organization's talks start next month in Seattle.
For a few frightful days the federal government was without effective weapons to fight egregious motor carrier safety violations. Mexican-border, roadside and compliance inspections continued to be conducted but no fines could be imposed or bad-apple operators closed down. As Congress moved to solve this problem, created by a provision in a DOT spending bill, legislation to set up a new motor carrier administration also was advancing.
It's a great time to be in logistics. Analysts and leading logistics providers are predicting a 15 percent surge in demand for global logistics services over the next three years. Outsourcing and consolidation are two leading factors in the growth of third-party logistics providers, according to research by Datamonitor, a U.K.-based consulting firm. With 40 percent of the world's trade conducted by 500 behemoth companies, they outsource only 8 percent of their logistics needs. That is expected to rise to 40 percent in five years, Datamonitor predicted.
Dr. T. Peter Ruane, president of the American Road & Transportation Builders Association, is warning of "spotty" increases in state funding to go along with the 40 percent increase in federal dollars available for road and mass transit funding. Because the $216 billion Transportation Equity Act for the 21st Century so greatly increased the federal share of transportation construction funding, states may need to increase their diesel and gasoline taxes in order to make up their share of the necessary funding. Ruane also warned of "radical" environmentalists who seek to delay major transportation projects through litigation and other means.
It was a week of management shuffling. Ted Weise, FedEx's chief executive officer, announced his planned retirement after 28 years with the company and two years at its helm. When Weise steps down on Jan. 31, David J. Bronczek, now chief operating officer, will assume the top spot. Robert Arovas replaced Roger Payton, as CEO of GeoLogistics. Arovas, hired to engineer a turnaround at the struggling company, joined GeoLogistics in June as its chief operating officer. He had been chief financial officer at Fritz Cos.
There's a shortage of U.S.-flag ships that is making it tougher for shippers of project cargo to compete in international markets. These operators want U.S. cargo preference laws changed to make it easier for them to use foreign-flag ships. One transport manager says using U.S.-flag ships means higher costs and that the problem is getting worse.
A month-long study by the Federal Railroad Administration concluded that four major railroads are ready for 2000. Burlington Northern Santa Fe Railway, Union Pacific Railroad, Norfolk Southern and CSX all scored in the lowest-risk category in terms of Y2K preparations. The FRA acknowledged, however, that the effort could be diminished if shippers were not just as prepared. Areas for improvement included making sure that compliance testing between the railroads and their customers and vendors is completed as soon as possible, and that the railroads have contingency plans in place early in the fourth quarter.
Supply-chain software company i2 Technologies has unveiled TradeMatrix.com, a "super portal" that it hopes will ensure collaboration and teamwork among companies. One i2 official called electronic marketplaces "the single greatest opportunity" to come along in 10 years. The purpose of the portal is to get multiple marketplaces to work together, officials said.
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