Sea
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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CMA CGM on Feb. 29 said the French shipping and logistics company has completed the purchase of The Bolloré Group for 4.85 billion euros, based on estimated debt and cash on the completion date.Bolloré Logistics, the transport and logistics business unit of Bolloré Transport & ...
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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 South Louisiana said Life for Tyres Group Ltd. will invest US$46 million to establish its first U.S. processing facility on 10 acres of port property in the port’s Globalplex.The recycling and manufacturing plant, L4T Louisiana LLC, will convert end-of-life tires into high-quality ...
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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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Port Canaveral has added a second mobile harbor crane to its landside cargo operations, significantly expanding the port’s ability to handle an increasingly diverse cargo platform.The 320-foot-tall Liebherr LHM 600 evo 6 mobile harbor crane joins the Liebherr LHM 600 evo5, which was placed into ...
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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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