Port of New Orleans receives new container gantry cranes

AJOT | May 02, 2011 | Ports & Terminals

The Port of New Orleans received two new container gantry cranes which will be installed at the Napoleon Avenue Container Terminal.

The cranes completed their 53-day, 15,700-mile journey from South Korea just before noon aboard the M/V Tai An Kou. Kor Read More »

As pirate attacks grow, shipowners take arms

AJOT | May 02, 2011 | Ports & Terminals

Upstairs in a public house on the English south coast, 18 men are preparing to take on the pirates of the Indian Ocean.

Around antique polished wooden tables scattered with laminated charts, handouts and smartphones, they sit in attentive silence as t Read More »

Somali pirates seize Singaporean tanker off the coast of Kenya

AJOT | May 02, 2011 | Ports & Terminals

Somali pirates hijacked a Singapore-owned product tanker about 180 miles off the coast of Kenya, said port officials and the EU's anti-piracy taskforce.

The 21,000-ton vessel MV Gemini, operated by Singapore-based Glory Ship Management, was seized whi Read More »

ICTSI Manila opens new building

AJOT | May 02, 2011 | Ports & Terminals

International Container Terminal Services, Inc. (ICTSI) recently inaugurated a two-storey building housing the offices and workshops of the crane maintenance and anchorage operations of the Manila International Container Terminal (MICT).

“The new off Read More »

ICTSI unit raises $200 mlllion via perpetual bond issue

AJOT | May 02, 2011 | Ports & Terminals

The Philippines' International Container Terminal Services Inc (ICTSI) said its Royal Capital BV unit raised $200 million in a sale of subordinated perpetual securities, which an issue manager said was Asia's first such hybrid offer.

The offer, which Read More »

China to expand Yangtze shipping by 2015

AJOT | May 02, 2011 | Ports & Terminals

Bulk freighters will be able to avoid congestion around Shanghai and sail up China's Yangtze River as far as Nanjing under a $2.7 billion plan to deepen the navigation channel by 2015, Xinhua News Agency reported.

The river would be navigable for ship Read More »

Big E Transportation implements Descartes Mobile Resource Management Solution

AJOT | May 02, 2011 | Intermodal

Descartes Systems Group announced that Big E Transportation, a wholly-owned subsidiary of Estes Express Lines, implemented Descartes' Route Planner On-demand and MobileLink solution to plan, optimize and dispatch routes across its entire home delivery ope Read More »

YRC restructuring plan approved

AJOT | May 02, 2011 | Intermodal

YRC Worldwide Inc said lenders had agreed to its restructuring plan.

The Overland Park, Kansas-based company said in a news release that more than 95 percent of its senior secured lenders have approved the plan, which would leave existing shareholders Read More »

CN’s Scheduled Potash Service drives new supply chain efficiencies for key customers

AJOT | May 02, 2011 | Intermodal

CN said its Scheduled Potash Service has increased supply chain efficiencies for producers in Western Canada and provided them quicker access to markets.

CN's Scheduled Potash Service is focused on an end-to-end management of the supply chain in colla Read More »

Canada’s Red River flooding to crest this week

AJOT | May 02, 2011 | Intermodal

A weekend storm that brought snow, rain and strong winds to the already flooded Red River Valley created large waves but did not inflict major damage on flood defenses in the Canadian province of Manitoba.

The Red River is expected to peak in the prov Read More »

South Korea April exports soar, builders get support

AJOT | May 02, 2011 | International Trade

South Korean exports rose more than expected to a record amount in April but imports far missed market expectations on a persistent slump in domestic demand that has emerged as a risk to Asia's fourth-largest economy.

Overseas sales by the world's sev Read More »

Steel imports increase in March on strength of NAFTA and semis arrivals

AJOT | May 02, 2011 | International Trade

Imports increased by 32.5 percent in March compared to depressed levels in February and 19.1 percent compared to March 2010 according to preliminary government data. 'Imports increased in March in response to improved market conditions. Our NAFTA partne Read More »

Brazil trade surplus widens despite strong real

AJOT | May 02, 2011 | International Trade

Brazil's trade surplus in April widened for the third consecutive month, the trade ministry said, as exports grew at a faster pace than imports despite the strong local currency.

Brazil posted a trade surplus of $1.86 billion last month, up from $1.55 Read More »

US group urges focus on China state-owned companies

AJOT | May 02, 2011 | International Trade

The United States should focus less on China's currency practices and more on the threat to U.S companies posed by Beijing's support for state-owned enterprises, a U.S. business group said.

China has used regulatory and other barriers to promote "dome Read More »

Canned Black Forest torte Germany’s newest export

AJOT | May 02, 2011 | International Trade

A bakery deep in Germany's Black Forest has found an unlikely hit canning the region's famous Black Forest cherry torte cake and shipping it to fans as far away as Azerbaijan and Brazil.

The idea first came to baker Johannes Ruf after his sister livin Read More »

China’s Wen says to speed up transport links with SE Asia

AJOT | May 02, 2011 | International Trade

China will speed up the development of transport connections with Southeast Asia, building roads, telecommunication and power links as it seeks to boost trade, Premier Wen Jiabao said.

Wen, speaking in Jakarta during a two-day visit to Indonesia, said Read More »

Emirates to spend $10 blllion a year to expand fleet

AJOT | May 02, 2011 | Air Cargo

Emirates, the Arab world's largest airline, will spend about $10 billion a year to fund its fleet expansion over three years but is not under pressure to tap the bond market, a senior official said.

The Dubai government-owned carrier, which expects to Read More »

Atlas Air profit hurt by maintenance, fuel cost

AJOT | May 02, 2011 | Air Cargo

Cargo carrier Atlas Air Worldwide Holdings Inc said quarterly profit fell as maintenance expense rose and it paid more for aircraft fuel.

Net income came to $10.5 million, or 40 cents a diluted share, in the first quarter, down 69 percent from $33.8 m Read More »

Fuel prices hit Korean Air Q1 profit, says sees cargo boost

AJOT | May 02, 2011 | Air Cargo

Korean Air Lines Co Ltd, the world's top freight carrier among commercial airlines, reported a 41 percent drop in quarterly operating profit, hit by higher fuel costs but said it expected cargo demand to improve following the march 11 earthquake in Japan. Read More »

TNT’s mail decline accelerates ahead of split

AJOT | May 02, 2011 | Air Cargo

TNT reported a worse-than-expected performance in its mail unit, adding to the woes in its global express division, in what are set to be its last earnings before it splits the units into two companies.

Europe's second-largest mail and delivery group Read More »