YRC restructuring plan approved

AJOT | May 02, 2011 | Intermodal

YRC Worldwide Inc said lenders had agreed to its restructuring plan.

The Overland Park, Kansas-based company said in a news release that more than 95 percent of its senior secured lenders have approved the plan, which would leave existing shareholders Read More »

CN’s Scheduled Potash Service drives new supply chain efficiencies for key customers

AJOT | May 02, 2011 | Intermodal

CN said its Scheduled Potash Service has increased supply chain efficiencies for producers in Western Canada and provided them quicker access to markets.

CN's Scheduled Potash Service is focused on an end-to-end management of the supply chain in colla Read More »

Canada’s Red River flooding to crest this week

AJOT | May 02, 2011 | Intermodal

A weekend storm that brought snow, rain and strong winds to the already flooded Red River Valley created large waves but did not inflict major damage on flood defenses in the Canadian province of Manitoba.

The Red River is expected to peak in the prov Read More »

South Korea April exports soar, builders get support

AJOT | May 02, 2011 | International Trade

South Korean exports rose more than expected to a record amount in April but imports far missed market expectations on a persistent slump in domestic demand that has emerged as a risk to Asia's fourth-largest economy.

Overseas sales by the world's sev Read More »

Steel imports increase in March on strength of NAFTA and semis arrivals

AJOT | May 02, 2011 | International Trade

Imports increased by 32.5 percent in March compared to depressed levels in February and 19.1 percent compared to March 2010 according to preliminary government data. 'Imports increased in March in response to improved market conditions. Our NAFTA partne Read More »

Brazil trade surplus widens despite strong real

AJOT | May 02, 2011 | International Trade

Brazil's trade surplus in April widened for the third consecutive month, the trade ministry said, as exports grew at a faster pace than imports despite the strong local currency.

Brazil posted a trade surplus of $1.86 billion last month, up from $1.55 Read More »

US group urges focus on China state-owned companies

AJOT | May 02, 2011 | International Trade

The United States should focus less on China's currency practices and more on the threat to U.S companies posed by Beijing's support for state-owned enterprises, a U.S. business group said.

China has used regulatory and other barriers to promote "dome Read More »

Canned Black Forest torte Germany’s newest export

AJOT | May 02, 2011 | International Trade

A bakery deep in Germany's Black Forest has found an unlikely hit canning the region's famous Black Forest cherry torte cake and shipping it to fans as far away as Azerbaijan and Brazil.

The idea first came to baker Johannes Ruf after his sister livin Read More »

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 »