Briefs
Staff -- Purchasing, 3/18/2004 2:00:00 AM
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While most of the talk about ocean freight rates involves words like "skyrocketing" and "through the roof," one industry analyst sees ocean rates dropping next year. William Hall, president of Seaport Consultants, told a U.S. Grains Council Conference that freight rates should ease next year "after going through the roof" as more Panamax-size vessels are sent out. "There was a spiking of older vessels in 1997-98, and again in 2001, which really impacted the structure of the world fleet. At the same time, there was relatively little new building in the 1990s, so supply contracted in late 2000 and into 2001," Hall said. He added that Chinese demand for iron ore, used to make steel, would continue to be strong this year, but the surge in Panamax orders late last year will be coming on stream in 2005 to increase capacity. "There is a general consensus things will improve in 2005, The question is: Will they improve in late 2004," he said
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Stonepath Group completed its acquisition of a majority interest in Chinese freight forwarder Shaanxi Sunshine Cargo Services for $11 million. Shaanxi provides global freight forwarding, warehousing and distribution, shipping services and special freight handling.
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Robinson Worldwide acquired Camway Transportation, a Toledo, Ohio-based nonasset-based 3PL that provides domestic truckload and intermodal transportation brokerage services.
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SCS Transportation acquired Clark Bros. Transfer, a Midwestern LTL carrier operating in 10 states. The operations of Clark Bros. will be integrated into SCS' Saia unit later this spring.
Bulk Freight Rates Sink
10/15/2009Ocean freight rates continue to stabilize
04/18/2006Bulk ocean freight rates continue up
03/12/2009Ocean freight rates may drop in 2009
06/03/2008
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