CSX CEO sees no new rail mergers, buyouts

AJOT | October 14, 2010 | Intermodal

The head of CSX Corp said he does not expect any new mergers or buyouts in the North American railroad sector, saying the prices involved -- and the regulatory obstacles that need to be cleared -- are just too high.

In an interview with Reute Read More »

CN signs VMA with Sauk Village, Ill.

AJOT | October 14, 2010 | Intermodal

CN announced it has reached a voluntary mitigation agreement (VMA) with the Village of Sauk Village, Ill., located approximately 30 miles south of Chicago, addressing the municipality's environmental and safety concerns with CN's acquisition of the Elgin, Read More »

CSX profit tops street view

AJOT | October 14, 2010 | Intermodal

CSX Corp reported a stronger-than-expected quarterly profit, citing rising freight volumes in nearly all its markets.

The railroad, one of the largest in the United States, reported a third-quarter profit of $414 million, or $1.08 a share, up Read More »

US, China need work together on currency

AJOT | October 14, 2010 | International Trade

A top U.S. senator said on Wednesday he pressed China to allow its currency to rise more quickly in value, but added both countries needed to work together on that and other concerns to strengthen ties.

"A stronger relationship between the Un Read More »

Imports from China widen U.S. trade gap in August

AJOT | October 14, 2010 | International Trade

Record imports from China helped widened the U.S. trade gap more than expected in August, suggesting the two countries were stuck in old patterns of trade despite pledges to put global growth on a more sustainable path.

The monthly trade gap Read More »

US senators assail China’s ‘abusive’ poultry duties

AJOT | October 14, 2010 | International Trade

Two senior Republican senators urged the Obama administration to ask China to withdraw duties on U.S. poultry they said were part of a larger pattern of unfair trade practices by Beijing. Read More »

Wal-Mart sees sales improving in 4th quarter

AJOT | October 14, 2010 | International Trade

Wal-Mart Stores Inc should see improvement in sales at its U.S. discount stores in the fourth quarter as the company returns items to shelves and focuses anew on low prices, the company's chief executive said.
"I expect to see positive sales result Read More »

Gap eyes international business to boost sales

AJOT | October 14, 2010 | International Trade

Gap Inc is projecting that online and international sales will account for more than one-quarter of total net sales by its fiscal year 2013 as it expands its business overseas.

Gap, which operates a namesake chain of clothing stores as well a Read More »

American Airlines announces daily B767-300 flight to Budapest

AJOT | October 14, 2010 | Air Cargo

The launch next April by American Airlines of a daily flight from New York JFK to Budapest was announced on October 7th in Budapest, and London at the same time. The first American Boeing 767-323ER aircraft is planned to land at Budapest Airport on 4 Ap Read More »

Cargo plane crashes near Kabul, seven dead

AJOT | October 14, 2010 | Air Cargo

A civilian cargo transport plane crashed into mountains near the Afghan capital Kabul, killing at least seven people on board, a local civil aviation official said.

It was not immediately clear how many people were aboard the plane. An Afghan Read More »

CMA CGM upgrades its service between North Europe, US South Atlantic, Mexico and the US Gulf

AJOT | October 14, 2010 | Liner Shipping

CMA CGM is pleased to announce the launch of its New Victory Bridge service linking North Europe to US South Atlantic, Mexico and the US Gulf, effective October 17th, 2010.

Launched in partnership with CSAV, this service previously operated in coopera Read More »

Toys’R'Us names APL its Ocean Carrier of the Year

AJOT | October 14, 2010 | Liner Shipping

Toys'R'Us, Inc., the world's leading dedicated toy and juvenile products retailer, has named APL its 2010 Ocean Carrier of the Year. A container shipping leader, APL was honored at concurrent ceremonies in Hong Kong and Union, New Jersey. Read More »

H.R. 6167 would harm US international trade

AJOT | October 14, 2010 | Liner Shipping

The World Shipping Council (WSC) has concluded its initial analysis of H.R. 6167, the 'Shipping Act of 2010,' which was recently introduced in the U.S. Congress. That bill proposes to substantially change the way that the international liner shipping indu Read More »

Dry bulk shipping to stay challenging

AJOT | October 12, 2010 | Breakbulk & Projects

Conditions in the dry bulk shipping sector will remain challenging due to growing fleet supply and uncertainty over demand prospects, a senior official with shipbroker Clarksons said. Dry bulk ship owners ramped up orders of vessels before the economic do Read More »

Containing momentum:  another strong month for containers at the Port of Baltimore

AJOT | October 12, 2010 | Ports & Terminals

Containers continue their strong rebound at the Port of Baltimore’s public marine terminals. In August, 57,510 TEU (Twenty Foot Equivalent Unit) containers made their way across Baltimore’s docks. That ranks second in the Port’s history, right behind July Read More »

US cargo imports to increase in October

AJOT | October 12, 2010 | Ports & Terminals

Import retail shipping traffic at major U.S. ports shot up 23 percent in August, compared with year ago levels, and should continue to rise in the coming months due to improvements in the U.S. economy, according to a report by the National Retail Federati Read More »

Aurubis says port concession haze holds up EUR 25 million project

AJOT | October 12, 2010 | Ports & Terminals

The fuzzy situation with the concession of Bulgaria's ports of Bourgas and Varna is delaying a EUR 25 million investment project, said Peter Willbrandt, board member of Europe's largest copper producer Aurubis.

Speaking to Dnevnik at the dedi Read More »

Maersk warns over cost pressure for ports

AJOT | October 12, 2010 | Ports & Terminals

Container port operators in mature economies face "very strong cost competition" from faster-growing emerging markets, the Financial Times quoted the head of APM Terminals as saying. Read More »

Konecranes acquires Indian WMI Cranes LTD.

AJOT | October 12, 2010 | Ports & Terminals

Konecranes has entered into an agreement to acquire the Indian crane company WMI Cranes Ltd. (“WMI”). The acquisition marks an important step in strengthening Konecranes' position in the growing Indian crane market.

The company, which is own Read More »

Shipping fleet set to expand, but freight rates drag

AJOT | October 12, 2010 | Ports & Terminals

India's shipping industry is setting out on a fleet expansion drive as the country's port capacity is set to increase, but still-soft freight rates will put a lid on recovery after an extended slowdown.

Cargoes at Indian ports are expected to Read More »