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NOL’s Q3 profit beats forecasts

AJOT | October 24, 2010 | Liner Shipping

Neptune Orient Lines (NOL) , the world's fifth largest container shipping firm, reported better than expected third quarter profit, rebounding from a loss a year ago thanks to a recovery in cargo volumes and rates.

The company, around two-thi Read More »

Horizon Lines reports 3rd-quarter financial results

AJOT | October 24, 2010 | Liner Shipping

Horizon Lines, Inc. reported financial results for its fiscal third quarter ended September 19, 2010.

On a GAAP basis, third-quarter net income was $7.7 million, or $0.25 per diluted share, compared with $8.4 million, or $0.27 per diluted sha Read More »

Maersk Line to idle 10% of Asia-Europe service

AJOT | October 24, 2010 | Liner Shipping

The world's biggest container shipping company, Maersk Line, said it would suspend about 10 percent of its Asia-Europe service to adjust to weaker demand after the peak season.

Maersk Line, a unit of Danish shipping and oil group A.P. Moller- Read More »

DP World wins deal to expand terminal at Egypt port

AJOT | October 14, 2010 | Ports & Terminals

DP World has won a concession to double the size of its container operations at Sokhna Port on Egypt's Red Sea coast, the company said in a statement.

Sokhna, near the southern end of the Suez Canal, is Cairo's main port for cargo from the Fa Read More »

APM Terminals signs Monrovia concession

AJOT | October 14, 2010 | Ports & Terminals

APM Terminals has signed a 25-year concession agreement for the operation of the Port of Monrovia in Liberia, having been named the preferred bidder for the port management and modernization project last March. The now formalized agreement for the port’s Read More »

Congested Asian ports struggle to sate Chinese demand

AJOT | October 14, 2010 | Ports & Terminals

Australia, India and Indonesia are under the gun to expand port capacity so exporters can cash in on China's commodities boom or face losing billions of dollars in business to other markets.

China, already the top iron ore importer and coal u Read More »

Henry named Maritime Person of the Year by the International Propeller Club

AJOT | October 14, 2010 | Ports & Terminals

The International Propeller Club of the United States named James L. Henry the Maritime Person of the Year at its international convention in Tampa, Fla. Henry is Chairman and President of the Transportation Institute, a leading maritime industry associa Read More »

Lanier re-appointed to Port Commission of the Port of Houston Authority

AJOT | October 14, 2010 | Ports & Terminals

The Port of Houston Authority announced that Elyse Lanier has been re-appointed to serve as a member of the Port Commission, its governing body. The vote on October 12 by the Harris County Commissioners Court was unanimous. Commissioner Lanier was initial Read More »

APM Terminals’ FastNet Cranes represent a quantum leap in terminal productivity

AJOT | October 14, 2010 | Ports & Terminals

Addressing the Annual Med Freight Conference in Barcelona, APM Terminals’ Head of Design and Development for New Terminals, Ross Clarke introduced the FastNet crane technology which would enable STS gantry cranes to work adjacent bays of a large container Read More »

Georgia Ports Authority posts best quarter ever

AJOT | October 14, 2010 | Ports & Terminals

Georgia Ports Authority’s (GPA) Executive Director Curtis J. Foltz announced the Port of Savannah experienced 20.1-percent growth in twenty-foot equivalent units (TEUs) for the first three months of FY2011 (July – September 2010), a record for the Authori Read More »

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 »

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