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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


Laugfs Buys Third LPG Carrier Vessel

Photo: LAUGFS Holdings

 Laugfs Maritime Services, the shipping division of Sri Lanka’s Laugfs Gas,  has purchased its third Liquefied Petroleum Gas (LPG) carrier vessel for USD 2.875 million, reports  Lanka Business Online quoting company sources.  


Spot box rates rise above 5-year average - Drewry

Image Drewry

Spot container freight rates on the major East-West routes reached a 20-month high this week and have risen above the average of the last 5 years. The latest weekly reading is $1,770/40ft container for the composite index, reflecting increases on individual lanes to $1


Spot Box Rates Rise Above 5-Year Average

Graph: Drewry Shipping Consultants Limited

 Spot container freight rates on the major East-West routes reached a 20-month high this week and have risen above the average of the last 5 years, said a report by Drewry.   The latest weekly reading is $1,770/40ft container for the composite index


Asia Dry Bulk-Capesize Rates Firm as Weather Delays Weigh

File Image: a large bulk carrier underway (CREDIT: BSM)

Brazil-China rates climb to a 15-month high; about 80 capesize, panamax ships waiting to unload around Tianjin.   Freight rates for large capesize dry cargo ships on key Asian routes are likely to remain firm for at least two more weeks as bad weather conditions in China and Australia help


Polferries, Sup4Nav Ink Navdec system Deal

JakubKomers, Technical Director of Polferries (on the right) and Piotr Wołejsza, CEO of Sup4Nav, after signing agreement (photo Weronika Bulicz)Maritime University of Szczecin

The Navdec system designed to improve safety of passengers and freight and aimed to support navigators in collision situations was tested on board the ferry m/f Wawel and m/f Mazovia in 2016. This invention will also be installed now on m/f Baltivia sailing from Świnoujście to Ystad


Maersk, Alibaba Team up to offer Online Booking

File Image: A maersk vessel alongside working cargo (Maersk)

Maersk, the world's largest container shipping line, has teamed up with Alibaba to allow customers to reserve space on its vessels through the Chinese company, illustrating growing cooperation between e-commerce and logistics firms.  


Chakraborty Appointed Branch Manager, GAC Bangalore

Mukesh Chakraborty Photo GAC

GAC Shipping (India) Pvt Ltd has appointed Mukesh Chakraborty as the Branch Manager, Logistics Services for its Bangalore office. Mukesh brings 13 years of experience in freight forwarding, customs clearance, transportation and warehousing and distribution to his new role.


Global Container Fleet Market to Grow 3% in 2017-21

Photo by CMA CGM

 A report forecasts the global container fleet market to grow at a CAGR of 3.19% during the period 2017-2021. The report says key vendors in the market are Maersk, CMA CGM & MSC.   To calculate the market size, the report by Research and Markets  considers volume based on


TFI Acquires National Fast Freight

Image: National Fast Freight

 TFI International Inc., formerly known as TransForce Inc., a North American leader in the transportation and logistics industry, has announced that a wholly-owned subsidiary of TFI International has acquired Brampton, Ontario based National Fast Freight (NFF) from Calyx Transportation Group


Port Infrastructure and the Role of Government

The new South Harbor of America’s Central Port, located just north of downtown St. Louis in southwestern Madison County, Illinois. Significant TIGER grants from the U.S. Department of Transportation helped make this possible. (Photo: America’s Central Port)

We are in the midst of a revolution over port infrastructure. This revolution is not about the role of ports as silent engines for our economy and the need for better intermodal infrastructure. Rather, it is about why governments – local, state and federal – believe ports exist


Sino-Global Shipping Enters Agreement With COSCO

Image: Sino Global

 Sino-Global Shipping America, a non-asset based global shipping and freight logistic integrated solution provider,  has announced the signing of an Inland Transportation Agreement  with COSCO Beijing International Freight Co in which COSFRE Beijing will utilize the Company's


How Will OPEC’s Cuts Affect Tanker Markets?

© Evren Kalinbacak / Adobe Stock

After a year of tumultuous political and policy upheaval, both oil and tanker markets are undergoing a process of rebalancing.   The fourth quarter of 2016 is capping what has been a mixed 12 months for the tanker markets. The agreement by OPEC members and non-members alike to cut


Freight Rates Jump after Hanjin Collapse

Photo: Hanjin Shpiping Co

 The cost of transporting containers from ports now shows signs of recovery after the fall of Hanjin Shpiping Co after a period of down play, says a report in Business Korea.   It appears that the strategy of Maersk Line, the world’s largest shipping group which cuts down


Asia Tankers-VLCC Rates to Slide on Lower Cargo Volumes

File Image: A so-called SuezMax tanker transits the Suez Canal (CREDIT: Suez Canal Authority)

34 VLCC MidEast cargoes fixed for early Jan -Reuters terminal; only nine fixed so far for mid-Jan.   Freight rates for very large crude carriers (VLCCs), which hit a new nine-month high this week, are on course to soften amid a weaker cargo market as owners wait for more charters to be


Indian Shipping Industry Focus

The Union Minister for Shipping Nitin Gadkari. Photo: PIB, Govt of India

 India has one of the largest merchant shipping fleet and ranked 17th among the developing countries with average age of the fleet being 18.03 years.  95% of the country’s trade by volume (68% in terms of value) is moved by sea.  






 
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