Wednesday’s story, “Air freight market heats up as West Coast port congestion worsens,” incorrectly identified UPS as the world’s largest cargo airline. FedEx is the largest and UPS is second, in terms of the industry metric of freight ton kilometers, according to the International Air Transport Association.
Earnings were buoyed by a 50 percent increase in Maersk Line profit.
The third-party logistics provider announced record results, including a 6.1 percent increase in net profits from 2013.
The transportation advisory firm said 2014 container volumes rose 5 percent on the westbound transpacific and 9 percent from Asia to Europe, but all North American export lanes struggled.
The ocean liner carrier said business improved across the board.
The cargo consolidator said it will reduce less-than-container load transit times between Rotterdam and St. Petersburg by 11 days.
Supply chain software provider JDA surveyed 255 executives globally and found that fewer than half currently use inventory optimization and transportation management technology.
Cargo delays will continue, but air freight option has to be balanced against skyrocketing prices, UPS officials say.
Hyster Company delivers first Tier 4 container handlers to Port of Los Angeles, Finnair Cargo partners with IAG Cargo and smartphone manufacturer Xiaomi selects CEVA to manage its e-commerce distribution center in Malaysia.
Southern California ports plan continued cooperation to get containers moving.
FTR Associates predicts high long-haul truck rates as shippers try to rush goods to rest of country.
Important functions, initiatives at CBP, other agencies will be curtailed without appropriation bill.
Union reponds that ICTSI is blaming others for its own mistakes.
NYK completes first voyage of car transport service from Mexico, while Old Dominion expands in South Dakota and Finnair joins IAG’s Partner Plus.
ILWU, PMA agree to transform arbitration system, labor secretary says.
DB Schenker has picked a new Americas CEO and former Port of Portland marketing manager moves over to Oregon’s dairy commission.
U.S. Labor Secretary Thomas Perez announced Friday night the dockworkers’ union and its employers reached agreement on a new five-year contract.
Changes include minimum insurance requirements for railroads and a fund financed by levies on crude oil shippers.
Virginia Port Authority lost $1 million in January, but is in the black for fiscal year.
January container volume at Charleston grew 18 percent
