Reduce the Headaches: The Need for an Upgraded Transportation Management System In 2009, the United States alone shipped more than 2.2 billion pounds of goods such as coal, crude materials like wood, sand and gravel, and primary manufactured goods (United States Census Bureau). Undoubtedly, this required complex logistical planning for companies shipping their goods and left many transportation managers with headaches. Therefore, it should come as no surprise that there is an uptick in interest to invest in upgraded transportation management systems that help companies manage shipping both domestically and internationally. In fact, a recent survey by EyeForTransport showed transportation management systems to be the top category for future IT investments at 53%—ahead of CRM, WMS and other software applications. But what are the reasons that more advanced transportation management systems are piquing the interest of companies around the world? Commercial transportation faces unprecedented complexity. For shippers and logistics service providers (LSPs), ever-increasing customer demands for efficiency require more transportation accuracy, speed, and flexibility than ever before. So to help keep customers happy around the world by ensuring that the correct goods are shipped and received on time, transportation managers are leveraging systems that enable an end-to-end order management process
The Office of the Inspector General (OIG) of the Department of Transportation released a report stating that the Maritime Administration (MARAD) is required to reimburse the Department of Agriculture (USDA) for “excess” ocean freight costs that food assistance programs incur in order to comply with cargo preference statutes. There is a dispute between MARAD and USDA regarding how to calculate the amount owed. USDA recently billed MARAD $379 million in excess freight charges
Russia'sNorilsk Nickel - a big metal producer -- has finished a feasibility study of a project to use nuclear submarines for ore shipments, which once started will cost $80 million, Norilsk's chairman said. "The feasibility study has been prepared and now the board of directors has to approve spending of up to $80 million for its implementation," Yuri Kotlyar said. "But even then the decommissioning of the submarines should be sanctioned by the state."
CaroTrans, a leading global NVOCC (non-vessel operating common carrier) and ocean freight consolidator, today announces their U.S. West Coast port readiness program to address potential supply chain disruptions. Congestion and current labor issues are impacting the flow of cargo at U.S. West Coast ports and there is the likelihood of further instability. To address this infrastructure challenge, CaroTrans has developed alternative routing solutions to lessen the impact on supply
Lower oil prices are sharply reducing the cost of shipping merchandise from Asia to the United States and Europe as the cost of bunker fuel tumbles. Container shipping companies deal with the volatility in fuel prices by adding a separate bunker adjustment factor or fuel surcharge to their freight rates. Fuel can account for more than 60 percent of the total operating costs of moving freight across the oceans so the surcharges are one of the most important elements of total
Brazil hopes that during a visit by Chinese President Xi Jinping it can boost ties with its biggest trade partner beyond the exchange of commodities for manufactured goods, but that may be wishful thinking. Accords China will sign with Brazil when Xi meets with President Dilma Rousseff on Thursday focus on improving infrastructure to make sure raw materials China is hungry for make it to port, with railways a top priority.
3rd U.S. condensate export cargo heading to Singapore; Pioneer expects exports to rise to 50,000 bpd next year. Eyes exports of bigger cargoes to reduce freight costs. Pioneer Natural Resources plans to double its U.S. exports of condensate, an ultra-light oil, to 50,000 barrels per day (bpd) next year, its chief executive said on Monday. The U.S. shale resources explorer, along with Enterprise Product Partners LP, received the green light from the U.S
Asia petrochemicals firms are building tanks and retooling plants to store and process liquefied petroleum gas imported from the United States, counting on a flood of supply from the shale boom to replace costlier naphtha as a raw material. Samsung Total Petrochemical, LG Chem and Royal Vopak are among a number of companies in Asia expanding import terminals or retrofitting plants over the next one to two years as they buy more LPG
SeaBridge Freight, Inc. of Jacksonville, FL announced that it will launch its “marine highway” short sea transportation service on December 1, 2008. SeaBridge Freight will initiate its bluewater container-on-barge operation between the Port of Brownsville, TX and Port Manatee, FL. The Company’s 600 TEU capacity barge (approximately 300 truckloads) will link the large and growing Texas/Mexico and Southeastern U.S. markets.
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 6.5 percent to $938 per 20-foot container (TEU) in the week ended Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters. It was the fourth consecutive week of falling freight rates on the world's busiest route. Container freight rates have so far increased two weeks this year but fallen for five.
Healthy returns enjoyed by the product tanker market in recent years are under threat as impending fleet growth is expected to reduce the sector’s earnings over the medium term, according to the Product Tanker Market Annual Report 2015 published by global shipping consultancy Drewry.
Demand for crude storage in the Caribbean, one of the world's most important oil hubs, is rising as producers and traders try to ride out the worst price crash in six years by holding onto more barrels or making blends that can be sold for premiums.
Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped by 26 percent to $591 per 20-foot container (TEU) in the week ended on Friday, data from the Shanghai Shipping Exchange showed. The rise in spot freight rates came after all major container shipping
In the second quarter, CMA CGM demonstrated the strength of its business model by significantly outperforming the market, despite a sharp fall in freight rates and industry overcapacity: * Volumes carried during the second quarter increased by 6.2% year-on-year, to 3
Russia’s biggest shipping company PAO Sovcomflot (SCF Group) surpassed its own expectations and went forward on both revenue and net profit in the first six months. It has posted a gross revenue increase of 11.8 per cent in the first half of 2015 worth USD 754
In what it is calling its best quarterly performance since third quarter 2008, the Odfjell Group for the second quarter of 2015 reported net results of $7 million. The group, which transports and stores bulk liquid chemicals, acids, edible oils and other special products
Merger with CSAV is expected to deliver $100 million higher synergies than targeted, strong operating results, significant increases in transport volume and revenue driven by the merger Container shipper Hapag-Lloyd said it has increased transport volumes and revenue as well as earnings
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 26.7 percent to $469 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.
The global dry bulk freight market, crippled by oversupply but seeing signs of renewed activity, is expected to take at least a year to hit the road to recovery, according to the latest Platts survey of shipping market participants.
Tonnage list grows in Pacific, Atlantic oceans; lack of coal cargoes weigh on freight rates. Freight rates for capesize bulk carriers are set to slide further next week, after falling to their lowest level in five weeks, due to a mounting supply of tonnage and uncertain cargo demand
A surge in crude tanker vessel capacity over the next two years will lead to a fall in ship-owner earnings from current highs, according to the latest edition of the Tanker Forecaster, published by global shipping consultancy Drewry.
The world's largest container shipping company, Maersk Line, plans to raise spot freight rates sharply on main routes from ports in Asia to ports in northern Europe, with effect from Sep 1, the company said. Spot rates for twenty foot equivalent unit containers (TEU) will rise by $1,000
Dashing hopes of a quick recovery from the global trade recession earlier this year, world shipping has fallen into a deep slump over the late summer, says a report in the Telegraph. Commodity turmoil could blow the shipping industry off course.
Rickmers Group published its Half-Year 2015 results, reporting that the company increased its revenues in the first half of 2015 by 6.6 percent from €271.1 million ($301 million USD) to €289.6 million ($321 million), despite the persistently strained market situation and a number
Maersk Line reported a first half-year 2015 (H1) result that is USD 220 million higher than H1 2014. This was achieved due to lower costs. Revenue in H1 was USD 12,517 million, which is 6.8% lower than H1 2014 (USD 13,365 million). Volumes were 1.1% higher