Genco files for chapter 11 Company seeks approval of its "pre-packaged" plan
Experience matters How are we to help the young British officers of the future?
Work together or die together, Wickmann warns intra-Asia box lines MCC Transport boss says falling rates will drive carriers bankrupt unless they join forces
Genco files for bankruptcy protection In a move that was expected, Peter Georgiopoulos-chaired Genco has filed for Chapter 11 bankruptcy protection to facilitate a pre-packaged restructuring plan
South Korean shipbuilders' profits dip South Korean shipbuilders have reported weak earnings in 1Q14, weighed down by the low-priced orders hampering profits
Russian and Chinese subs reported on standby for MH370 search The search for the missing Malaysia Airlines flight MH370 is expected to be completed by the end of this week, with yet no sightings of wreckage on or below the ocean
Rescue divers access capsized ferry Sixty-four people have now been confirmed dead in the South Korean ferry disaster as more corpses were recovered from the capsized Sewol
PCTC catches fire in Japan A pure car and truck carrier caught fire in the Pacific Ocean off Japan's Wakayama Prefecture on 19 April
Security team averts pirate attacks Two piracy attacks in the Bab el-Mandeb and Gulf of Aden were thwarted by armed security on board
Three bulkers sold en bloc for demolition Three laid-up bulkers belonging to the Deiulemar Navigazione have been sold en bloc for demolition amid an overheating ship recycling market in the Indian sub-continent
China arrests MOL's ship for unpaid damages Shanghai Maritime Court detained the vessel Baosteel Emotion, owned by Mitsui OSK Lines, on 19 April in order to enforce a judgment requiring the owner to pay delayed rent and losses to a Chinese firm, the court announced yesterday
Terminal Consolidation Seen as Crucial for Seattle-Tacoma Location of the two ports on the Puget SoundThe ports of Seattle and Tacoma offer advantages to shipping lines that many ports would love to have - naturally deep water, more than enough container-handling space and excellent on and near-dock intermodal rail infrastructure. But in order to take full advantage,...
P3 Carriers Extend Trans-Atlantic Rates at 2013 Contract Levels, For Now Wine imports constitute the largest U.S. import commodity by volume from the Mediterranean and southern Europe.Container ships are running full on the westbound trans-Atlantic as shippers scramble to complete their annual contract negotiations with carriers at a time when the new P3 Network and other expanding alliances have not yet...
UP's New Mexico Hub Expands Shippers' Cross-Border Options Union Pacific Railroad locomotives in Santa Teresa, N.M.SANTA TERESA, N.M. - There's not much out here other than roads, warehouses and cacti - and now a sprawling Union Pacific Railway intermodal terminal and fueling station. Secluded as it is, what happens at this $400 million facility in a desert framed...
Shift of Freight From Air to Ocean Slows 3PL Revenue Growth Norbert Dentressangle rose to 24th from 29th after acquiring Fiege's logistics operations in Italy, Spain and Portugal.The world's largest third-party logistics providers showed minuscule growth in 2013 for the second consecutive year, as sluggish trade growth affected forwarding volume and other 3PL segments saw only modest increases. Revenue from the Top...
Corruption Clouds Ukraine's Business Potential While agribusiness investments are a thriving sector for multinational expansion, Ukraine's more mature sectors - energy, mining and metallurgy - remain highly inefficient and subject to corrupt practices, according to Anders Aslund, senior fellow at the Peterson Institute for International Economics. "These (industries) have largely been closed to companies from the...
Ukraine's Agribusiness Prospects Blossom A field of sunflowers in Ukraine.The Russian invasion of the Ukrainian province of Crimea is shining a spotlight on the economic vulnerability of its smaller neighbor. Ukraine depends on imports - much of them from Russia - to meet about three-fourths of its annual oil and gas needs, and all...
Chicken Soup for the Shipper Soul In her 2008 book, "The Celebrity Experience: Insider Secrets to Delivering Red Carpet Customer Service," author and motivational speaker Donna Cutting delivers some simple advice to companies of all types when dealing with those who buy their services: "Give them their chicken soup." By "chicken soup," Cutting is referring to the...
Cushman & Wakefield Completes 703,873-Square-Foot Industrial Building Aquisition ROMEOVILLE, ILL., April 16, 2014 - Commercial real estate services firm Cushman & Wakefield, working with Paine/Wetzel, has completed the acquisition of 1300 Naperville Drive, a 703,973-square-foot industrial building in Romeoville. Buyer Magid Glove & Safety will consolidate two existing locations and relocate its primary manufacturing operations and headquarters to...
Kenco Adopts SmartDrive Technology for Fleet-Wide Roll-out SAN DIEGO, Calif. April 14, 2014-SmartDrive Systems, a leader in driving performance solutions that reduce collisions and improve fuel efficiency, today announced that Kenco, a leading provider of integrated logistics solutions, real estate services, and material handling equipment, has selected SmartDrive's event recording system for roll-out across its entire nationwide fleet...
Trincon Group Announces A Special Webinar to Examine New Initiatives to Address The Driver Shortage COLUMBUS, Ohio-TRINCON GROUP, a leading national transportation industry advisory and technology firm, has announced that on May 8, 2014 it will be holding a special webinar to address the driver shortage and what individual trucking firms can do to respond. According to Albert Einstein the definition of insanity is, "Doing the...
Port of Redwood City Reports Increased Business Total tonnage for all commodities moving across Port of Redwood City docks during the three quarters of Fiscal Year 2013-14 that ended March 31, 2014, was 1,236,661 metric tons (MT), an increase of 18 percent over the prior FY. Imported sand and aggregates from British Columbia accounted for 930,934 MT, more...
New Website Launched for Foreign Trade Zone No. 79, Tampa Bay/I-4 Corridor Foreign Trade Zone (FTZ) No. 79, which encompasses the Tampa Bay/I-4 Corridor region of Central Florida, has launched a new website at www.tampaftz.com. The website outlines the benefits of the FTZ No. 79 Program and presents examples to demonstrate how companies involved with international trade can leverage the Program, along...
LA Port Has Big March as Container Volumes Rebound Container volumes in Los Angeles-Long Beach surged in March as factories in Asia returned to full production after the Chinese New Year lull in February, with double-digit growth in LA offsetting sagging traffic at its neighbor. Loaded import containers at Los Angeles and Long Beach combined, which comprise the United States'...
DGX-Dependable Global Express Expands Worldwide Operations with New India Office LONG BEACH, CALIF., AND MUMBAI, INDIA - April 16, 2014 - DGX-Dependable Global Express (DGX), a leader in international shipping and freight specializing in global ocean and air freight, proudly announces the opening of DGX Logistics India Pvt. Ltd, in the heart of Mumbai. Conveniently centered in the economic capital of India, the new...
Basta Holdings Generates Nearly $1 Million in Monthly Revenue for March 2014 FORT LAUDERDALE, Fla., April 21, 2014 (GLOBE NEWSWIRE) -- BastaHoldings Corp. (OTCBB:BSTA), an aviation services and logisticsmanagement company, today announced that it booked $959,981 in revenuesduring the month of March 2014.Although there is no guarantee that Basta Holdings will generate thisincome in the future, its revenue for March 2014 is...
Genco enters Chapter 11 Genco Shipping & Trading has filed Chapter 11 papers to become the second company founded by Peter Georgiopoulos to enter the US bankruptcy courts.
Besiktas scores five Turkey's Besiktas Shipyard has secured orders for five tugs from two different owners.
Pan Ocean culls another Korean shipowner Pan Ocean has piled on the misery at compatriot yard STX Dalian and pulled the plug on an order for a semi-submersible heavy-lift carrier newbuilding due for delivery this year.
Cosco wins $100m deals Cosco Corp (Singapore) has clinched orders worth $100m for six offshore support vessel newbuildings.
Heron scraps trio Newcomer Heron Ventures appears to have scrapped a quarter of the dozen bulkers recently acquired at auction from creditors of troubled Italian shipowner Deiulemar Shipping.
SCF back at Arctech Sovcomflot (SCF) has returned to Finland's Arctech Helsinki Shipyard for another icebreaking platform supply vessel (PSV) to support the Sakhalin 2 offshore oil project.
CGG lifts bond issue CGG has upsized its recent bond issue and has successfully priced an offering of EUR 400m ($550m) of senior notes.
LA volumes surge The Port of Los Angeles in the US has reported a major jump in container volumes for the month of March 2014.
UACC details MISC deal United Arab Chemical Carriers (UACC) has confirmed the acquisition of four modern chemical tankers from MISC.
MOL VLOC arrested Chinese authorities have arrested a Mitsui OSK Line (MOL) VLOC in Shanghai in a dispute over wartime reparations.
FMCSA finds insurance requirements 'inadequate' The Federal Motor Carrier Safety Administration found Friday that the current insurance requirements for truckers are "inadequate to meet the costs of some crashes," according to a report prepared for Congress.
CP details fertilizer plans for STB In response to a request last week by the Surface Transportation Board, Canadian Pacific has said it will not add any capacity in order to increase the flow of fertilizer to farmers in the Midwestern states.
Foxx ends bus trip with look to future
U.S. to investigate Mexico sugar-dumping claims
Arizona DOT warns of Mexican trucker protest The Arizona DOT put out a warning last week that Mexican truckers may act on the threat of a blockade along the border crossings with Arizona if conditions for the drivers do not improve.
Chinese shippers maintain opposition to P3
ModusLink wins Republic Wireless reverse logistics business
U.S. ITC to investigate environmental products trade The U.S. International Trade Commission said it has launched two investigations concerning trade in environmental goods, one on the probable effect on U.S. industries of removing duties and another to provide trade data for such goods.
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