Trans-Pacific rate cuts loom Peter Leach/The JOURNAL of COMMERCE ONLINE
Journal of commerce (Newark, N.J.),
03/2009
Newspaper Article
Widdows, chairman and CEO of Neptune Orient Lines, warned. Trans-Pacific Maritime Conference in Los Angeles, Widdows said shippers are If carriers accede to the shippers' requests at the
APL, Hamburg Sud, Hapag-Lloyd and Hyundai Merchant Marine, which already work together in the joint Asia Australia Services vessel-sharing agreement, are teaming up with Evergreen Marine in a new ...vessel-sharing agreement on the trade between Northeast Asia and Australia. Hamburg Sud will provide three vessels, Hyundai Merchant Marine and APL two vessels each, and Hapag-Lloyd and Evergreen will supply one vessel each.
PSA grabs top spot among operators Peter Leach/The JOURNAL of COMMERCE ONLINE
Journal of commerce (Newark, N.J.),
10/2008
Newspaper Article
Drewry's latest "Annual Review of Global Container Terminal Operators 2008," lists the top port operators by equity TEU throughput, which gives PSA the top spot, in part by virtue of its 20 percent ...stake in Hutchison Drewry says that while a significant shortage of global container terminal capacity relative to demand is still a possibility within the next few years, two factors have combined to create some breathing space in certain regions: the high level of investment in container terminal infrastructure and equipment that is being made by global terminal operators; and the slowing of demand growth in locations the U.S. and Europe. "Over the past 18 months we have seen a large number of new container terminal development projects confirmed, and this will have a positive impact on the utilization of terminal capacity over the next five to six years," said Neil Davidson, Drewry's director of ports. "At the same time, demand growth has eased in certain key locations, such as the U.S. and Europe."
The majority of space in the new warehouse has been committed to a ship line that had been calling at Norfolk International Terminals, said Joe Dorto, VITs general manager and chief executive. Our ...plan was to consolidate container operations at Portsmouth and Norfolk, and it took some time because things had to happen elsewhere first. Finishing the warehouse in Newport News was the most important part of this equation because it gives the project cargo coming in on Wallenius Wilhelmsens vessels safe, dry storage, which is what they had been looking for. WWL already has a presence in Newport News, so moving the port operations there allows us to reduce costs by consolidating space, communication systems, equipment and office supplies, said Gary Jones, head of operations for Wallenius Wilhelmsen Logistics' Americas region. Beyond the strong financials, Newport News is a dedicated ro-ro and breakbulk terminal, which means better service for us and our customers.
-- Westports in Kelang, Malaysia, 17 percent.-- Kwai Tsing terminals in Hong Kong, 5 percent.-- Jakarta port container terminals in Indonesia, 14 percent.-- Europe Container Terminals in Rotterdam, 5 ...percent.-- Panama ports container terminal, 12 percent. The majority of the operations reported growth in earnings before interest and taxes. The major contributors and their respective growth rates were ECT in Rotterdam, 39 percent, and Hutchison Ports (UK), 34 percent, partially offset by 7 percent lower EBIT from Kwai Tsing terminals in Hong Kong.
From a financial standpoint, South Carolinas public port system is very healthy, said David J. Posek, the SCSPAs chairman. These strong numbers allow us to cover the costs of current operations along ...with the new container terminal in North Charleston. That is good news for both our customers and the people of South Carolina. Posek said the SCSPAs current fiscal position will enable it to cover the remaining state matching funds for the recently completed harbor-deepening project, as well as any shortfall in funding for the Port Access Road serving the new Navy Base Terminal. Posek said the SCSPA will cover the balance of the costs for the deepening, along with any additional funds that might be necessary to complete a 1.5-mile road connecting I-26 to the 280-acre container terminal under construction. State and federal dollars already allocated to the Port Access Road total more than $182.5 million, plus approximately $7 million in interest.
The GAO report also raises the concern that the U.S. requirement of 100 percent scanning of import containers may substantially reduce the interest of foreign governments and companies in ...participating in the Container Security Initiative and C-TPAT-type initiatives, whether run by the U.S. or a foreign government.CBP currently is focusing on Customs-to-business "mutual recognition" agreements, and has signed such agreements with New Zealand, Canada, and Jordan and is negotiating with the EU, Japan and Singapore.
NOL said any agreement would be subject to, among other steps, due diligence, submission and acceptance of NOLs final bid, regulatory approvals and NOL shareholders approvals. If successful, NOL ...would integrate its APL container shipping business with Hapag-Lloyd, which would create the worlds third-largest container carrier by capacity, following Maersk Line and Mediterranean Shipping Co.
The deregulation of the U.S. trucking industry by theMotor CarrierAct of 1980continues to impact how the 7,000 truckers who deliver and pick up containers daily at the ports of New York and New ...Jersey earn their livelihood. It has resulted in lower trucker earnings, driver shortages, higher truck emissions and mounting inefficiencies, says a new study by David Bensman, professor of labor studies and employment relations at the Rutgers School of Management and Labor Relations, and Yael Bromberg, a student at Rutgers School of Law-Newark.
NYK to cut size of car carrier fleet Peter T. Leach/The JOURNAL of COMMERCE ONLINE
Journal of commerce (Newark, N.J.),
02/2009
Newspaper Article
NYK, the worlds largest car carrier, predicts car exports will slump by more than a third this quarter as the worst U.S. car market in 28 years forces Japanese manufacturers to reduce output. The ...countrys auto exports tumbled 34 percent in December, their biggest drop since records began in 1972. NYK Yusen last month slashed its net income forecast by 48 percent to 73 billion yen ($791 million) for the year ending March 31 amid slower demand for transport commodities, containers and cars. The shipping line is predicting a loss of $391 million this quarter.
