German container shipping line Hapag-Lloyd raised its 2019 operating profit by 80% to 811 million euros ($875.47 million) as it earned higher freight rates and cut costs, the Hamburg-based firm reported on Wednesday.'The main drivers of the…
German container shipping line Hapag-Lloyd said on Tuesday its business in Asia was 'overall stable,' although the coronavirus outbreak had extended the traditionally slack period around China's Lunar New Year holiday.China's efforts to control…
China will grant exemptions on retaliatory duties imposed against 696 U.S. goods, the most substantial tariff relief to be offered so far, as Beijing seeks to fulfill commitments made in its interim trade deal with the United States.Tuesday's…
When President Xi Jinping made his first state visit this year to Myanmar and signed new infrastructure contracts, there was no indication of the obstacle about to trip up China's plan for railways, ports and highways around the world: the coronavirus…
The Helen Delich Bentley Port of Baltimore recorded another record-breaking year in 2019. Figures released show new high marks for cargo tonnage passing through the Port’s public and private marine terminals, as well as new benchmarks for containers and the number of cars and light trucks handled…
A.P. Moller - Maersk has appointed Patrick Jany as its new chief financial officer, effective May 1, 2020.Jany, a German citizen, joins the world's largest shipping company as CFO and a member of the executive board after more than two decades with Swiss chemicals company Clariant…
German international shipping and container transportation company Hapag-Lloyd AG and compatriot logistics and transportation company Hamburger Hafen und Logistik AG (HHLA), will be continuing their close cooperation in Hamburg for another five years…
The federal government allocated $93 million for the next phase of deepening the Jacksonville shipping channel to 47 feet from its current depth of 40 feet. Of the total $93 million investment, $57,543,000 is included in the U.S. Army Corps of Engineers’ Fiscal Year 20 Work Plan…
China's fast-spreading coronavirus is squeezing air and sea freight capacity in the country with a spike in freight rates a likely consequence, one of the world's biggest transport and logistics companies said on Friday.The spread of the deadly…
On Friday January 31, 2020 Stena Line closed the Varberg-Grenaa route. The day after, on Saturday, February 1st Stena Line’s new ferry route between Halmstad in Sweden and Grenaa in Denmark was officially opened. The inauguration started early…
The U.S. trade deficit fell for the first time in six years in 2019 as the White House’s trade war with China curbed the import bill, keeping the economy on a moderate growth path despite a slowdown in consumer spending and weak business investment…
The Vietnam National Shipping Lines Corporation (Vinalines) has set sights on joining the global shipping alliances (GSA).As part of this move, Vinalines will devise a number of measures to further promote growth of its three key sectors of seaport…
Ukraine officials and traders do not expect the coronavirus epidemic to have an impact on the country's grain exports to China, although there are delays to transport and disruption to logistics throughout the country.China is a major importer of Ukrainian corn and sunflower oil…
Capesize index plummets to -133, the first time ever in negative territory – is it all up from here?The Baltic Exchange Capesize Index (BCI) dropped to -133 index points on February 4, 2020, turning negative for the first time ever on January 31…
The economic impact of China's coronavirus lockdown is being felt across the globe, with exporters, miners and manufacturers of everything from coal and timber to meat and fruit facing delays and potential shipment cancellations.As the most…
