“Heartland acquires a major presence in the West, affording the combined customer base significant capacity nationwide through what is expected to be one of the five largest asset-based truckload fleets in North America,” the CEO said.
Business leaders question direction of Republican Party. The extreme conservative faction of the Republican Party — better known as the Tea Party — was largely responsible for the recent government shutdown and brinksmanship over the nation’s debt limit. A majority of the public has laid blame for the shutdown at the feet of the Republican Party, […]
Ocean liner carriers “have had little choice but to focus on cost savings and increased efficiency as their strategy,” said Christopher Koch, president and chief executive officer of the World Shipping Council.
The Port of Oakland said Friday it has completed construction of its shore power infrastructure that will allow ships to “cold iron” — plug into electricity generated on shore rather than running shipboard diesel engines to produce power. The ports said it has committed to reducing seaport-related diesel emissions by 85 percent by […]
Stacy Lange, director of key accounts for Xenon FS, said shippers should more closely manage drayage services, especially with the Federal Motor Carrier Safety Administration stringently enforcing new truck safety programs.
Import volume at the nation’s major retail container ports grew 6.5 percent in October compared to the same month last year despite the government shutdown, and year-over-year increases are expected to continue for the remainder of the year, according to the monthly Global Port Tracker report released Tuesday by the National Retail Federation and […]
Hapag-Lloyd said it had profit in the third quarter of 16.6 million euro ($22.31 million), compared with 45.6 million euro in the same period last year, but said freight rates were “very disappointing.” The Hamburg-based carrier said its profit came “primarily as a result of substantial cost reductions.” Revenue in the third […]
In a statement, Delford Smith, Evergreen’s chief executive officer, passed off the press reports of Evergreen’s demise as simple rumors, but an internal memo said the company will close on Nov. 30.
AirBridgeCargo Airlines carried 92,000 tons of cargo during the third quarter, a 3-percent, year-over-year increase. Traffic ticked up 18 percent during the quarter with a 15-percent rise in capacity. Average load factors rose to 78 percent. During the third quarter, the airline saw dividends from its program to promote Russian imports, carrying […]
The price of a barrel of crude oil could drop as low as $80 by next summer, Stephen Schork, editor and publisher of the Schork Report, said Monday on Al Jazeera America‘s “Real Money” program. West Texas Intermediate oil futures traded at about $95 on Monday, down almost $20 since the beginning of […]
At this pace, President Barack Obama and Vice President Joe Biden should be eligible to become honorary port directors. On Friday, the Port of New Orleans served as the backdrop for the president’s speech about his economic agenda and the importance of exports as a means for creating jobs. It is the fifth port the two […]
New Zealand’s Ambassador to the United States, Mike Moore, met with officials from Holt Logistics, the Philadelphia Regional Port Authority and New Zealand Dairy Cooperative Fonterra while touring the Packer Avenue Marine Terminal in Philadelphia on Friday, according to Holt. Philadelphia is a primary import destination for New Zealand products, including dairy, apples, kiwi and forestry […]
Hanjin Shipping said Young Min Kim, president and chief executive officer, resigned “to take responsibility for the company’s continuing losses and delay on financial support from major creditor banks.”
The Canadian Industrial Transportation Association is changing its name to Freight Management Association of Canada/Association canadienne de gestion du fret. Robert Ballantyne, president of the group, said the change is being made to better reflect the group’s membership and is part of a drive to increase membership. The group has about 100 […]
The Russian merchant fleet welcomed its first very large crude carrier (VLCC) during a naming ceremony last Thursday at the Bohai Shipbuilding Heavy Industry shipyard in China. The 320,000-deadweight-ton tanker, named Svet, is the first in a series of vessels of this type ordered by SCF Group (Sovcomflot) for transporting large quantities of […]
The company finished the third quarter with revenues of $623.4 million, finishing up 7.9 percent compared to the third quarter of 2012. Net income rose from $6.5 million in the third quarter of 2012 to $14 million.
Under the program, ocean carriers will earn $5 per TEU for each incremental container shipped through the port in 2014. The rate jumps to $15 per TEU if a carrier’s container volume grows by 100,000 or more units during the year.
Since 2005, plant cargo into Atlanta has increased from fewer than 4 million plant imports to more than 200 million plants, according to officials. Atlanta is also the second-busiest point of entry for flowers.
The container terminal operator International Container Terminal Services, Inc., (ICTSI) said Monday that its operating profits through the first three quarters of 2013 rose 26 percent year-over-year to $285.5 million. Revenue during the period rose 19 percent to $624.7 million. Volume handled at ICTSI terminals rose 13 percent to 4.6 million TEUs. […]
The U.S. Federal Maritime Commission has received 34 ocean transportation intermediary license applications and changes for review.
