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Samskip named Regional Carrier of the Year Samskip has been declared the winner of the Regional Carrier of the Year by judges of the prestigious Containerisation Awards, 2015. Considered to be the ultimate accolade for service providers involved in unitised transport, this year’s Containerisation Awards were staged at London’s Jumeriah Carlton Tower Hotel, Knightsbridge on Thursday, […]

Tanzania to tax imports to finance rail projects Tanzania has instituted a 1.5 percent levy on all imports to fund rail projects intended to bolster national and international connectivity. The new tax, based on the price, insurance and transportation of imports, will help the country raise $14.2 billion for rail projects. One railway, at a […]

Surplus capacity, weak demand clouds outlook for Asia’s cargo carriers Global economic uncertainty and a slowing China continues to hang over cargo markets, with air and ocean transportation providers struggling to match capacity to demand while having little visibility going into the second half of 2015. With most of the world’s supply chains beginning in […]

Asia-Europe rates shed 80 percent in a year, SCFI data shows HONG KONG — Asia-Europe freight rates are now 82 percent lower than at the same time last year, dropping by 15.6 percent this week to settle at the latest record low of $205 per 20-foot container, according to the latest reading of the Shanghai […]

Pension charge leads to 5 million FedEx quarterly loss An accounting change that cost FedEx $2.2 billion cut deep into the company’s earnings to produce an $895 million loss in the fourth quarter of the company’s fiscal year. Adjusted for that $2.2 billion pre-tax charge, FedEx net profit would have been $753 million, compared with […]

Expanded Suez Canal to open August 6 LONDON – The “new” enlarged Suez Canal that will allow two-way transits for ships will open on schedule on August 6, according to the waterway authority. The digging and dredging of a new 45-mile long parallel channel is due to finish on July 15, eleven months after the […]

Industry split on NVOCC contracting changes More than a dozen non-vessel-operating common carries have endorsed further changes to U.S. Federal Maritime Commission’s rules governing NVOCCs’ contracts with shippers. But ocean carriers urged the commission to avoid changes that favor NVOCCs over vessel operators, and UPS and the National Industrial Transportation League warned against narrowing NVOCCs’ […]

Top forwarders fail mystery online sales test HONG KONG — A test of 20 top freight forwarders’ online services produced a dismal set of results and revealed the distance still to be travelled before logistics companies are ready to offer efficient automated bookings.Online freight booking company Freightos conducted the mystery shopper test, outlined in a […]

Despite LA-LB port issues, SoCal distribution space at a premium Despite its well-publicized port congestion and labor problems this past year, Southern California continues to be a hotbed for industrial real estate development, industry experts told the I.CON Industrial Real Estate Conference sponsored by the Commercial Real Estate Development Association Wednesday in Long Beach. The […]

Despite LA-LB port issues, SoCal distribution space at a premium Despite its well-publicized port congestion and labor problems this past year, Southern California continues to be a hotbed for industrial real estate development, industry experts told the I.CON Industrial Real Estate Conference sponsored by the Commercial Real Estate Development Association Wednesday in Long Beach. The […]