Colombia losing patience with US on trade

AJOT | February 17, 2011 | International Trade

Colombians have "started losing patience" with U.S. delays over trade deals as China steps up its interest and investments in the Andean nation, Bogota's envoy to Washington said.

"They are ready to throw in the towel," Ambassador Gabriel Silva told R Read More »

US takes disputes to WTO, China trade gap up

AJOT | February 17, 2011 | International Trade

The United States said it had asked the World Trade Organization to rule on two disputes with China -- one on restrictions Beijing has imposed on U.S. specialty steel exports and the other on access to its vast credit and debit card payments market.

T Read More »

Canfor sees long-term market in China

AJOT | February 17, 2011 | International Trade

Canfor Corp sees further growth in lumber sales to China this year with the market now taking about 30 percent of the company's production, its executives said.

Canfor is not abandoning its traditional U.S. customers for China, but the days of being " Read More »

China resource demand drives Kazakh trade surplus

AJOT | February 17, 2011 | International Trade

China spent more than $10 billion on goods from resource-rich Kazakhstan last year to become the most lucrative export market for Central Asia's largest economy, official Kazakh data released showed.

China, the world's second-largest crude oil importe Read More »

Obama wants all three trade pacts passed

AJOT | February 17, 2011 | International Trade

US Treasury Secretary Timothy Geithner gave the Obama administration's clearest statement yet that it wants to work with Congress to approve three long-delayed trade agreements with South Korea, Colombia and Panama this year.

"We'd like to pass all of Read More »

CEO sees doubling of growth in 2011

AJOT | February 17, 2011 | Air Cargo

Looking ahead in the worldwide air cargo market, the chief executive of Airline Network Services expressed confidence that the company's record of growth and expansion established last year will be doubled in 2011.

"Through careful management and hand Read More »

Forward Air Q4 profit beats Street

AJOT | February 17, 2011 | Air Cargo

Air cargo company Forward Air Corp posted a quarterly profit that beat market estimates, helped by strong performance at all its segments, and said improving macroeconomic environment along with company-specific positive trends will continue this year. Read More »

Government slams graft in China airport building boom

AJOT | February 17, 2011 | Air Cargo

China's airport building boom over the past five years has caused a litany of graft and environmental problems, but has managed to boost local economies, the government's spending watchdog said.

Ten airport projects across the country cost taxpayers s Read More »

Atlas Air profit tops expectations

AJOT | February 17, 2011 | Air Cargo

Atlas Air Worldwide Holdings Inc posted a higher-than-expected quarterly profit and forecast 2011 earnings above current Wall Street estimates, sending the cargo carrier's shares up as much as 11.6 percent to a nearly three-year high.

The company has Read More »

OOCL announces re-introduction of the Atlantic Express Service (AES)

AJOT | February 17, 2011 | Liner Shipping

OOCL announced re-introduction of the Atlantic Express Shuttle (AES) with an additional port call to Hamburg.

Revised rotation will be: Hamburg-Antwerp-New York-Hamburg. Read More »

Sea Star Line reaches 10,000 load milestone

AJOT | February 17, 2011 | Liner Shipping

Sea Star Line, LLC, will soon mark one year of its weekly service to Puerto Rico from the Port of Philadelphia's Tioga Marine Terminal. After less than 10 months of operation, Sea Star Line's fleet of three vessels has moved a milestone 10,000 loads throu Read More »

NOL says Q4 net profit $177 mlllion

AJOT | February 17, 2011 | Liner Shipping

Neptune Orient Lines (NOL) , the world's seventh largest container shipping firm, reported on Wednesday better-than-expected fourth-quarter net profit, reversing from a loss the previous year as freight rates and cargo volumes soared. Read More »

Baltic ship screen plans moving too slowly

AJOT | February 13, 2011 | Breakbulk & Projects

The Baltic Exchange's plan for a central trading screen for dry bulk freight derivatives is moving too slowly and concerns are growing that rivals may look to launch their own, freight futures users said. The Baltic Exchange said in May last year it had a Read More »

Dahlman Rose downgrades several dry bulk shippers

AJOT | February 13, 2011 | Breakbulk & Projects

Dahlman Rose downgraded several dry bulk shippers, and said the market has been under intense pressure during the past few months, which is likely to weigh on ship values.

The brokerage cut Eagle Bulk , Excel Maritime , and Freeseas to "hold" from "bu Read More »

Dockwise selects Hyundai as yard for its new

AJOT | February 13, 2011 | Breakbulk & Projects

Following the Board's decision to commission a new build vessel to service the emerging market for ultra-large transports, Dockwise has appointed Hyundai Heavy Industries (HHI) of Korea as its ship building yard. HHI is scheduled to deliver the vessel dur Read More »

GE Shipping unit drops plans for an IPO

AJOT | February 13, 2011 | Breakbulk & Projects

India's Great Eastern Shipping Co Ltd said its unit Greatship (India) Ltd (GIL) has dropped plans for an initial public offering of shares citing bad market conditions.

In May last year, sources had told Reuters, the offshore services provider was pla Read More »

Small ships to unlock rate boon for bulk owners

AJOT | February 13, 2011 | Breakbulk & Projects

Dry cargo shippers with smaller vessels are shifting to more-risk, more-reward spot markets, eyeing rising demand for sugar and grains -- commodities well suited to versatile supramax and handysize ships.

Ship owners generally prefer long-term charter Read More »

Wilhelmsen Ships Service expands US ports services with Jo Tankers

AJOT | February 13, 2011 | Breakbulk & Projects

A new contract to supply ships services to one of the world's largest chemical transportation fleets, Jo Tankers, has strengthened Wilhelmsen Ships Service's port coverage for the customer in the USA. Wilhelmsen Ships Service (WSS) has been contracted to Read More »

WWL earns recognition as John Deere ‘Partner-level Supplier ’

AJOT | February 13, 2011 | Breakbulk & Projects

Wallenius Wilhelmsen Logistics (WWL) has earned recognition as a Partner-level supplier for 2010 in the John Deere Achieving Excellence Program. The Partner-level status is Deere & Company's highest supplier rating. The Norway-based company was selected f Read More »

Bromma wins major ports spreader contracts for Columbia, Brazil and Kuwait

AJOT | February 13, 2011 | Ports & Terminals

Bromma has been awarded contracts for a total of 62 new spreaders for three port projects in Colombia, Brasil and Kuwait.

In Colombia Bromma has won a new contract for 29 crane spreaders (5 quay crane spreaders and 24 all-electric RTG spreaders) for Read More »