The new warehouse is the first facility in Vietnam to provide a super frozen storage room, which reaches as cold at -58 degrees Fahrenheit.
Meanwhile, just this Friday, the Shanghai Shipping Exchange said its Shanghai Containerized Freight Index declined 6.2 percent from last Friday’s reading of 670.29 to a reading of 628.59.
William E. (Bill) Woodhour became president of Maersk Line, Ltd. (MLL) July 1 and will eventually become chief executive officer of the company, taking over from Russ Bruner, who has been president and CEO of MLL since 2014.
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The Omaha, Neb.-based trucking and logistics company released a second quarter earnings forecast well below analysts’ estimates, blaming sluggish freight demand and higher driver pay for the shortfall.
Two trade associations - the International Air Transportation Association (IATA) and the International Federation of Freight Forwarders Association (FIATA) - will roll out the new IATA-FIATA Air Cargo Program in phases, beginning in early 2017.
The massive $5.3 billion project comes with “considerable safety concerns,” which could lead to accidents and delays for shippers and higher claims for insurers, according to a new report from the London-based risk management consultancy.