Shippers and Carriers Tread Tentatively Toward Resolution of Space-Shortage Issues, Reports The Journal of Commerce
NEWARK, N.J., April 12 /PRNewswire/ -- The highly indelicate balancing act of vessel bookings has recently tipped into something close to chaos for the container shipping industry. A proposal by Maersk Line that would charge shipper and carrier alike for overbooking will test the waters for a new approach in international goods movement.
(Photo: http://www.newscom.com/cgi-bin/prnh/20100412/NY84931 )
While resolution will take some time, carriers and exporters are focusing on better communication and getting down to repairing relationships and service disputes. In today's Cover Story, The Journal of Commerce examines how this critical relationship is changing, just as shippers and carriers head into the home stretch of perhaps the most crucial contract negotiations in decades.
Revenue for the nation's largest motor carriers dropped 17.2 percent in 2009, reports the JOC this week in its annual ranking of the Top 50 Trucking Companies. A few savvy competitors, however, used the opportunity to grow. Specialized truckload carrier Prime – No. 14 -- defied the recession and increased revenue in 2009, boosting sales 7.3 percent and adding trucks. UPS and FedEx increased their share of the revenue generated by the Top 50 carriers to 41.7 percent last year, using the scale and flexibility of their sprawling integrated ground and air networks to draw freight from LTL competitors in 2009.
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Since 1827, The Journal of Commerce has been the most trusted source of intelligence for international logistics executives to help them plan global supply chains and better manage day-to-day transportation of goods and commodities in the United States and internationally.
To become a member of The Journal of Commerce click here. JOC members have access to our weekly print and digital magazine and Web site, as well as a 10% discount on all JOC Events and trade shows, UBM Global Trade Directories and select PIERS products. Authoritative editorial content in the form of daily news, weekly analysis and regular features ensure our members have the information and data necessary to understand the issues facing trucking, rail and maritime transportation. Members enjoy access to "By the Numbers," an exclusive weekly compilation of key industry statistics that provides detailed views of current market trends across all modes. Regular market intelligence reports -- utilizing PIERS trade data -- include Top 100 Imports and Exporters, quarterly Top 40 Container lines, Transpacific and Transatlantic Maritime Forecasts and Top Container Ports and Terminals. Market-sector supplements, including Breakbulk, Cool Cargoes, 3PL, JOC Guide to Trucking and others, ensure all modes are comprehensively covered.
About UBM Global Trade - UBM Global Trade, formerly Commonwealth Business Media, Inc., has been the leading provider of proprietary data, news, business intelligence and analytical content supporting commercial maritime, rail, trucking, warehousing and logistics industries worldwide since 1827. The company's portfolio of more than 100 online, print and interactive workflow business solutions includes The Journal of Commerce, The Journal of Commerce Events, PIERS Global Intelligence Solutions and an array of international trade and transportation databases and directories. UBM Global Trade, a subsidiary of United Business Media Limited, is headquartered in East Windsor, NJ, with offices throughout the United States and in Canada and Hong Kong. For more information, explore www.ubmglobaltrade.com or call 800-221-5488 (+1-609-371-7700 outside the U.S. and Canada).
About United Business Media Limited - UBM (UBM.L) focuses on two principal activities: worldwide information distribution, targeting and monitoring, and the development and monetization of B2B communities and markets. UBM's businesses inform markets and serve professional commercial communities -- from doctors to game developers, from journalists to jewelry traders, from farmers to pharmacists -- with integrated events, online, print and business information products. Our 6,500 staff in more than 30 countries is organized into specialist teams that serve these communities, bringing buyers and sellers together, helping them to do business and their markets to work effectively and efficiently. For more information, go to www.ubm.com.
SOURCE The Journal of Commerce
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