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.
In the wake of the downing of Malaysia Airlines flight MH17, the International Civil Aviation Organization will convene a task force to study the issue of international aviation safety in conflict zones and how to better share safety data among stakeholders. ICAO also pledged to submit the findings of the senior-level task force […]
A senior U.S. Commerce Department official told a group of exporters attending a conference in Washington Tuesday that while recent reforms to the country’s export control regulations should make it easier for them to market their goods to companies in countries friendly to the United States, it doesn’t mean they should soften on their […]
Florida’s Port Manatee has been awarded a $1,837,500 security grant, allowing it to move ahead with three projects. The award, the second-highest for any Florida port in the latest round of grants offered by the Federal Emergency Management Agency, allows full funding for each of the projects named in the port’s request, which […]
Carrier Transicold has released its new XtendFRESH atmosphere control system, which preserves quality and extends shipping distances for perishables shipped in refrigerated containers. The system uses a self-regenerating, activated-carbon scrubber assembly to control oxygen and carbon dioxide and remove ethylene, a hormone given off by ripening produce that will accelerate ripening if left […]
For years, Jeanne Shaheen, D-N.H., and Pat Toomey, R-Pa., along with Sen. Mark Kirk, R-Ill., have led a bipartisan effort to reform the U.S. sugar program, which has cost consumers an estimated $14 billion since 2008.
Kenny E. Toy, 54, a former afloat programs manager at the U.S. Navy’s Military Sealift Command, was sentenced Tuesday to serve 96 months in jail for taking bribes. On Feb. 12, Toy pleaded guilty to one count of bribery. For five years starting in November 2004, Toy had been involved in a […]
Horizon Lines reported a loss of $1.6 million in its second quarter, which ended June 22, compared with a loss of about $900,000 in the second quarter of 2013. Earnings before interest, tax, however, was higher — $29.5 million in the second quarter, compared with $28.8 million in the same 2013 period. The […]
The U.S. Commerce Department’s Bureau of Industry and Security is further restricting trade with Russia in response to the country’s continued support of separatists in eastern Ukraine. In specific, the agency will institute a policy denying export, re-export or foreign transfer of certain items for use in Russia’s energy sector that may be […]
While BNSF and Canadian Pacific have been focusing on creating more capacity for grain shipments at the behest of the Surface Transportation Board, Senators from the Midwest have raised concerns that grain capacity is still not sufficient. At the same time, coal shippers are seeing reduced capacity. In a letter to the STB, […]
