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.
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.
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)
South Korea's largest deep sea carrier Hyundai Merchant Marine expects to post losses through the first half of next year due to poor market conditions, reports Bloomberg quoting its CEO Yoo Chang-keun. “This year will be the year to strengthen our financials,” Yoo told Bloomberg. “We are targeting to make an operating profit in the third quarter of next year. By early next year, we expect much of the overcapacity in the market will be resolved
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
'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
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.
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
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday on stronger demand across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 19 points
Container spot freight rates from Asia to Northern Europe rose 7 percent to $961 per twenty-foot equivalent units (TEU), the Shanghai Containerized Freight Index showed on Friday. Freight rates from Asia to ports in the Mediterranean rose $38 to $882 per TEU
Around 30 VLCC charters in Feb so far, versus 50 last month. About 40 refinery facilities to close for maintenance. Freight rates for very large crude carriers (VLCCs), which fell to multi-week lows on Thursday, could slip further as refinery maintenance in Asia weighs on cargo volumes
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, notched gains for the ninth straight session to end at a more than one-month high on Monday, helped by higher rates for panamax vessels.
The Intermodal Association of North America has created a resource center, available on its website, to provide a wide range of information for prospective intermodal users and those who are new to the industry. The Intermodal Freight Resource Center offers educational tools
Bloomberg quoted Robbert van Trooijen, APAC CEO of Maersk Line, saying that the current year (2017) will be more profitable than the last. Post-Hanjin, ocean freight customers now stressing stability and avoiding risk to supply chains, not just rates, he said.
Green Award, the quality mark for ships that meet the above-industry standards, expands to a new ship type. From 1st of January 2017 the Green Award certificate is available for inland passenger vessels. Green Award certifies sea-going and inland navigation ships that go beyond the industry
Two container shipping lines, France's CMA CGM and Israel's Zim, have signed up with Alibaba to allow customers to book space on their vessels through the Chinese e-commerce giant, in a bid to boost sales as the sector battles a severe downturn.
The Asian Aframax market is currently stable but seems to be facing a more positive outlook on the back of short-term time charters as well as an increase in third decade cargoes. Rates for an Indonesia/Japan run basis 80 kt are hovering around w100 to w102
EU antitrust regulators will decide by March 27 whether to clear world No. 1 shipping company Maersk Line's bid for German rival Hamburg Sud, its first major deal for more than a decade. The deal, one of several in a sector seeking consolidation to offset low freight rates and oversupply
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday due to strengthening rates across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels
New Zealand's largest freight gateway Port of Tauranga says it is on track to break the country's record for transporting more than one million containers in a single year. "Our results show the Port of Tauranga is continuing to reinforce its position as the country's premier
Record iron ore prices fuelling capesize chartering boom; freight rates rise by around $1 per tonne in a week. Freight rates for large capesize dry cargo vessels on key Asian routes, which hit multi-week highs on Wednesday, are set to continue to climb next week on buoyant iron ore cargo
Long range tankers taken for storage on expectations of tighter Asian gasoline market Singapore gasoline cracks have averaged $10.72/bbl in February so far, down by 12 percent y-o-y but still relatively firm. Robust demand from the Middle East and intra-Asia as well as a flurry of both
The Board of Commissioners of the Port of New Orleans and the St. Louis Regional Freightway today entered into a Memorandum of Understanding (MOU) to exchange market and operational information with the goal of growing trade and building upon existing and new business relationships between the two