The Senate and House WRDA bills authorize about $8.2 billion in port and waterway projects each, but differ in areas such as how to fund ongoing construction of the Olmstead Dam mega-project.
In a continuation of its aggressive acquisition strategy, XPO Logistics has purchased last-mile logistics firm Optima Service Solutions for $26.6 million. For the past year, Optima generated revenues of $35.7 million and earnings of $3.7 million; the firm has boasted a 16-percent growth rate over the past five years, according to an XPO […]
Evergreen and Hanjin Shipping will start a new weekly service linking Korea, China, Vietnam, Singapore and Malaysia. The “New Ho Chi Minh Service” (NHS) will employ four ships, each with a 2,500-TEU capacity. One will be supplied by Evergreen and the other three by Hanjin. The service will have the following port […]
Texas-based Daseke, Inc., has acquired Boyd Bros. Transportation of Alabama and its subsidiaries, creating a full-service open deck and specialty trucking company with coverage throughout North America. Financial details of the transaction were not disclosed. Boyd Bros. will remain intact, without any personnel changes. Daseke’s president and CEO, Don Daseke, will become […]
The U.S. International Trade Commission has initiated four investigations to examine the impact of the African Growth and Opportunity Act (AGOA) trade preference program on the economies of sub-Saharan Africa and identify factors that have impacted trade, investment and the economic climate of the region. The investigations were requested by the Office of […]
Furniture retailer IKEA has acquired a 46-megawatt wind farm located in Alberta, Canada, from Mainstream Renewable Power. Terms of the deal were not disclosed. Mainstream has started construction of the Oldman 2 wind farm at a cost of about $90 million Canadian ($85.95 million). The wind farm is expected to be operational […]
American Airlines’ parent company, AMR Corp., and US Airways have applied as a combined company with NASDAQ. Upon the completion of the merger between the two companies, the new carrier will be listed under the AAL symbol. This week’s preliminary settlement between the carriers and the Department of Justice, which had banded together […]
The U.S. Export-Import Bank has backed two small businesses employing 165 workers in Wyoming and Texas to export about $7 million worth of nitrogen pumps to an energy company in Singapore. Payment was secured for the exporters by medium-term export financing extended by Wells Fargo and guaranteed by Ex-Im Bank. The transaction counts […]
The U.S. Commerce Department on Thursday reported that the country’s exports of goods and services dropped slightly to $188.9 billion, from $189.3 billion in August. Exports through the first three quarters of 2013 totaled nearly $1.7 trillion, with consumer goods, automotive vehicles and parts, and travel and tourism driving year-to-date export growth, the […]
The legislation would mandate that cargo pilots adhere to the Federal Aviation Administration’s new pilot fatigue guidelines, limiting the amount of continuous flying time for passenger pilots.
CT Strategies will operate as a subsidiary of Command Consulting Group, helping clients with border management, trade facilitation, supply chain security, intelligence targeting, and joining trusted trader partnership programs.
U.S.-flag Great Lakes freighters carried 9.8 million tons of dry-bulk cargo in October, an increase of 14.4 percent compared to a year ago, according to the Lake Carriers’ Association (LCA). The total was slightly ahead of October’s long-term average, but 1 percent below the 9.9 million tons the fleet moved in September, the […]
Hanjin Shipping said it had a loss of 317.6 billion ($297 million) South Korean won in the third quarter compared with a loss of 47.3 billion won in the same 2012 period. The company’s container business had a 47.8 billion won operating loss in the third quarter of 2013 compared to an 78.6 […]
“LNG technology has the potential to offer one of the most significant developments in railroading since the transition from steam to diesel in the 1950s,” Chief Operating Officer Oscar Munoz said in a statement.
Axel Mattern, the Port of Hamburg’s marketing chief executive officer, said he anticipates anticipates seaborne cargo throughput for the full year of up to 138.5 million tons. That would correspond to an almost 6-percent increase over 2012.
The Department of Defense said that Maersk Line Ltd., the U.S.-flag arm of Maersk based in Norfolk, Va., has been awarded a $73,677,038 firm-fixed-price contract for the time charter of one U.S.-flagged, twin-shaft vessel, which shall function as a maritime support vessel for the Military Sealift Command. MSC said the ship is the […]
The U.S. Department of Agriculture’s Animal and Plant Health Inspection Service is considering which pests actually pose a risk to the country’s agriculture sector when found in imported goods at ports of entry. “We have determined that it is no longer appropriate or necessary to take such action on some plant pests,” the […]
CEVA has secured a contract to transport monthly shipments of oversized oil and gas assembly valves for Brazil-based Petrobas through December 2014. The ocean shipments will route from the Port of Tilbury to Rio de Janeiro on a ro-ro vessel. “CEVA has been the official freight management provider for the Petrobras Exploration […]
Negotiations between YRC Worldwide and the International Brotherhood of Teamsters are officially on, as the carrier is looking for a new five-year contract, which would help stem its losses and reduce its debt.
If it sometimes seems as though the momentum of e-commerce in North America has the force of a runaway train, chew on this: e-commerce sales in China are estimated to surpass those in North America this year. Indeed, China’s consumers have taken to buying online as quickly as multinationals took to producing goods […]
