Daily Archives: August 5, 2012

CaroTrans Adds Direct Seattle to Japan LCL Export Service to Extensive Global Service Network

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Clark, New Jersey, July 24, 2012 – CaroTrans, a leading global NVOCC (non vessel operating common carrier) and ocean freight consolidator, today announced a new, direct LCL export service from Seattle to Tokyo which broadens their already sizable U.S. – Japan import and export LCL and FCL service portfolio. This direct service offers an industry best overall 13 day transit to Tokyo, Yokohama in 14 days, and Osaka, Nagoya and Kobe in 18 days. It features weekly service, fixed day cutoffs and there is no transshipment via Busan, South Korea.

CaroTrans has established a strong service network in the U.S.–Japan trade region in partnership with Seino Logix, an NVO based in Japan. Over the last 13+ years, their collaborative relationship based on a commitment to customer-focused, reliable and secure consolidation and deconsolidation services has resulted in a strong share of market in this trade.
“We are committed to increasing our scope of services to include more direct, expedited transportation solutions to ensure our forwarder customers have the services they need to address the supply chain requirements of their clients. With Seino Logix as our partner in Japan and in the U.S., where four of their representatives are based, we will continue building out our U.S.-Japan service portfolio,” said Greg Howard, CaroTrans, Global CEO.

Norihiro Hisanaga, Japan Trade Manager, Seino Logix Co., Ltd., based in CaroTrans’ Los Angeles office, said, “This new Pacific Northwest service to Japan adds service flexibility and increased options for transpacific supply chains. With CaroTrans, we offer reliable, value-added services and the highest level of support for our global forwarder clients.”

Over the last six months, CaroTrans has added five direct LCL and FCL import and export services to its global service network to provide secure, cost efficient and expedited services to the global freight forwarding community. The new services include: Houston and New York export to Cartagena, Colombia; Miami to Itajai, Brazil export; Charleston to South Africa export, and Los Angeles – Vietnam import/export.
About CaroTrans
Established in 1979, Carotrans International is one of the world’s leading NVOCCs providing global LCL, less than container load, and FCL, full container load services. Through our network of offices in Asia, South America, Oceania, and the United States, along with our strong local partners, we offer a global reach that is truly unique. Carotrans is a people driven company with dedicated, experienced and knowledgeable team members who engage customers with passion and experience on a local level.

CaroTrans, Greg Howard, 732-540-8121, gregh@carotrans.com
CKL Communications, Carol Lerner, 973.635.6923, ckl.communications@gmail.com

Zero carbon parcel shipping from DPD goes live

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From now on all parcels sent via DPD UK  will be shipped carbon neutral – at no extra charge to the customer. Total Zero, DPD’s new carbon neutrality commitment, applies to all domestic and international shipments from six major markets in Europe.

Total Zero

Total Zero will be available to all customers in France, Germany, United Kingdom, Netherlands, BeLux and Switzerland at first and it is anticipated that other DPD business units across Europe will begin providing Total Zero from 2013.

“We are proud and excited to officially launch Total Zero in the UK. DPD has been preparing for this moment for some time now and I am sure that our customers will be delighted to know that we are now delivering carbon neutral parcels at no extra charge.” says Dwain McDonald, CEO of DPD in the UK.

The Total Zero carbon neutral commitment is achieved through a triple mechanism: measuring emitted carbon, reducing the carbon produced by DPD – called insetting – and subsequently carbon offsetting.

Total Zero came about because, as a company, we wanted to take responsibility and reduce our impact on the planet. We believe that responsible delivery means being carbon neutral so we are not passing on any extra costs to our customers. We are convinced that this marks an exciting new chapter in our company’s history and we hope that carbon neutral shipping at zero extra cost will one day become the standard across the industry”, Mr McDonald adds.

DPD’s parent company GeoPost will offset non avoidable CO2 emissions – initially 550,000 tonnes for the year – through a series of offsetting projects chosen in partnership with well-known French offset partner CDC Climat.

These include international projects such as reforestation in Columbia or introducing biodigesters to rural farming communities in Cambodia, alongside European-based initiatives.

All of the selected projects are accredited with globally recognised carbon standard certifications such as Voluntary Carbon Standard (VCS) which measure project emission reductions; Gold Standard (GS) certificate, awarded by the Gold Standard Foundation to premium carbon mitigation projects, Joint Implementation – United Nations Framework Convention on Climate Change (UNFCCC); and the CCB Standards by the Climate, Community and Biodiversity Alliance.

In launching Total Zero DPD is committing to keep reducing its environmental impact through introducing a range of emission reduction initiatives – called insetting – which will collectively help reduce CO2 emissions.

DPD’s carbon footprint has been calculated regularly since 2006 and DPD has been reducing its carbon footprint per parcel over time.

Total Zero will apply to business and consumer shipments to all destinations around the globe from the six major markets of France, Germany, United Kingdom, Netherlands, BeLux and Switzerland.

Further information on Total Zero is available at www.dpd.com/totalzero
About DPD 

With the shipment of 2.5 million parcels a day DPD is a leading international provider of parcel and express services. The company has the most efficient road network in Europe and delivers to 230 countries worldwide. Customers can choose services from an extensive product range of national and international parcel and express services for business and home deliveries. A workforce of 24,000 and 18,000 vehicles operate at more than 800 locations. The majority shareholder in DPD with 83.32 % shareholding is the GeoPost Group, a wholly-owned subsidiary of French Groupe La Poste. With a consolidated turnover of 3.668 billion euros in the year 2011 GeoPost is currently Europe’s second-largest provider of express parcel services.


About CDC Climat

CDC Climat is Caisse des Dépôts subsidiary launched in 2010 to tackle climate change by taking action in three areas: investment in carbon assets, development of services to a low carbon economy and research into climate change economics.
Press contact:

Gordon, Liz or Jason at MAW Communications (www.mawcomms.co.uk) on 01603 505 845.

TTS, LLC Awards AAA Cooper 2011 LTL Carrier of the Year Award

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TTS, LLC, a leading agent-based supply chain and logistics company headquartered in Frisco, Texas, honored AAA Cooper Transportation with the 2011 LTL Carrier of the Year Award at a celebration dinner on July, 19, 2012.

AAA Cooper Transportation was selected based on four criteria: creative solutions to the TTS customer base, on-time delivery, technology capabilities and overall customer service. After the selection was narrowed down to the top 10 LTL carriers, the TTS national agent network voted for the “Best of the Best”.

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Reddaway Professional Drivers Win Truck Driving Competitions in Utah and Nevada

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CLACKAMAS, Ore., Aug. 3, 2012 /PRNewswire/ — (NASDAQ: YRCW) — Two Reddaway professional drivers have won top honors for safe-driving skills in the states of Utah and Nevada. Joe Kwiatkowski placed first in the flatbed class at the Utah Truck Driving Championship. Scott Rideout placed first in the twin trailers class at the Nevada State Truck Driving Championship.

Kwiatkowski and Rideout will go on to compete in the 2012 National Truck Driving Championships in Minneapolis on August 7-11.

Kwiatkowski has competed in the twin trailers and flatbed classes at state driving contests for the past six years. His win in the flatbed class qualifies him for his first-ever trip to nationals. A professional driver for over 22 years, Kwiatkowski has worked for Reddaway for 19 years. He has logged over one million consecutive safe-driving miles and 16 years without an accident. Kwiatkowski is a linehaul driver based at the Reddaway terminal in Saint George, Utah.

Rideout, who has worked for Reddaway for two years, has logged 875,000 consecutive safe-driving miles since beginning his driving career nine years ago. He is a linehaul driver at the Reddaway facility in Reno, Nev. and a member of the terminal’s safety committee.

Reddaway drivers are encouraged to use driving competitions as a way to sharpen their safe-driving skills. “Skilled, safety-committed drivers like Joe and Scott are what allow Reddaway to remain regional leaders in on-time, claim-free shipping. We are proud and thankful to have these superb service-minded professionals on our team,” said Dave Yonemoto, director of safety for Reddaway.

To qualify for the national championships, drivers must place first in their respective class at state competitions. Both the state and national competitions include challenging driving skills and maneuvering tests, a pre-trip inspection, and a written examination covering vehicle operation and federal safety regulations. To participate in the state competitions, drivers must be accident-free for one year.

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New report underlines Daily Maersk reliability

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A new research report confirms the Asia-Europe product ‘Daily Maersk’ is a powerful differentiator for Maersk Line as it continues to lead global container shipping lines in reliability.

The report, a joint effort between ecommerce network provider INTTRA and container shipping analyst SeaIntel, examined the performance of the top 20 container lines in schedule reliability.

In the past year, Maersk Line has been the No.1 carrier in eight of the months and No.2 for four. The report also highlights, among others, the effect of Daily Maersk on Maersk Line’s June reliability, a month when many carriers saw reliability dip.

“Maersk Line reached a 98% on time performance to North Europe in June, which is the highest performance seen in 2012 of any carrier, which clearly shows not only their commitment to the ‘Daily Maersk’ concept, but also their operational capability of actually delivering it,” reads the report.

The significance of the June performance is that it marks the end of a three-month period known for the lack of reliability from shipping lines.

Daily Maersk achieved 97% reliability in this period, a result that Maersk Line’s Vincent Clerc says emphasises the value of the product.

“This year has been a bit special,” says Clerc, Maersk Line’s chief trade and marketing officer. “Many carriers have adjusted their networks after the Chinese New Year as they phased in new cooperation, such as the G6 or the cooperation between MSC and CMA. It has been a tough time for customers, but overall the product offering on Asia-Europe will be greatly enhanced as a result. I guess it is another positive impact for Daily Maersk.

“For Maersk Line though the situation is a bit different. The Daily Maersk product is designed to be stable. We are mapping network changes in advance, so no matter how much we slow down the vessels or alter port calls or vessel rotations, the customer doesn’t feel it. Reliability is something customers must experience consistently and we are happy to see through these numbers that we are able to deliver this better than anybody else.”

After nine months of operation, Daily Maersk continues to deliver on its promise of daily sailings and guaranteed reliability, averaging about 97% since inception.

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Orient Overseas (International) Ltd Announces 2012 Interim Results

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Group Turnover increased by 7% to US$3,122 million
• Profit Attributable to Equity Holders of US$117 million
• Earnings per share of US18.6 cents
• Interim Ordinary Dividend of US4.66 cents (HK36.3 cents) per share

Financial And Operational Highlights

• Operating profit decreased by 26% to US$140 million
• OOCL liftings increased 6.1% to 2.6 million TEUs
• OOCL Freight Revenue per TEU was down 1.0%
• Liquid Assets exceeded US$2.5 billion as at 30th June 2012

Orient Overseas (International) Limited and its subsidiaries (the “Group”) today announced a profit attributable to equity holders, after tax and non-controlling interest, of US$116.8 million for the six-month period ended 30th June 2012 compared with US$175.0 million for the same period in 2011.  The 2012 interim result represents a US$58.2 million or 33% decrease in earnings from comparable activities.

The profit after tax and non-controlling interests attributable to equity holders for the first six months of 2012 included dividends from Hui Xian Holdings Ltd amounting to US$42.6 million and a US$5.0 million upward revaluation of Wall Street Plaza.

Earnings per ordinary share for the first half of 2012 was US18.6 cents, whereas earnings per ordinary share for the first half of 2011 was US28.0 cents


The Board of Directors is pleased to announce an interim dividend for 2012 of US4.66 cents (HK36.3 cents) per ordinary share. The dividend will be paid on 15th October 2012 to those ordinary shareholders whose names appear on the register on 6th September 2012.

The Chairman of OOIL, Mr. C C Tung, said, “The first half of 2012 has been challenging with very low market freight rates at the start of the year, low demand growth on the east-west trades, and a spike up in bunker fuel prices in early January.  Fortunately there has been a marked improvement in freight rates, particularly on the Asia-Europe services, to offset the low growth in demand on the East-West trades.  Despite this recovery in rates, trading conditions have been, and are likely to remain, difficult and volatile given prevailing economic conditions and the continuing surplus of capacity on the major trades.”

“While facing low demand growth, mirroring sluggish economic activity in key consumer markets, the industry has had to absorb over 110 new container ships in the first half of the year.  The pressure from the delivery of new-build capacity will continue, and the industry’s ability to absorb and judiciously deploy capacity will be key to stability for both the rest of this year and for the next few years to come”, said Mr. Tung.

OOCL’s total lifting for the first half year increased by 6.1% and total revenue increased by 5.0% compared with corresponding period in 2011.  The decline in average revenue seen in 2011 has stopped and average revenue started to recover in March, notably for Asia to Europe business.

During the first half of 2012 no new-build vessel was delivered and no orders for new vessels were placed.  The Group exercised a purchase option under a long-term charter of the 5,770 TEU vessel ‘OOCL Shanghai’ in January 2012.  A 16-year-old 5,344 TEU vessel ‘OOCL Hong Kong’ was sold at end of June 2012 and leased back from the new owner for 3 years on a time-charter basis.  Another 16-year-old 5,344 TEU vessel ‘OOCL China’ was sold in early July and was also leased back from the new owner for 3 years on a time-charter basis.

Mr. Kenneth Cambie, the Group’s Chief Financial Officer, noted that “OOCL has been fortunate during this period of low demand growth in not having any new-build vessels delivering.  The first of our new mega 13,200 TEU container vessels, which are expected to deliver significant operating cost efficiencies, delivers at the start of next year.  With the next delivery of our 8,888 TEU vessels also not due until next year, any capacity growth for us in the second half of the year will come from the charter market.”

Wall Street Plaza continues to perform in line with expectations, and based on an independent valuation, it has been re-valued upwards by US$5 million as at 30th June 2012 to reflect an assessed market value of US$165 million.

Following the successful floating of Beijing Oriental Plaza via a Real Estate Investment Trust (“REIT”) last year, the value of our 7.9% investment in the project is now largely dependent on the market value of the REIT units ultimately owned by Hui Xian Holdings Ltd.  In the first half of 2012, Hui Xian Holdings Ltd declared dividends, in forms of both cash and Hui Xian REIT units, to its shareholders, of which the Group’s share amounted to cash of US$7.9 million and Hui Xian REIT units valued at US$34.7 million.  As at 30th June 2012, the Group’s investment in Hui Xian Holdings Ltd was valued at US$99.0 million, a drop of US$29.3 million from 31st December 2011, mainly a result of distributing the REIT units to its shareholders.

Mr. Tung commented on the outlook in the container shipping market, “Prospects of a strong third quarter, the traditional peak season for container shipping, have dimmed a little of late as a result of the poor economic data from the major consumer markets.  A large number of mega-ships have still to deliver in the second half of the year and deployed capacity will need to adjust quickly to meet demand levels if freight rates are to be maintained in the seasonally weaker fourth quarter.”

“Despite limited ordering of new vessels over the last twelve to eighteen months, the industry needs to absorb an estimated 2.4 million TEU of new-building capacity, which is about 15% of the current global capacity, over the next eighteen months.  Given the substantial new-build capacity still to deliver, and with ongoing weak demand growth, volatile fuel prices, and fragile freight rates, continued discipline in capacity deployment and cost control will be needed for the industry to rebuild stability toward profitability.  Nevertheless, the need to meet higher operating costs, and in particular high fuel costs, has seen freight rates improve this year, and it is hoped that they will now remain at these more reasonable levels”, said Mr. Tung.

Mr. Tung concluded, “Putting aside the non-recurring items at the OOIL level, the performance of the liner and logistics business has been credible in the face of the difficult trading conditions experienced.  OOCL’s positive operating margin for the first half was adversely impacted by the unexpected increase in bunker fuel, but the recent fall in the price of crude oil, if it holds, should see an improvement in that margin to more appropriate levels.  But, fundamentally, margins will remain volatile, and likely thin, until supply and demand rebalance.”

As at 30th June 2012, the Group had total liquid assets amounting US$2,527.5 million and a total indebtedness of US$2,812.1 million.  Net debt as at 30th June 2012 was therefore US$284.6 million compared with US$259.1 million as at the 2011 year-end.

Mr. Cambie noted that, “The increase in net debt in the first half of 2012 was mainly a result of stage payments made for newbuilding orders.  The Group continues to have sufficient borrowing capacity and remains comfortably within its target of keeping its net debt to equity ratio below 1:1.”

OOIL owns one of the world’s largest international integrated container transport businesses which trades under the name “OOCL”.  With more than 270 offices in 60 countries, the Group is one of Hong Kong’s most international businesses.  OOIL is listed on The Stock Exchange of Hong Kong Limited.

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