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Evergreen Line has signed a terminal service agreement with APM Terminals Virginia, to facilitate the relocation of one of the shipping line's services from Virginia Intermodal Terminals' (VIT) Portsmouth Marine Terminal, to APMT's new Portsmouth facility.

Soyuztranslink (STL), one of Central Asia's fastest growing forwarding and logistics companies, plans to build bonded warehouses and an intermodal terminal at the Kazakhstan town of Khorgos, on the Chinese border, according to a company statement.

The week-long truckers strike over soaring fuel costs has ended after a compromise was reached between drivers and freight owners and container transportation companies on haulage rate hikes, reported The Korean Times.

The world's largest container shipping line by fleet size, Denmark's Maersk Line has signed a 10-year agreement for the carrier to use the Trinity Terminal at the UK Port of Felixstowe.

Cosco is adding Prince Rupert to the shipping line's existing CEN service, doubling its weekly calls, beginning with the 5,400 TEU Cosco Hong Kong on July 5.

Karachi Port Trust (KPT) cargo handling has registered a record growth of 25 percent this year as KPT is handling over 101,000 tonnes of cargo daily and has crossed the figures of 37 million tonnes.

Daehan Shipbuilding has celebrated today the christening of its first vessel at its shipyard located in Haenam, Korea.

Nobody of the 25 crewmembers and four passengers aboard the burning vessel in the Sea of Japan was hurt, Itar-Tass reports. The transport refrigerator Akademik Khokhlov is drifting near South Korea's coast. The crew continued fighting the fire, according to reports as of Friday morning, Moscow time.

The terminal operator Finnsteve will during the summer take delivery of four Post-Panamax container cranes from Kalmar Industries for their container terminal in Helsinki's new Vuosaari port, which will be operational in November 2008.

Gazprom Neft's audited annual net profit under RAS grew 26.5 percent, from RUB 62.83bn (approx. USD 2.66bn) in 2006 to RUB 79.5bn (approx. USD 3.37bn) in 2007, the Russian energy giant's oil arm stated in a report approved during today's annual general shareholders meeting.

Paragon Shipping Inc., a global shipping transportation company specializing in drybulk cargoes, announced yesterday that it has entered into an agreement with an unaffiliated third party to acquire a 2008-built Supramax drybulk carrier. The vessel, to be named the Friendly Seas, has a capacity of 58,779 dwt and will be purchased with a timecharter attached at $55,000 per day for a period of 10 to 12 months to Irika Shipping, who, in turn, have chartered the vessel to Cargill on identical terms.

One more vessel was added to the Hellenic registry during April of 2008, according to the National Statistics Agency, bringing the total number of ships flying the country's flag to 2,061. These vessel represent a total capacity of 38,473,995 tons, versus 38,364,352 in March. A decline of four vessels was noted in the dry bulk fleet, which stood at 626 in April . In terms of capacity the bulkers registered during April provided a total of 14,811,252. The number of tankers now is 512 with a capacity of 21,994,650 tons, against 509 tankers of 21,838,203 tons. As for the rest of the fleet (passenger ships and other types), they were increased by two at 923 vessels with a total capacity of 1,726,637 tons, while the figures for the month before were 921 ships of 1,714,897 tons.

U.S. logistics costs rose 7 percent, or $91 billion, to a record high of $1.4 trillion in 2007 driven largely by soaring fuel prices and extra costs to hold slow turning inventory in a soft economy, according to an annual report that tracks trends in logistics spending.

The Consumer Electronics Association on Wednesday lauded Taiwan for filing a WTO complaint over tariffs the European Union imposes on technology products.

A nationwide strike by South Korean truckers has all but shut down the East Asian nation's ports and cargo movement, the Korea Herald reported Friday.

Perkins Logistics of Noblesville, Ind., which provides specialized transportation services for the office furniture, store fixture, home cabinet and trade show exhibit industries, has purchased the assets and ongoing customer relations of Vogel Specialized Hauling, Inc. Headquartered in Indianapolis, Vogel Specialized Hauling provides time-sensitive transportation for products requiring flatbed, heavy haul and over-dimensional serving the retail construction, roads and bridges, mining and racing industries.

A former U.S. trade negotiator, who served with both Reagan and current Bush administrations, recommended to lawmakers that in the future any trade preference programs should help tie exporters in least developed countries into the global supply chain.

The U.S. economy is besieged by too many negative factors and is poised for negative growth in the second quarter, the National Association of Manufacturers forecast on Thursday.

Andrew D. Jones will join CorTrans Logistics as executive vice president of business development.

Taking X-ray type images and radiation reads of every container bound for the United States only makes sense for a limited number of foreign ports, fails to capture transshipped cargo and presents enormous implementation costs for governments and industry, Bush administration officials said Thursday.