Softlink’s Cloud ERP platform Logi-Sys for freight industry now includes WIN connectivity, enabling users to communicate with other WIN-connected forwarders. Amit Maheshwari, CEO-Softlink, said, “WIN’s unique value proposition is connecting forwarding agents to their agent partners who use completely different systems. By adding WIN interface to Logi-Sys, our customers can share information electronically with their key overseas partners, giving them an advantage in terms of efficiency, cost saving and improved customer service.” Softlink completed this integration and deployed it to a major customer, (TKPL - Tulsidas Khimji Pvt Ltd), with record speed becoming the First Freight Forwarding Solution on the market to be fully integrated with WIN. Cloud ERP platform Logi-Sys integrates air freight, sea freight, transport, containers, warehouse, PO and several other operations with specially designed financial system. Logi-Sys also provides online visibility to customers and agents.
Orient Overseas (International) (OOIL), the parent company of Orient Overseas Container Line (OOCL), said its profit had risen 32 percent year on year (y/y) to $238.6 million in the first six months of 2015, due cheaper fuel costs helped it tide over a slump in freight rates. However, revenue declined 6 percent to US$3 billion during the same period as overcapacity and weak demand continued to plague the container shipping industry, a stock filing of OOIL said on 10 August.
The United States Coast Guard (USCG) initiated the Qualship program on January 1, 2001 to reward quality owners. Lloyd's Register classed ships dominate the latest USCG list, with more quality ratings than any other classification society. These ships will all benefit from less frequent USCG inspections. Among the 41% of ships that are classed by Lloyd's Register are those owned by AP Moller, P & O Nedlloyd, Overseas Shipholding Group, Shell International and BP Amoco.
U.S. President Barack Obama recognizes port projects as nationally and regionally significant The projects announced are the first seven of 43 additional projects that will be expedited under the Executive Order. The names of the other projects will be announced in the coming weeks. The seven projects include five harbor improvements to deepen federal navigation channels for larger ships (in Jacksonville, Miami, Charleston, Savannah and New York/New Jersey)
At MarineMoney's New York City event earlier this summer, tanker operators were in a somber mood, and Michael Reardon, Manager Global Strategy and Freight Traiding, ConocoPhillips, was quoted as saying: “Floating storage took VLCCs out of the market and sent false signals to the market ... We are at or near the bottom; things can get worse, but not much worse.” Don't look now, but things have gotten worse.
Japanese freight carrier Kintetsu World Express Inc is buying Singapore's APL Logistics for US$1.2 billion, paying a higher than anticipated price for an overseas deal at a time of slow domestic growth. Tokyo-headquartered Kintetsu Express said on Tuesday that it agreed to pay S$1.6 billion to buy all of APL's shares from its parent, Neptune Orient Lines (NOL). Its own capital and bank loans will be used to fund the deal, it said.
'Intermodal Container Leasing in the US Industry' market research report published by IBISWorld Excerpts from the report are as follows: The Intermodal Container Leasing industry is heavily dependent on large-scale domestic and international trade levels. Thus, as consumer spending fell during the recession and demand for goods across the economy dipped, fewer containers were needed for the transport of products. However, China's resilience and strong growth throughout the past five years
Cantwell, Booker, Murray, Markey introduce freight investment legislation aiming to eliminate chokepoints at critical highway, rail, port and intermodal facilities to support economic growth, and reduce the impact of freight movement on communities U.S. Senators Maria Cantwell (D-Wash.), Cory Booker (D-N.J.), Patty Murray (D-Wash.) and Edward Markey (D-Mass.) introduced legislation to establish a multimodal freight investment policy to keep America businesses
Drewry Maritime Research, the global leader in freight rate benchmarking, has expanded its flagship Container Freight Rate Insight publication and now provides freight rate benchmarks on 550 international trade routes. Published monthly, the report provides all-in spot rates on all the key shipping routes of the world, including both headhaul and backhaul trades. In addition to the monthly report, subscribers also have access to an online database of both current and historical freight
The American Association of Port Authorities (AAPA) welcomed the recent release of the U.S. Department of Transportation (U.S. DOT) "Report to Congress on National Highway System (NHS) Intermodal Freight Connectors." The report, requested by Congress under the provisions of the Transportation Equity Act for the 21st Century (TEA-21), reviews connectors to seaports, airports, and major intermodal terminals to determine: (1) their condition; (2) improvements or investments made or planned; and
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday for a fifth straight session on stronger demand across all vessel segments. The overall index, which factors in rates for capesize, panamax
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday for a fourth straight session as higher demand propped up rates for panamax vessels. The overall index, which factors in rates for capesize, panamax
Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek. VEB said in a statement that the guarantee would help encourage overseas financing for the Yamal project
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday, for a third straight session, on rising demand across all vessel segments. The overall index, which factors in rates for capesize, panamax
Around 47 MidEast charters fixed for July loading so far; older tonnage and new vessels a drag on freight rates. Freight rates for very large crude carriers (VLCCs) are set to nudge higher next week after moving above nine-month lows on increased charters this week, ship brokers said on Friday
Slowing growth in the size of the shipping fleet will reduce the shortage of officers over the coming years, according to the latest Manning report published by global shipping consultancy Drewry. The global shipping fleet – encompassing all sectors except the non-cargo
Starting July 1, Crowley Maritime Corporation will offer weekly, fixed-day, less-than-container-load (LCL) shipping services from Houston to 33 port destinations throughout the Caribbean Basin, the shipper announced today. The new logistics service is designed to enhance supply chain
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday as demand strengthened across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels
Shipowners seeking $10 per tonne from Brazil-China; dry cargo demand to remain subdued this year. Freight rates for large capesize dry cargo ships on key Asian routes may firm up next week on increased chartering activity, tighter tonnage supply and possible port disruption caused by bad
Moody's Japan K.K. says that its outlook for the global shipping industry over the next 12-18 months is negative. "The negative outlook reflects our expectation that earnings will worsen, with freight rates likely to remain depressed amid ample supply," says Mariko Semetko
According to Xeneta’s global database of over 12 million contracted ocean freight rates, the containership market is staging a small recovery, with short-term rates rising, suggesting long-term costs could soon follow suit. This may be positive news for carriers
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday on stronger demand across all types of vessels. The overall index, which factors in rates for capesize, panamax, supramax, and handysize shipping vessels, was up five points
Shippers tell Drewry survey they don’t expect much of a volume uplift in the third-quarter peak season. Nearly half of the 51 shippers who responded to our survey said that they expect volumes for the third-quarter peak season to be the same as they were last year
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell Tuesday on lower demand for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 2 points, or 0
Russia's Rosneft and Italy's shipping company Pietro Barbaro have agreed to jointly develop international sea freight operations, as the oil group has been aiming to expand its shipping business. Rosneft (represented by RN-International projects) and Pietro Barbaro S.p.A