Twenty U.S. firms will join Commerce Secretary Penny Pritzker on a trade mission to West Africa, which will visit Ghana and Nigeria from May 18-23, 2014. The trip will promote U.S. exports and expand U.S. companies’ presence in Africa by helping American firms launch or increase their business in the energy sector. The […]
To kick off Canadian rail safety week, which runs through May 4, Transport Canada announced that it will provide more than $9.2 million to improve 600 railway crossings across the country. The Grade Crossing Improvement Program upgrades crossings that see high traffic volume or have a significant accident history with flashing lights, new […]
European researchers say they have produced a glassful of solar jet fuel in laboratory conditions by using a combination of water, carbon dioxide and simulated sunlight. Next up? Create jet fuel on a larger scale at a competitive cost.
TNT Express saw first-quarter operating revenues decline year-over-year by 6.6 percent to 1.61 billion euros and operating income plummeted 92.2 percent to 17 million euros, but officials said the company’s turnaround plan was on track, as TNT Express realized 30 million euros in savings during the quarter. Officials also said they saw good […]
CIMC sold 203,200 TEU of dry containers in the quarter, a decrease of 35 percent from the first quarter of 2013, and 40,300 TEU of reefer containers, an increase of 50 percent, year over year.
Finnair Cargo handled nearly 10 percent more cargo in the first quarter than in the same period in 2013, seeing 35,220 tons of cargo during the first three months of 2014. Capacity increased by 2.2 percent, as freight revenue ton kilometers increased by 6.9 percent. “We had very strong demand on our […]
The American Road and Transportation Builders Association on Thursday released a report about the poor condition of the nation’s bridges, seemingly with the intent of putting pressure on Congress to address a looming fiscal shortfall in the Highway Trust Fund. Without Congressional help, the fund is expected to run out of money by late […]
Reuters is reporting that Neovia Logistics, formerly Caterpillar Logistic Services, is exploring a sale “that could value the company at more than $1 billion.” Reuters cites “people familiar with the matter,” saying that the sale of Neovia would come just two years after the private equity firm Platinum Equity acquired 65 percent of […]
A surplus of Panamax-sized containerships, already a creating problems for liner companies in the North-South trades where they are helping drive down rates, is likely to get worse when the larger Panama Canal locks are opened at the end of 2015, says the London-based consulting firm Drewry in the latest issue of its Container […]
Steel shipper Nucor has called on the Surface Transportation Board to take “firm and decisive action” to keep the railroad industry competitive and reliable.
Container carrier OOCL moved 1,352,050 TEUs in the first quarter of 2014, 8.9 percent more than in the same 2013 period. The results are among the first reported by a major shipping company each quarter.
Truck transportation among the United States, Mexico and Canada — the NAFTA countries — grew 2.6 percent in February, year-over-year, the most of any mode, according to the Bureau of Transportation Statistics. Those trucking moves in February accounted for 59.8 percent of the $89.6 billion in trade among the countries. Rail carried 14.7 […]
Con-way Freight has opened a $3.7-million service center in Robinson, Texas, to replace its 25-year-old Waco facility. Officials said the 18,870-square-foot Robinson center will serve Robinson, Waco and the rest of Central Texas. The facility will add 15 new jobs to the area, according to a company press release. “The Central Texas […]
COSCO said it is scrapping 12 container ships and four bulk carriers to the breakers as part of a fleet decommissioning plan. According to a filing with the Hong Kong Stock Exchange, the vessels, with the aggregate capacity of 803,087 deadweight tons, were sold as scrap at a total consideration of approximately 466.49 million Chinese […]
Worldwide piracy on the seas is at its lowest first-quarter level in seven years, with 49 piracy incidents so far this year, the lowest number since 2007, when 41 were recorded.
Shippers in Singapore said they support development of a massive new container terminal in the western part of the country. In an audacious move, Singapore, home to the world’s second-largest container port, is simultaneously undertaking a huge expansion of its Pasir Panjang Terminal while making plans to eventually relocate container operations to Tuas […]
The North American Free Trade Agreement has achieved its goal of increasing trade, lowering tariffs and making transportation more efficient during its first 20 years in force, but several trends impacting freight flows were not anticipated by policymakers who crafted the deal in the early 1990s, former transportation secretary Samuel Skinner said Thursday in […]
DP World said JBS, the Brazilian company that is the world’s largest supplier of beef and chicken, will switch all its U.K. imports from South America to DP World London Gateway, taking advantage of a new deep-sea shipping service coming into the port starting next week. The service is the River Plate Express […]
The cost of shipping air cargo on the east-west trade lane rose $.20 in March to $3.34, according to Drewry, reflecting a predicted recovery in air cargo rates after a sluggish February. According to Drewry’s East-West Air Freight Price Index, which averages the cost of one kilogram of airfreight paid by forwarders on […]
Responding to complaints about delays in hiring veterans, the New York Shipping Association and ILA said that they are “fully committed to implementing the hiring plan as outlined in our collective bargaining agreement.”
