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Global Logistics: Page 121
Hanjin Collapse Sends Shock Waves Globally - and Spot Rates Soaring
Spot container freight rates on the major routes from Asia soared by up to 42 percent following the collapse of Hanjin Shipping, data from the World Container Index reveals.
Hanjin Shipping Sails Toward Biggest Ocean Line Bankruptcy Ever
Hanjin Shipping has elected to file for court receivership, the first step towards what will be the largest container line bankruptcy in history - six times larger than the collapse of United States Lines three decades ago, the previous record holder.
Reefer, Tank Sectors Only Bright Spots in Global Leases of Container Equipment
Following markedly slow growth of just 3.5 percent in 2015 due to decreased rental demand, the global leased container equipment operating fleet is forecast to increase by little more than 1 percent in 2016, according to the latest edition of the Container Leasing Industry Annual Report 2016, published by global shipping consultancy Drewry.
IAG Cargo Upgrades European Freight Operation
IAG Cargo has begun two new short-haul freight services. It has launched service between Madrid and Amsterdam, to enable easier access for shipments between Amsterdam and Latin America.
APL Logistics Inks New Joint Venture in Oman
APL Logistics Ltd. has entered into a joint venture with Arab Global Logistics LLC in Oman.
Crowley Launches Container Service Between Jacksonville, Costa Rica
Crowley Maritime Corp. has launched a weekly, fixed-day container-shipping service between Jacksonville, Fla. and Costa Rica.
GE Issues Data Historian for Industrial Internet Connectivity
GE Digital has made available version 7.0 of Historian, an application that connects industrial equipment from the control layer to cloud environments, natively integrated with GE's Predix platform.
As Ocean Carriers Undergo Historic Consolidation, Shippers Could See Rates Increase
The container shipping industry is undergoing a historic wave of consolidation as carriers seek to tighten supply to offset the historical drop in pricing.
RFID Helps Greek Provider Track Freight Cars on Nation's Railway
TrainOSE, Greece's rail service provider, is employing a radio frequency identification-based solution to track freight cars. While the company is still reviewing the results since the system was taken live last year, it has already determined that the technology is reducing rental costs for cars that should be returned to third-party owners.
How Pratt & Whitney Is Doubling Jet Engine Production in Five Years
The aerospace giant Pratt & Whitney plans to double production of a new and innovative jet engine by 2020. Proper supply-chain management will play a huge role in the success of the venture.
Lufthansa Cargo Takes Over Time:Matters; Debuts MyAirCargo Service
Lufthansa Cargo has assumed complete ownership of the time:matters Group, a specialist in global same-day delivery and time-critical international spare-parts logistics.
It's Time to Renew Your Freight Broker Bond
Since the changes in the freight broker bond requirements introduced by the MAP-21 legislation back in 2013, autumn has turned into the bond renewal season for the freight industry. In the next few months, about two thirds of the nearly 17,000 licensed freight brokers are expected to undergo the yearly surety bond renewal.
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