In order to provide our customers with the most current information available, the Phoenix News Summary is emailing industry news updates. Our summaries can also be read via our web site, www.phoenixintl.com, on the Industry News page.

Many Asian companies will be closed all or part of the week of May 1- 8, for Labor Holidays. Please note that there may be resulting shipment and delivery delays.

British Airways World Cargo on Thursday announced it was increasing its fuel surcharge to 55 cents per kilogram as of May 11.

CBP to automate C-TPAT process - American Shipper - Importers and transportation providers in May will be required to use a Web-based portal to communicate with U.S. Customs and Border Protection about their participation in the Customs-Trade Partnership Against Terrorism, a voluntary supply chain security program. CBP announced this week that companies seeking to enter the program will submit their application and security profile through the new security portal, while existing companies will also use the site to periodically update their profile, submit questions and receive security alerts and other information through the Internet-based system.

Importers and carriers will have until July 1 to update their account information, while marine terminals, transportation intermediaries, and foreign manufacturers must comply with the new requirements by Aug. 1. Failure to comply will result in a company being denied C-TPAT benefits for reduced inspection levels and being kicked out of the program, CBP said.

Puerto Rico faces shutdown – JOC - A financial crisis in Puerto Rico could threaten the island's logistics operations. The Associated Press is reporting that the government will run out of cash May 1 and plans to close all government offices at that time "except for essential services, such as police and hospitals."

Shippers driving further consolidation of liners, terminals – JOC - "Consolidation of shipping lines will continue because of the lower costs and greater reliability they can achieve," said Adolf Adrion, chief executive of Hapag-Lloyd Container Line, which itself just completed a merger with CP Ships. "Mergers and acquisitions are an integral part of the industry and an increasing market share will be held by the top 10 container lines," said Adrion. Over the past 15 years the top 10 terminal operators have taken control of an increasing share of global container port throughput, so that by 2004 they controlled over half of the world total. Despite their growing control it is unlikely that the biggest terminal operators will be able to exploit their market share to raise tariffs in any single port. If they do carriers will quickly relocate to other ports.

Investors move as Hyundai becomes latest takeover target – JOC - Hyundai Heavy Industries Co. Ltd. has acquired an 18.4-percent stake in Hyundai Merchant Marine for $352 million, part of a strategy to protect the South Korea's second-largest shipping line from a hostile takeover bid by foreign investors. The transaction comes after a firm controlled by Norwegian shipping magnate John Fredriksen became Hyundai Merchant's largest shareholder.

Our summary articles are compiled from a number of public sources that, to the best of Phoenix’s knowledge, are true and correct. In the event any information provided is erroneous, Phoenix International Freight Services, Ltd. accepts no liability or responsibility.