France sovereign fund mulls shipping firm investment

AJOT | October 27, 2010 | Liner Shipping

France's sovereign wealth fund is considering an investment in indebted French shipping company CMA CGM alongside Turkish conglomerate Yildirim, a spokesman for the fund said.

Marseille-based container shipping line CMA CGM, which began talks Read More »

China COSCO swings to black Q3 on shipping rebound

AJOT | October 27, 2010 | Liner Shipping

China COSCO Holdings, Asia's largest shipping firm, reversed year ago losses to post a quarterly profit, as global trade regained momentum and the firm lifted container shipping rates.

Container shipping has entered its low season in the four Read More »

Maersk Line awarded Navy contract for energy conservation project

AJOT | October 27, 2010 | Liner Shipping

Maersk Line, Limited (MLL) has been awarded a contract by the U.S. Naval Surface Warfare Center, Carderock Division (NSWCCD), to assess and apply Advanced Waste Heat Recovery (AWHR) technology to Military Sealift Command (MSC) ships. The contract involves Read More »

Maersk sees Africa trade outpacing mature markets

AJOT | October 27, 2010 | Liner Shipping

The world's biggest container shipping company, Maersk Line, expects volume on African routes to grow faster than shipping in mature markets, though underperform other emerging markets such as Brazil and China. Read More »

Braemar Shipping sees new tonnage curbing freight rates

AJOT | October 26, 2010 | Breakbulk & Projects

Braemar Shipping Services posted a 3 percent rise in first-half pretax profit and forecast similar results for the rest of the year, saying supply of new tonnage would soften freight rates and vessel values.

The British firm, which provides b Read More »

Silvasti in Finland delivers bridge project

AJOT | October 26, 2010 | Breakbulk & Projects

Silvasti Ltd, Member to the CEE in Finland, transported 5 massive steel structures from Kalajoki, FIN to Kasn's, FIN. These bridge blocks, biggest so far in Finland, were to be used for new 470 meters long bridge at L'v'. Silvasti's scope included loading Read More »

Port Commission considers $700,000 for wharf and rubber-tired gantry crane parts and repair

AJOT | October 26, 2010 | Ports & Terminals

The Port Commission of the Port of Houston Authority will consider $700,000 for wharf and rubber-tired gantry (RTG) crane parts and repair and $300,000 to increase Storage Area Network serving Bayport and Barbours Cut container terminals. Read More »

Mundra Port Q2 net up as cargo, container biz grow

AJOT | October 26, 2010 | Ports & Terminals

Mundra Port and Special Economic Zone reported a more-than-21 percent rise in July-Sept net profit as its cargo and container businesses grew, but shares fell as the firm handled lower-than-expected cargo volumes in the quarter.

The firm head Read More »

Brazil coffee exports slowed as port chokes up

AJOT | October 26, 2010 | Ports & Terminals

Coffee exports from world top grower Brazil are facing delays as the container terminals at the country's largest port clog up, exporters said, slowing deliveries to a market already jittery over tight supplies.

Brazil's coffee exporter assoc Read More »

DP World sees better H2 on strong container volumes

AJOT | October 26, 2010 | Ports & Terminals

Dubai government-controlled port operator DP World said the second half would be better than the first, boosted by strong container operations in the third quarter.

Container volumes in the third-quarter climbed 8 percent, on a consolidated b Read More »

China, Brazil eye coal rail, ports in Colombia

AJOT | October 26, 2010 | Ports & Terminals

Colombian President Juan Manuel Santos said that China and Brazil were eyeing investments in the Andean nation's coal infrastructure to gain more access to the material.

Colombia, the world's No. 5 coal exporter, has seen a five-fold increase Read More »

US proposes first fuel standards for trucks

AJOT | October 26, 2010 | Intermodal

The Obama administration proposed the first ever fuel efficiency and emissions standards for big tractor trailors and other commercial trucks that mainly run on diesel fuel.

The joint Transportation Department and Environmental Protection Age Read More »

Garner Transportation selects VeriWise(TM) Track & Trace to manage fleet of dry vans

AJOT | October 26, 2010 | Intermodal

Asset Intelligence, a leading provider of supply chain asset tracking solutions and a subsidiary of I.D. Systems, Inc. announced that its VeriWise(TM) Track & Trace system has been purchased by Garner Transportation Group, a leading truckload carrier in t Read More »

Kansas City Southern profit tops estimates

AJOT | October 26, 2010 | Intermodal

U.S. railroad Kansas City Southern reported a better-than-expected quarterly profit as freight volumes increased, sending its shares up nearly 5 percent.

The profit beat came despite a curb on revenue due to track damage caused by Hurricane A Read More »

Hawaiian coffee wins prize in EU anti-piracy push

AJOT | October 26, 2010 | International Trade

A gourmet coffee from the island of Hawaii won an European prize for top quality foods on Saturday as part of Europe's efforts to bolster the global use of prestigious place names like Champagne, Parma or Roquefort. Read More »

China to examine, may appeal WTO ruling on U.S. duties case

AJOT | October 26, 2010 | International Trade

China will study and may appeal the recent World Trade Organization ruling that rejected Chinese claims in in a dispute with the United States on extra duties on Chinese goods, China's Ministry of Commerce said.

"The Chinese side will careful Read More »

Japan, India agree on tighter ties amid China risk

AJOT | October 26, 2010 | International Trade

Japan and India pledged closer strategic ties between Asia's second and third biggest economies in talks on Monday, as Tokyo struggles to offset the risk of its growing dependence on giant rival China.

Trade and investment flows with India ha Read More »

G20 has to show compromise FX pact packs meaning

AJOT | October 26, 2010 | International Trade

Excited talk of currency wars has given way to an uneasy truce, but what has so far been a phoney war could yet break out into outright hostilities.

For the statement thrashed out among finance ministers of the Group of 20 leading economies i Read More »

GE lands $750 million Indian gas turbine order

AJOT | October 26, 2010 | International Trade

General Electric Co said it won a $750 million contract to supply gas-fired electric turbines to India's Reliance Power Ltd .

The turbines will be part of a 2,400-megawatt expansion of an existing power plant in the Samalkot region of India. Read More »

France says G20 move a step to global forex reform

AJOT | October 26, 2010 | International Trade

Recent moves by the G20 averted a currency war and took a first step toward a reform of the international monetary system which will be examined under France's G20 presidency, Economy Minister Christine Lagarde said.

Lagarde said that under t Read More »