Feature
The U.S. Federal Maritime Commission on Feb. 23 established new requirements for how common carriers and marine terminal operators (MTOs) must bill for demurrage and detention charges, providing clarity on who can be billed, within what timeframe, and the process for disputing bills.The Ocean Shipping Reform Act, passed in 2022, requires the FMC to specify who can be billed for detention and demurrage charges,A key provision of the Feb. 23 ...
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French-based CMA CGM Group said 2023 was a year of transition and normalization in the transport and logistics industry, and the company is positioning itself to weather an “uncertain 2024.”After “extraordinary years” in 2021 and 2022, CMA CGM said 2023 was marked by major inventory ...
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Danish container line giant A.P. Moller – Maersk reported solid financial results for 2023, in line with the company’s financial guidance.Though volumes were up across most products and cost controlled efforts helped improve results, rates continued to erode, particularly in ocean. The company reported EBITDA ...
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United Heavy Lift’s latest addition to its fleet, the multipurpose heavy-lift vessel UHL Fresh, has begun its maiden voyage, carrying project cargo from Tianjin in China to Vaasa in Finland.Delivered to UHL on Jan. 24, It is the 18th vessel in the Hamburg-headquartered operator’s F900 ...
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The Port of Corpus Christi set a new high mark for annual tonnage, topping more than 200 million tons of goods through the Corpus Christi Ship Channel for the first time in its history.The 203 million tons moved in 2023 was an 8.1 percent increase ...
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Eight months after the Brownsville Navigation District Board of Commissioners, or BND, broke ground on the Port of Brownsville’s business park, prospective businesses are lining up to negotiate lease agreements with the port.At a regular board meeting Feb. 7, the board unanimously approved leasing rates ...
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Amidst third-quarter losses, Japanese shipping and logistics company NYK Line anticipates the Red Sea crisis giving lift to its bottom line in its fiscal fourth quarter.NYK Line reported a net loss of US$1.04 billion for its third quarter ending Dec. 31, down US$5.18 billion from ...
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The Mississippi State Port Authority said Feb. 1 it reached a long-term lease agreement between the Port of Gulfport and CORE X GULFPORT that will include constructing a 150,000-square-foot cold storage facility.The lease agreement has an initial term of 60 years with two 15-year renewal ...
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BIMCO, one of the largest international shipping association for shipowners, has established a subcommittee to work on a global standard contract for the transport and installation of offshore wind turbines.The project aims to support the offshore wind industry as global demand for renewable sources of ...
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Multipurpose vessel operator Swire Shipping said Westwood Shipping Lines, a niche vessel operator acquired in June 2022, has integrated and has taken on the Swire Shipping name.Westwood Shipping operates between the Pacific Northwest and Northeast Asia, and Swire Shipping’s acquisition was part of the Singapore-based ...
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