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Overseas Freight

Softlink Bundles WIN Connectivity in Cloud ERP Logi-Sys

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.

OOIL's Profit Up

Image: Orient Overseas (International) (OOIL)

 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.

LR Classed Ships Head USCG Qualship List

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.

President Obama Announces Seven Significan Port Projects

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)

Tanker Shares Sink Lower

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.

Kintetsu Pays $1.2bln for APL Logistics

Image: Kintetsu World Express

 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.   

US Intermodal Container Leasing Market Report

'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

Multimodal Freight Bill Introduced in US Senate

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 Expands Container Freight Rate Benchmarking

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

AAPA: Study Proves Need For Improvement

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

Capesize Rates Fall to Eight-week Low

Capesize dry bulk vessel Nord Power (File photo: Dennis Schnell, Bulldog and Partners / Dampskibsselskabet NORDEN A/S	)

Freight rates for large capesize dry cargo ships on key Asian routes, which fell to an eight-week low on Wednesday, are likely to continue to slide next week as charterers drip-feed cargoes in an over-tonnaged market, brokers said on Thursday.  

De Nora Bags Repeat BWTS Order from OSG

Image: De Nora

Electrochlorination equipment supplier De Nora has received an order from tanker company Overseas Shipholding Group (OSG) for its BALPURE ballast water treatment systems (BWTS). OSG will retrofit the proprietary slipstream electrochlorination BWTS on four 69

More Casualties Possible in Container Shipping Shakeout -CMA CGM

File photo: Hanjin Shipping

Other container shipping firms may join Hanjin Shipping Co Ltd in receivership before the industry emerges from its current shakeout, the vice chairman of world number three player CMA CGM said on Wednesday. South Korea's Hanjin filed for protection from creditors in late August

Moody's: Ratings of Overseas Shipholding on Review for Downgrade

Photo: OSG

 Moody's Investors Service, has placed the ratings of Overseas Shipholding Group, Inc. (OSG) under review for downgrade, including its B2 corporate family and Caa1 senior unsecured ratings, and the B1 and Ba2 senior secured debt ratings of its subsidiaries, OSG Bulk Ships, Inc

Intermodal terminal moves to Gothenburg Port

Freight terminal in central Gothenburg moves to the Port of Gothenburg Photo Gothenburg Port

Plans are in place to move the freight terminal currently located in the central city of Gothenburg to the Port of Gothenburg. The switch will allow a higher proportion of transport by rail instead of road. At the intermodal terminal, in the city centre of Gothenburg

Ready for take-off? - Drewry

Tab1e 1 Note 2016 data is up to 20 October only Source Drewry Maritime Research, derived from World Container Index

The recent rally in Asia to Europe spot market rates has improved carriers’ chances of securing higher 2017 contract rates. How much extra will shippers have to fork out? It has been another typically volatile year as far as the spot freight rate market (i.e

Hanjin Talks on Long Beach Sale

Photo: Hanjin Shipping Co Ltd

 Hanjin Shipping Co Ltd is in talks to sell its stake in the Long Beach Terminal in California to Geneva-based Mediterranean Shipping Company S.A.(MSC), reports Reuters.   The court overseeing Hanjin's receivership says the company is negotiating with MSC

Container Shipping Industry Calls for Climate Action

Pic: Business for Social Responsibility

 Members of BSR’s Clean Cargo Working Group (CCWG) have agreed on a climate action statement and call to action for the container shipping sector and its value chain to support private-sector contributions for the global goals on climate change.   

Excess Tonnage Weighs on Asia Dry Bulk-Capesize Rates

File image: a so-called ValeMax bulk carrier (Credit: Vale)

Capesize market "absolutely dead" on Thursday - broker. Vale says no new cargoes but owners sail empty vessels to Brazil. Freight rates for large capesize dry cargo ships on key Asian routes will continue to fall next week as too many ships chase available cargoes

Container Shipping Market has Bottomed Out

Photo: CMA CGM

Hanjin’s receivership represents the trough of the container shipping market and despite continuing concerns of weak trade growth and fleet oversupply a gradual market recovery is now expected, according to the latest annual Container Forecaster and Review 2016/17 report published by global

CMA CGM Suspends Terminal Handling Charges in Ghana

Photo: CMA CGM

 CMA CGM informed its customers that the collection of Terminal Handling Charges (THC), which was introduced in Ghana on July 20th, 2016, has been temporarily suspended, effective October 4th, 2016.   CMA CGM will communicate on the resumption in due course.  

Hyundai Mulls Bid for Hanjin Assets, Routes

Photo: Hanjin Shipping

Hyundai Merchant Marine is considering bidding for its bigger local rival Hanjin Shipping Co.'s Asia-U.S. route, reports Yonhap.   Hyundai Merchant, currently under a creditor-led debt restructuring scheme, is planning to submit a preliminary bid for Hanjin Shipping's route

Florida's First Ocean-to-Air Transhipment

Innovative programs such as this one also help  business community strengthen ties within the global marketplace Photo Crowley

Already the busiest port of entry in America for international air freight, Miami International Airport will soon be able to receive perishable freight imports by sea as well – a first for any Florida airport – through a permit approved in September by the U.S

China Planning $100 bln Merger of Sinochem, ChemChina

Photo: Sinochem Group

 Chinese state-owned chemical companies Sinochem Group and ChemChina are in discussions about a possible merger to create a chemicals, fertilizer and oil giant with almost $100 billion in annual revenue, reports Reuters.   The deal was reportedly proposed by China’s central

MOL to Launch Biannual Vessel Safety Campaign

Photo: Mitsui O.S.K. Lines, Ltd

 Mitsui O.S.K. Lines, Ltd. (MOL) has announced the launch of its biannual safety campaign to begin on October 15, targeting all MOL group-operated vessels.   MOL views safe operation as a social commitment and gives it the highest of priorities in all of its business activities

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