Canadian Pacific ended 2013 with a record revenue of $6.1 billion, an 8 percent increase from the previous year, and experienced a revenue record in the fourth quarter, generating $1.6 billion, a 7-percent increase year over year. In its sharpest increases, the company saw a 45-percent increase in its adjusted operating income in […]
The average cost of air freight on 21 East-West routes fell to $3.58 per kilogram in December from a November rate of $3.81, a record, according to Drewry. The firm’s East-West Air Freight Price Index shows a year-over-year decline of $0.02 in December, but reflects that the December rate is still the third-highest […]
AutoInfo, Inc., the parent company of Sunteck Transport Group and E-Transport Group, will become Sunteck, effective May 1. As part of the re-branding initiative, the capacity division, which includes several motor carriers, E-Transport Group, E-Transport Carriers, Railport Services, Peer Transport Group and Truck Logistics Services, will adopt the Sunteck “big red S” logo […]
A little more than two years after Maersk Line Ltd. and Rickmers-Linie (America) Inc. formed a joint venture to provide breakbulk and project cargo shipping with two U.S.-flag, multi-purpose ships, one of those vessels will “flag out.” The Maersk Texas will be transferred to the Marshall Islands, while the Maersk Illinois will continue […]
C.H. Robinson has opened an office in Innsbruck, Austria. The new office will help the company expand its European road transport services. Chucko Beslic, a nine-year transportation industry veteran, will head the new office. C.H. Robinson has built a European network that now includes 53 offices with more than 1,000 employees. The […]
The U.S. Justice Department on Wednesday said Joel Rakower, along with his company Transship Discounts Ltd., pleaded guilty in federal court in Brooklyn, N.Y., to violating the Lacey Act by mislabeling imported piranhas. In the plea agreement, Rakower admitted his company purchased piranhas from a Hong Kong tropical fish supplier and imported them […]
Obama repeated his call to reform the tax code by closing loopholes for corporations to keep profits overseas, create incentives for companies that create jobs at home, and use taxes from repatriated money to pay for infrastructure.
The trade association warned, if left unchanged, the Renewable Fuel Standard volume requirements would “significantly damage the nation’s growing biodiesel industry and adversely impact soybean growers.”
Panama Canal Authority officials met with representatives for Grupo Unidos por el Canal on Tuesday in an effort to resolve their dispute over who is responsible for $1.6 billion in cost overruns.
The Federal Emergency Management Agency last August turned down a request by police in Newport News, Va., to fund a blimp to keep watch on the Port of Hampton Roads. The website Muckrock has posted documents related to the department’s request for $240,000 to purchase a “tethered aerial surveillance balloon system.”
The trade data firm Panjiva said a survey of 100 of its users found about two thirds of them optimistic or very optimistic about the economic outlook in 2014.
U.S. steel imports fell by 3.5 percent in December 2013 compared to the previous month based on a preliminary review of government data by the American Institute for International Steel. “Weak market conditions during the prior two-to-four month period, when imports would normally have been ordered, as well as trade cases, curtailed arrivals […]
MOL (America) Inc. said this week that its North American intermodal transit on-time performance results for October-December 2013 was 56 percent for the three origin ports in Asia to the six inland destinations in the United States it measures. The performance was adversely affected by vessel delays on ocean services that connect with […]
A new container terminal capable of handling 800,000 containers annually was dedicated at the Port of Mariel on Monday. Both Raul Castro, president of Cuba, and Dilma Rousseff, the president of Brazil, were on hand this week for a ribbon cutting. The BBC said the first phase of the project “was financed […]
The logistics services provider Blu Logistics has integrated the cloud-based global rate management solution from CargoSphere. Blu Logistics, which operates in seven countries, opened its North American office in 2009. The company, which offers sea and air freight services, customs brokerage, ground transportation, and warehousing, previously outsourced freight rate and contract management. […]
It will pay $86.9 million for each ship for a total of $434.5 million. They are to be delivered in 2016 and 2017. COSCO also noted that on Dec. 30, it ordered four 64,000-dwt bulk carriers for $27 million each.
The Baltimore Sun has reported that a federal arbitrator ordered a local of the International Longshoremen’s Association to pay about $3.8 million in damages after a three-day strike in October led to lost revenue at the port of Baltimore. Riker “Rocky” McKenzie, president of ILA Local 333, told the newspaper that the union […]
Cargolux Airlines Wednesday said its search for a new chief executive officer remains ongoing and that it has not selected a new CEO, despite media reports. According to a statement, the carrier’s consulting firm “had been commissioned with identifying interested candidates and tasked with shortlisting the most suitable individuals for this post after […]
Hub Group said it had a profit of $69.1 million in 2013, compared to $68 million in 2012. Revenue was $3.4 billion in 2013, compared to $3.1 billion in 2012. In the fourth quarter of 2013, profit was $16.5 million, compared to $18.8 million in the fourth quarter of 2012. Revenue for the […]
Matson said it has issued $100 million in 30-year final maturity senior unsecured notes pursuant to a previously announced private placement on Nov. 6, 2013. It said proceeds will be used for general corporate purposes.
