Capacity in the spot truck market rose 4.7 percent during the third week of July, as reefer, van and flatbed rates dropped, according to DAT. From the second to third week of July, reefer rates dropped by 1.7 percent, van rates declined by 1.4 percent, and flatbed rates fell by 1.2 percent. This […]
Japan’s three largest shipping companies — NYK, MOL, and “K” Line — reported mixed results for the fiscal first quarter, which ended June 30 for each of the companies.
Deutsche Bank recently put Maher on the sales block. Maher operates the largest terminal in the Port of New York and New Jersey, as well as the Prince Rupert intermodal container terminal on the West Coast of Canada.
“The Chong Chon Gang episode, in which the [North Korean government] tried to hide an arms shipment under tons of sugar, is a perfect example of North Korea’s deceptive activity,” according to a Treasury official.
Hunter said Gulftainer is owned by Crescent Enterprises, based in the United Arab Emirates, and that the deal with Port Canaveral “marks the first time a Middle Eastern company will fully operate a U.S. cargo terminal.”
The two companies will introduce and utilize Ports America’s expertise, technology and safety programs at ITS gate, yard and vessel operations, and seek to expand its container terminal business.
The Port of Redwood City in Northern California reported a 19-percent increase in cargo volumes for fiscal year 2013-2014, ended June 30. The port authority said the increase reflects “a significant increase in construction in the Bay Area and the high quality of building materials from British Columbia.” The 12-month figure was […]
In 2013, UPS achieved its goal of reducing the carbon emissions of its air and ground fleet by 10 percent, a goal the integrator had been targeting for 2016, it announced with the release of its latest sustainability report. By 2020, UPS now hopes to have reduced the footprint of its air and […]
Virgin Atlantic Cargo has received 802 lightweight air cargo containers in a move to eventually replace the 3,200 containers in its fleet in a fuel-saving measure. The airline will take delivery of 250 additional LD3s in the coming weeks. Replacing 1,052 units, company officials said, will reduce the carrier’s 2014 CO2 emissions by […]
The less-than-truckload carrier Old Dominion Freight Line on Thursday said its second quarter operating income grew 25.7 percent, year-over-year, to $122.7 million. Net income for the carrier rose 26.8 percent to $73.8 million, on revenue that rose 19.1 percent to $703 million. Year to date, Old Dominion’s revenue is up 17.2 percent to […]
Crowley Maritime Corp.’s solutions group has expanded its presence in the Asia-Pacific market by opening a new project-management office in Singapore. William Hill has relocated from Crowley’s Anchorage office to Singapore, where he has assumed the position of director of business development and will manage the office. Crowley said the expansion of […]
After falling by $0.15 per kilogram in May, east-west air freight prices recovered slightly in June, moving up $0.08 to $3.30 per kilogram, according to Drewry’s East-West Air Freight Price Index. The index takes an average of what forwarders pay for a kilogram of airfreight on 21 east-west routes. Sources: Drewry Sea & […]
During the second quarter, XPO Logistics’ revenue shot up 323.8 percent, year-over-year, to $581 million, though it recorded a net loss of $13.8 million, which is a year-over-year improvement of $3.6 million.
Hanjin Shipping reported a 199.8 billion Korean won ($194.6 million) loss in the second quarter, compared to an 80.4 billion loss in the same period last year. Total second-quarter sales were 2.1 billion won, 14-percent lower than the 2.5 billion won recorded in the same 20013 period. The company did record an operating […]
The U.S. economy increased at an annual rate of 4 percent in the second quarter of 2014, compared to a first quarter decrease of 2.1 percent. The Commerce Department said the increase in real gross domestic product in the second quarter primarily reflected positive contributions from personal consumption expenditures, private inventory investment, exports, nonresidential fixed investment, […]
Liner carrier Hamburg Süd has opened an office in Nanjing, increasing its operational footprint in China to 20 locations. All tasks that were previously carried out by the Ben Line agency will in the future be taken over by the new Hamburg Süd office, including sales, customer order management and container and intermodal […]
During the second quarter, C.H. Robinson saw total revenues rise 6.5 percent, year-over-year, to more than $3.5 billion, as net income increased by 6 percent to $118.5 million. A 15.6-percent increase in truckload revenue to $305.6 million and an 11-percent increase in LTL revenue ($67.4 million) fueled the overall revenue increase. Intermodal revenues […]
The company said it has sufficient cash on its balance sheet to fund the total acquisition cost; however, it may elect to finance part of the purchase price with debt financing at terms similar to its existing debt facilities.
The Port of San Diego board of commissioners has placed Wayne Darbeau, its chief executive officer, on administrative leave and said he will be terminated at the end of the year. It named John A. Bolduc, its harbor police chief and vice president of public safety as acting chief executive officer. Citing California […]
The legislation originally was tailored to run through May to give more time to agree on a long-term bill that identifies new funding streams to supplement the Highway Trust Fund, which is supported by a per-gallon fuel tax.
