The Chilean shipping company CSAV said Monday it has raised $108 million through the sale of shares in the first part of a previously announced rights offering. The company is seeking to raise a total of $202 million and will offer the remaining shares next week to shareholders in a second pre-emptive rights period […]
Bigger consortia and alliances among container carriers will allow carriers to use assets more efficiently, meaning they are likely to “better fine tune vessel capacity to seasonal cargo demand,” according to Drewry. In the most recent issue of its Container Insight Weekly, the London-based consultant wrote, “The balance between supply and demand in […]
Hervé Montjotin, Norbert Dentressangle’s CEO, said the deal “is a key milestone in Norbert Dentressangle’s development strategy to become a top-tier player in global supply-chain management.”
The president and chief executive officer of Xcel Energy, Ben Fowke, Thursday sent a letter to the STB outlining his “concern over the ability of the BNSF to deliver sufficient coal to our electric generating stations.”
PostNL, which holds a more than 14.5-percent stake in TNT Express, saw revenue increase by 3 percent, year-over-year, during the second quarter, finishing the period at 1.02 billion euros. Operating income jumped by 137 percent, year-over-year, to 85 million euros. Net profit for the period increased to 44 million from 3 million during […]
Hewlett-Packard Co. has agreed to pay $32.5 million to settle allegations under the False Claims Act that it overcharged the U.S. Postal Service for products between October 2001 and December 2010, the Justice Department said Friday. The U.S. government alleged that despite a contract agreement, HP overcharged USPS by failing to comply with […]
Maersk said Friday it will implement a general rate increase for container shipments moving from Asia to the United States and Canada, effective September 1. Maersk said it will increase rates by $480 for 20-foot dry containers, $600 for 40-foot standard dry container, $675 for 40-foot high cube dry containers, $760 for 45 […]
FMCS said in a statement issued Monday morning that bargaining that began last Wednesday continued during the weekend with assistance from FMCS Acting Director Scot Beckenbaugh.
The tunnel is expected to shave 25 minutes from a port shuttle truck’s round trip to the port, making it possible for drivers to add at least one more revenue-bearing trip to their 11-hour driving day.
London-based consulting firm Drewry said this contrasts with the preceding five years (2004-08), when operators’ fleet growth outpaced that of the lessors.
When the plant opened in 2011, Boeing said it was diversifying its supply chain, but the machinists’ union charged the company with trying to intimidate it by moving production to a right-to-work state.
The TFA was part of a package of agreements approved at the WTO’s meeting seven months ago in Bali, Indonesia. The agreement, focused on trade facilitation, was expected to reduce trade costs, especially for developing countries.
The European Commission has selected 106 transportation projects across Europe to receive more than 320 million euros as part of the trans-European transport network (TEN-T) Programme Calls. Under the 2013 Multi-Annual Programme Call 52 projects received 230 million euros in funding. Of those projects, 10 are part of the European Rail Traffic Management […]
Longtime Target transportation executive Rick Gabrielson told American Shipper Thursday that he is taking a vice president role in transportation with the home improvement retailer Lowe’s.
The company’s ocean transportation business had revenue of $321.1 million in the second quarter of 2014, a 3.6-percent increase, year-over-year, but it had a 4.4-percent decrease in operating income over the same period.
OOCL officially opened its new management and strategic center in Salt Lake City this week; staff from its U.S. headquarters in San Ramon, Calif., as well as offices in Chicago, Memphis and New York have started to move in. Last year, the Utah Governor’s Office of Economic Development said that OOCL was expected […]
“For a company that almost failed several times in recent years, we view the Q2’14 performance as a step in the right direction,” Thom Albrecht of BB&T Capital Markets said. “The stage is set for a return to profitability during 2H’14.”
During the second quarter, IAG Cargo’s revenue fell, year-over-year, from 271 million euros ($363.98 million) to 238 million euros. IAG experienced a 5.1-percent decrease in cargo volumes, year-over-year, on a 5.6-percent decline in capacity. Cargo yield dropped by 7.4 percent. Officials noted that these declines were due to a “significantly reduced freighter program” […]
The U.S. Congress ended a legislative game of ping-pong over highway and transit funding when the Senate late Thursday cleared a short-term extension of the current surface transportation act. The vote forestalls what was shaping up to be a crisis for states that depend on federal money to help pay for maintenance and […]
Garamendi Congressman John Garamendi, D-Calif., ranking member of the House Transportation and Infrastructure’s Coast Guard and Maritime Transportation Subcommittee, has introduced legislation that would authorize the Secretary of the Department of Transportation to develop and implement a program to promote the export of liquefied natural gas on U.S.-flag vessels. The bill would also […]
