Hanjin Shipping said Wednesday that it is receiving a loan of 150 billion Korean Won ($141.6 million) from Korean Air, a major shareholder of Hanjin Shipping Holdings. In return, Hanjin Shipping Holdings will be pledging Hanjin Shipping shares to Korean Air. Hanjin Shipping said “this decision has been made by the board […]
AGL Resources said its Tropical Shipping operation had earnings before interest and taxes (EBIT) of $2 million in the third quarter compared to a loss of $1 million in the same period a year earlier. In the first nine months, EBIT was $3 million compared to a $1 million loss in the first […]
Saia achieved third-quarter revenues of $293 million, a 5.4-percent year-over-year increase, on a 34-percent raise in operating income. For the year, revenues improved over the first nine months of 2012 by $25 million to $859 million. LTL shipments increased by 0.6 percent per day, but weight per shipment declined by 0.7 percent, […]
The agreement would give the three carriers the ability to discuss and agree on the size, number and operational characteristics of vessels to be operated on transatlantic and transpacific trade lanes.
“I believe management has good intent; I believe the ILA has good intent. But the big umpire in the room is the Waterfront Commission,” said Dennis Daggett.
CP acquired the 660-mile section of track, which runs west through South Dakota, Nebraska and Wyoming, in its October 2008 purchase of Dakota, Minnesota & Eastern Railroad.
Mobile, Ala.-based ASF Intermodal has opened an intermodal drayage facility in Chicago, the firm’s first location in the Midwest. The new Chicago terminal is the first of several Midwest terminals the company plans to open over the next 12 months. Paul Heyder will manage the terminal, which will begin with two office […]
A.P. Moller-Maersk has appointed Morten Engelstoft to chief executive officer of Services and Other Shipping. In addition, Engelstoft will take over the position of CEO for Maersk Tankers, while Hanne B. Sørensen, who formerly held this role, will become CEO of Damco. The changes at Maersk Tankers and Damco take effect Jan. 1. […]
The Obama administration expressed “serious concerns” about the enforcement of Guatemala’s worker-rights laws, expecting “solid progress” toward implementing the country’s commitments over the next six months.
Top trade officials from Canada, Mexico and the United States have committed to strengthening the trade and economic relationship among their nations. The group — U.S. Secretary of Commerce Penny Prtizker; Ed Fast, Canada’s international trade minister; and Ildefonso Guajardo, the Mexican secretary of economy — pledged to work toward regulatory cooperation and […]
The National Shipping Co. of Saudi Arabia, Bahri, said it had net profit of 146.1 million riyal ($39 million) in the third quarter compared with 60.2 million riyal in the third period of 2012. The company said the main reasons for the increase in profit were increased income from Petredec, an LNG trading […]
During the third quarter, cargo volume at Amsterdam Airport Schiphol rose by 2.6 percent, year over year, to 383,780 tons. Year-to-date, cargo has grown by 1.6 percent over 2012 to 1.12 million tons. This growth has continued even as freighter movements have fallen by 1.4 percent compared to 2012. Asia and North […]
INTTRA said that it will roll out a cloud-based product early next year that will allow shippers — even and small- and medium-sized businesses — to get better visibility into their supply chains. Shippers will be able to log onto the INTTRA website and get updates on the status of their shipments, much […]
“The recent termination of operations of OAG Cargo’s AFRA, an online rate distribution and management application for air carriers and freight forwarders, is creating a gap in the marketplace,” CargoSphere said.
TNT Express reported a 6.6-percent, year-over-year decline in revenues during the third quarter, finishing the period at 1.62 billion euro ($2.23 billion) on a 1.3-percent decline in operating expenses.
The U.S. Food and Drug Administration on Friday issued a proposed rule under the FDA Food Safety Modernization Act (FSMA) aimed at improving the safety of food for animals. The proposed regulation, which is open to public comments for the next 120 days, aims to prevent foodborne illness in both animals and people. […]
The growth of ocean container volume at the Port of Virginia in September slowed to 1.5 percent, year-over-year, to 185,185 TEUs, primarily due to fewer exports. Box volume at the port is down by 20,000 TEUs since July.
The public meeting on developing a national maritime strategy will take place from 9 a.m. to 4:30 p.m. daily, Jan. 14 through Jan. 16, 2014. Ideas for agenda topics will be accepted through Nov. 22.
The Federal Motor Carrier Safety Administration has officially amended its hours-of-service rule to exempt short-haul drivers from the mandatory 30-minute rest period laid out in the final rule, a move mandated by the U.S. Court of Appeals for the D.C. Circuit in an August ruling. The change, which actually went into effect Aug. […]
UP’s move is the latest example of how logistics and transportation companies are investing to handle inbound and outbound shipments tied to the rapid development of shale rock formations across the United States.
