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Panalpina reports increased airfreight volume, continued slump in ocean freight sector

Switzerland-based forwarder Panalpina released its financial results for the first quarter of the year, reporting increases in overall profitability, with earnings before interest and taxes (EBIT) up in its Air Freight and Contract Logistics divisions, but down in its weakening Ocean Freight division. Overall EBIT came in at US$25 million, a

NSC Orders Multinational Shipping Companies to make refund within 4 days of return of empty containers or stop collection of Deposit also demanded stoppage of indemnity being demanded from customs agents and a waiver of demurrage caused by the gridlock on the roads leading to the Lagos ports as a matter of national interest. Following complaints from shippers about their nightmare over container deposit, the Nigerian Shippers Council (NSC), the ports economic

Giant Cruise Ship Smashes Into Dock in Honduras

Giant Cruise Ship Smashes Into Dock in Honduras. Getty image The arrival of cruise ship MSC Armonia came as a surprise, as she ran into the Port of Coxen Hole in Honduras on April 10. The port is located on the island of Roatan, known for its beaches and dive sites. Tania Connor was able to capture the Armonia as

Rising Opposition to Cargo Palletization

Eromosele Abiodun examines maritime stakeholders’ resistance to the federal government’s directive that all containerized cargoes coming into Nigeria must be on a pallet In late 2017, the federal government directed all containerized cargoes coming into Nigeria to be on a pallet as effective January this year. The Minister of Finance, KemiAdeosun

Nigerian’s Maritime Agencies disregard presidential directive to charge fees in local currency

Despite a presidential directive to Nigerian Ports Authority (NPA) and the Nigerian Maritime Administration and Safety Agency (NIMASA) to suspend further collection of petroleum products imports charges in dollars, Daily Sun findings have revealed the two agencies have continued to disregard the government order. According to a letter dated January 17, 2018,

Panalpina profits soar on record airfreight volumes

The Swiss-based freight forwarder reported net earnings of 57.5 million Swiss francs (U.S. $60.6 million) on CHF 5.53 billion in net forwarding revenues during 2017, year-over-year increases of 9.9 percent and 6.5 percent, respectively. Panalpina saw its consolidated profits jump 9.9 percent to 57.5 million Swiss francs (U.S. $60.6 million) during

Seaport of NY/NJ growth continues in January

The largest port on the U.S. East Coast handled 585,864 TEUs during the month, the most of any January in port history, according to the most recent data from the Port Authority of New York and New Jersey (PANYNJ). The Port of New York and New Jersey handled 585,864 TEUs in

Nigerian Seaports Record 10% Lower Ship traffic Over Govt’s Unfavourable Policies; Air Passenger Traffic Fell 8% to 13.4M in 2017 – NBS

  the inability of importers and exporters to secure foreign exchange to transact their business and insecurity in Nigeria's coastal waters were major factors.  arrivals and departures air passengers nearly evened out at 6.7 million and 7 million respectively. The fortunes of Nigeria's seaports have continued to dwindle following the

Maersk vessel catches fire in Arabian Sea

  The 15,226-TEU Maersk Honam experienced a serious fire in one of its cargo holds Tuesday in the Arabian Sea, One dead, leaving four crew members still missing. Amidst concerns over its Saturday night's loss of 70 or more containers onboard its container ship, Maersk Shanghai, in rough seas caused by stormy weather off North Carolina, the world's largest