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Freight In

Improving U.S. Freight Transportation System

The Panel on 21st Century Freight Transportation published its final report on United States freight transportation, offering an assessment of its current condition with recommendations for strengthening nationwide infrastructure and U.S. economy. The panel, led by its Chairman, U.S. Rep John J. Duncan, Jr. (R-TN) and Ranking Member Jerrold Nadler (D-N.Y.), was founded by Full Committee Chairman Bill Shuster (R-Pa.) and Ranking Member Nick J. Rahall, II (D-W.Va.) in April 2013 to examine U.S. freight transportation, the role it plays on the nation’s economy and ways in which it may be improved, including financially, structurally and technologically. The Freight Panel offered to Congress a list of suggestions to “safely and efficiently meet the needs of freight movement in the 21st century:” Direct the Secretary of Transportation, in coordination with the Secretary of the Army and the Commandant of the U.S. Coast Guard, to establish a comprehensive national freight transportation policy and designate a national, multimodal freight network; Ensure robust public investment in all modes of transportation on which freight movement relies, and incentivize additional private investment in freight transportation facilities, to maintain and improve the condition and performance of the freight transportation network;


World Container Index (WCI) to launch in September

Drewry Shipping Consultants and The Cleartrade Exchange announced that the World Container Index (WCI), the first Europe-based assessment of container freight rates and index production, is scheduled for launch in September 2011. The index will be designed to provide a new and important facility for the global market to hedge their freight rate risk and see major improvements in forward price discovery through the container derivatives market.


IRS Changes Freight Tax Exemption

The US Internal Revenue Service (IRS) issued final, temporary and proposed regulations recently that significantly change certain requirements to claim the exemption from freight tax. In addition, the regulations clarify that certain activities will be treated as "incidental" to international shipping operations, meaning that income from these incidental activities can qualify for the exemption from freight tax. (Source: HK


Shipbrokers, Oil Brokerage House Form Freight Forwards

BraemarTankers Ltd., Galbraith's Ltd., E.A.Gibson Shipbrokers Ltd., PVM Oil Associates Ltd. and Seascope Shipping Ltd. have formed Global Freight Forwards Limited. The company has been created initially to broker forward freight swaps for the tanker market segment in key trade routes. Contracts have been devised to meet multi-client needs and in response to Owners' and Charterers' requirements for freight protection without taking physical delivery.


Crowley Merges Jarvis International Freight into Crowley Logistics

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Business Unit to Now Offer Project Logistics and Global Freight Management Services to New Industries and more Geographic Locations. Crowley Maritime Corporation announced today that its recently acquired Houston-based, freight forwarding, export packing and logistics company, Jarvis International Freight, Inc., will transition into the company as a new branch of Crowley Logistics, offering project logistics and global freight management services to a wider array of industries and in more


Logistics Confidence Index Again on the Increase

Stifel Nicolaus Logistics Confidence Index suggests the current market remains weak, however the outlook is increasingly positive. The Stifel Nicolaus Logistics Confidence Index increased for the third consecutive month in January 2013, according to the latest industry study undertaken by Transport Intelligence. The overall index, an average of the current and expected situation, increased 0.8 points to 48.8 from 48.0 in the last month of 2012.


FMH Targets Profit Growth

Freight Management Holdings Bhd (FMH) is targeting a double-digit growth in net profit for the financial year ending June 30, 2007. This is due to its new barge business and consistent contribution from its sea freight business. The company had in February acquired a 51% stake in Singapore-based TCH Marine Pte Ltd, paving the way for it to enter the barge and tugboat business. TCH is a provider of barge and tugboats


German Yard FSG Launches its Longest RoRo Ferry

Photo credit FSG

Flensburger Schiffbau-Gesellschaft launches first of two RoRo freight ferries for the Turkish shipping company Ulusoy Sealines.  “At 208 metres, this is the longest and biggest freight ferry ever built at FSG”, declared shipyard Managing Director Peter Sierk. He added that it was a very significant moment for him and the entire shipbuilding team at FSG to see the “Ulusoy 14” slide into the Flensburg Fiord without a problem.


Free App Makes Freight Markets Mobile

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Freight Investor Services (FIS), a broker of freight and commodity swaps, launched a mobile app that puts the freight and commodity swaps market in the hands of users, wherever they are. The app combines indicative market prices across the main freight and commodity groups with powerful graphing to display forward curves and historical spot prices. Also included are FIS daily reports for all markets, including closing curves, commentaries, spreads and ratios.


Asia-Europe Container Rates Fall Almost 11 pct

Containership_Marad.jpg

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 10.7 percent to $1,198 per 20-foot container (TEU) in the week ended on Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters. It was the second consecutive week of falling freight rates on the world's busiest route. Container freight rates have so far increased in 10 weeks this year but fallen in 23 weeks.


Biden Champions Maritime at Port of Virginia

VP Biden speaks at the Port of Virginia (DOT photo)

Carrying 95 percent of U.S. foreign trade, our maritime transportation system, which includes America’s ports, is a crucial component of our nation’s economy. And with our growing population—and the associated need to increase the amount of freight our transportation network


U.S. Drivers to Face Delays at Rail Crossings due to Oil Shipments

Delays at Train crossing

  Runaway oil production could slow road traffic as drivers face longer delays to cross train tracks in many congested regions, a U.S. study released on Friday predicted. Oil, coal and grain shipments are taxing the national rail grid as the deliveries of those commodities are expected to


HPA to Introduce New Port Railway IT System

  The Hamburg Port Authority (HPA) will implement the new Port Railway IT system, transPORT rail, in the night of 27 to 28 September 2014. To keep disruption on the tracks to a minimum, the switchover will take place overnight. The new system is another milestone in the HPA’s


U.S. Maritime Security: The Portunus Concept

(LLNL Photo)

The mission of the Lawrence Livermore National Laboratory (LLNL) is to strengthen United States’ security through development and application of world-class science and technology. LLNL seeks to enhance the nation’s defense; reduce the global threat from terrorism and weapons of mass


Maersk to Raise Freight Rates from Asia to Europe

Photo: Maersk

The world's biggest container shipping company Maersk Line, a unit of A.P. Moller-Maersk , said it plans to raise freight rates on routes from Asia to northern Europe by $400 per 20-foot container (TEU). The new rates will take effect from Sep


CEVA Expanding Presence in Southern California

  CEVA Logistics, one of the world’s leading supply chain management companies, today announced plans to expand its presence in the San Diego market with a new Freight Management and Logistics facility totaling 125,000 sq. ft. (11,612 sqm.) and 23 dock doors.


NZ Interislander Ferry to Dry-dock in Devonport

Aratere: Image courtesy of KiwiRail

NewZealand's KiwiRail says that the Interislander ferry Arahura has left Wellington for her scheduled bi-annual dry-docking in Devonport, having last visited Auckland in July 2012. Docking is being undertaken at the Devonport Dockyard under the management of Babcock’s New Zealand


Russia's Shipping Major Reports Strong 1H 2014

Tankship: Photo SCF

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial and operating results for the six months ended 30 June 2014.   Highlights:


Drewry Publish Latest Reefer Shipping Report

Report frontispiece: Image DMR

Drewry Maritime Research advises that it has just published it's latest Reefer Shipping report, which has new and improved content on the containerised segment of the market, providing a balanced analysis of the whole market, both specialised and containerised.


Asia-Europe Container Freight Rates Fall 6.6%

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 6.6 percent to $1.055 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.


Vale, Cosco to Cooperate on Iron Ore Shipping

Brazilian miner Vale SA reached a deal with China Ocean Shipping Co (Cosco) for transporting iron ore, a move that could help the Brazilian miner resolve a costly two-year ban on docking its mega-ships at Chinese ports. Vale said in a statement that it would transfer ownership of four very


USDOT Award Tiger Vl Maritime Grants

Kurt Nagle: Photo credit AAPA

American Association of Port Authorities
 (AAPA) say that after evaluating 797 applications totaling requests for $9 billion for FY 2014 Transportation Investment Generating Economic Recovery (TIGER) grants, U.S. Department of Transportation (USDOT) Secretary Anthony Foxx has announced 72 awards


Mideast Crude Tanker Rates Near 3-month Low

Crude oil tanker earnings on the major Middle East route fell to their lowest in nearly three months as a slowdown in business in recent days battered rate sentiment. The world's benchmark VLCC export route from the Middle East Gulf (MEG) to Japan <DFRT-ME-JAP> on Monday reached W37


CAGTC Members Win Big in TIGER VI

The U.S. Department of Transportation (USDOT) announced Friday that 72 projects will receive a total of $600 million from the sixth round of the Transportation Investment Generating Economic Recovery (TIGER) program. Of these, 12 Coalition for America’s Gateway and Trade Corridor (CAGTC)


New Sulphur Rules Force Changes at Stena Line

The new sulphur directive for shipping traffic within the North European SECA area, which comes into force on January 1, 2015, is good for the environment but has a significant economic impact on Stena Line's business.   The whole of the change program that begun in 2013






 
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