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 »

AirBridgeCargo Airlines launches its first schedule route to North America

AJOT | May 02, 2011 | Air Cargo

AirBridgeCargo Airlines (ABC), Russia's largest scheduled cargo airline, has launched services to its first destination in North America with three flights a week to Chicago, becoming the first all-cargo airline with regular flights from the USA to Russia Read More »

More Hapag-Lloyd options for TUI AG this time

AJOT | May 02, 2011 | Liner Shipping

Germany's TUI AG , the owner of Europe's largest travel firm TUI Travel , is seeking to exit its stake in container shipping group Hapag-Lloyd to focus on tourism activities.

With IPO markets volatile and its last attempt at selling off Hapag-Lloyd in Read More »

Shippers’ Voice calls for debate 
on container freight derivatives

AJOT | May 02, 2011 | Liner Shipping

Are container freight derivatives the solution to the continuing problem of excessive freight rates volatility or are they a casino, 'as reliable as rolling a dice'?

Shippers' Voice is encouraging shippers, freight forwarders, carriers and others to e Read More »

NOL carries 12% more cargo in 4 weeks

AJOT | May 02, 2011 | Liner Shipping

Neptune Orient Lines (NOL), the world's seventh largest container shipping firm, it carried 12 percent more cargo in the four weeks to April 8 from a year ago, helped by higher traffic on intra-Asia and Asia-Europe routes.

NOL carried 229,700 forty-fo Read More »

Horizon Lines reaches agreement with CSX on reduced vessel charter payments

AJOT | May 02, 2011 | Liner Shipping

Horizon Lines, Inc. announced that it has finalized an agreement with CSX Corporation to reduce charter payments on three vessels leased from CSX.

Under the agreement, charter hire expense has been reduced by $3 million annually, retroactive to Januar Read More »

North Carolina port receives wind turbine shipment

AJOT | April 28, 2011 | Ports & Terminals

North Carolina's Port of Morehead City recently received its second shipment of wind turbines. The wind turbines were discharged from the M/V PAC Alkaid to three trucks for transport.

The Port of Morehead City’s location, its ability to provide custom Read More »

Cargotec, Konecranes show strong Q1 orders

AJOT | April 28, 2011 | Ports & Terminals

Finnish engineering firms, led by Cargotec, reported strong orders for the first quarter which boosted their shares as business activity picked up following the global economic slowdown.

Finnish cargo handling equipment maker Cargotec reported a bigge Read More »

Containerized cargo upswing continues at Port Everglades

AJOT | April 28, 2011 | Ports & Terminals

A positive sign that international trade to South Florida continues to improve, Port Everglades officials are reporting that containerized cargo for the first six months of the fiscal year ended March 31, 2011 is up 12.9 percent over the same period last Read More »

Telvent to implement global maritime management platform for the Port of Barcelona

AJOT | April 28, 2011 | Ports & Terminals

Telvent, the leading real-time IT solutions and information provider for a sustainable world, announced today that it has been selected by the Barcelona Port Authority (BPA) to carry out the implementation of a global maritime management platform for the Read More »

Governor appoints Rusovich to Board of Commissioners of Port of New Orleans

AJOT | April 28, 2011 | Ports & Terminals

Governor Bobby Jindal has appointed Gregory R. Rusovich to the Board of Commissioners of the Port of New Orleans.

Rusovich will serve a five-year term, succeeding Capt. A.J. Gibbs, one of four Orleans Parish members on the regional Board, which govern Read More »

Grand Alliance inaugural arrives from Vietnam

AJOT | April 28, 2011 | Ports & Terminals

The “NYK Lodestar” recently docked at the HHLA Container-Terminal Altenwerder (CTA). Her cargo included containers shipped directly from Vietnam, to be unloaded in Hamburg. The “NYK Lodestar” was the first vessel of the Grand Alliance consortium of shippi Read More »

Myanmar, China agree cross-border rail project

AJOT | April 28, 2011 | Intermodal

Myanmar and China have agreed to build a rail link connecting Southwest China with the Indian Ocean, officials and local media said.

The railroad will be built in five stages over the next three years and will stretch for total of 1,215 kilometres (75 Read More »

Norfolk Southern profit jumps

AJOT | April 28, 2011 | Intermodal

Norfolk Southern Corp reported a quarterly profit that beat Wall Street estimates as shipments of goods from coal to autos picked up, even as higher fuel prices raised costs.

Fuel costs and truck capacity shortages have driven more traffic to railroad Read More »

TransForce to buy DHL Express Canada’s domestic business

AJOT | April 28, 2011 | Intermodal

TransForce Inc , a mid-tier Canadian trucker, said it will buy the assets of DHL Express Canada's domestic business, to boost its presence in package and courier services.

The deal is expected to add more than C$275 million to TransForce's annual reve Read More »