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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.


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.


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)


Hyundai Merchant Sees More Losses

Photo: Hyundai Merchant Marine

 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 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


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


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.   


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


Baltic Index Rises on Broad Demand

File Image (CREDIT: AdobeStock)

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


Asia-North Europe Box Rates Up 7 pct

File Image: Credit Port of Boston

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


Asia Tankers-VLCC Rates to Slide Further

File Image (CREDIT: EuroNav)

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


Baltic Index Gains for 9th Straight Session

© Eugene Sergeev / Adobe Stock

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.


IANA Introduces Resource Center

Photo: Intermodal Association of North America.

 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


Maersk Expects Healthier 2017 for Shippers

Photo: Maersk Line

 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 Launches Certification of Inland Passenger Vessels

Schoonhoven (Photo: Green Award)

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


Boxship Firms Sign up with Alibaba

File Image: A CMA CGM boxship condusting cargo operations alongside (CREDIT: Marad)

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.  


Aframaxes Taken for Short-term Time Charters in Asia

File photo: Tsuneishi Shipbuilding Company

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 to rule on Maersk-Hamburg Sud Deal by March 27

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


Higher Shipping Rates Boost Baltic Index

© Volodymyr Kyrylyuk / Adobe Stock

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


Tauranga Port Aims to Handle a Million Cargo Containers

Photo: Port of Tauranga

 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


Asia Dry Bulk-Capesize Rates Up on Increased Traffic

File Image (CREDIT: AdobeStock)

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


LR Tankers Taken for Gasoline Storage in Asia

Image: OFE

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


St. Louis Regional Freightway, New Orleans Port Sign MoU

Brandy D. Christian (Right), President and CEO of the Port of New Orleans, and John M. Nations, President and CEO of Bi-State Development, sign an MOU Feb. 23, 2017 at the Port Administration building between the Port and the St. Louis Freightway. Photo Port of New Orleans

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






 
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