The U.S. Export-Import Bank said it has transferred more than $1 billion in revenues to the Treasury’s general fund in fiscal year 2013. This revenue, generated from fees and services for customers, is what the bank earned above its operating costs and loan loss reserves. “From supporting jobs to helping reduce our deficit, the Export-Import […]
Railway operating revenues at Norfolk Southern ended the third quarter at $2.8 billion, a 5-percent increase over the same period in 2012, on the strength of a 4-percent rise in shipment volumes. Income from railway operations finished up 16 percent to $849 million, while net income ended the quarter at $482 million, up […]
The House of Representatives on Wednesday voted overwhelmingly, 417-3, to approve H.R. 3080, the Water Resources Reform and Development Act of 2013 (WRRDA). The House Transportation and Infrastructure Committee said in a press release that the bill “cuts federal red tape and bureaucracy, streamlines the infrastructure project delivery process, fosters fiscal responsibility, and […]
IAG Cargo will add a 747-8 freighter flight between London and Hong Kong with stops in Frankfurt and New Delhi on Oct. 31. IAG now provides 700 tons of lift per week into Hong Kong. “Hong Kong is an incredibly important trade center, not least for the garment and consumer electronics sectors, […]
The U.S. International Trade Commission has appointed Dominic L. Bianchi to general counsel and Margaret D. Macdonald to director of the Office of Unfair Import Investigations. The general counsel and other attorneys in that office provide legal advice and support to the commissioners and ITC staff on investigations and research studies. They also […]
Shipments of coal on the Great Lakes totaled 2.7 million tons in September, a decrease of 13 percent from a year ago and the preceding month, the Lake Carriers’ Association said. Shipments from Lake Superior ports totaled 1.6 million tons, a decrease of 13.5 percent compared to a year ago, while coal transshipped […]
Federal Maritime Commission Chairman Mario Cordero said he is hoping for a favorable response from regulators in the Europe and China to his call for a global regulatory summit on the proposed P3 Network of the world’s three largest container carriers — Maersk Line, CMA-CGM and MSC — on the major east-west trade lanes. […]
The TransMatch program “is mature enough to promote as a stand-alone service,” Transplace’s Brent Hudspeth said. Consumer product and grocery manufacturers like Clorox and Del Monte Foods use the service.
During the third quarter, 231 domestic trucking thefts occurred, a 15-percent increase in volume from the second quarter, according to FreightWatch International. Monthly, the most thefts (81) occurred in September, with 76 thefts happening in August, and 74 thefts taking place in July. Across the entire quarter, the per-incident value averaged out to […]
If the P3 Network is approved by antitrust authorities, its members — Maersk, MSC and CMA — will have “two large competitive advantages over their closest competitors,” said SeaIntel Maritime Analysis.
Canada Pacific earned a record CAN$1.5 billion ($1.44 billion) in revenues during the third quarter, a year-over-year increase of 6 percent, on 6-percent lower operating expenses. Net income during the quarter rose 45 percent to $324 million. The company also announced that Chief Financial Officer Brian Grassby is retiring at the end […]
Starting April 13, 2014, the federal government will no longer print traditional lithographic (paper) nautical charts, but will continue to provide other forms of nautical charts, including print-on-demand charts and versions for electronic charting systems. The National Oceanic and Atmospheric Administration’s Office of Coast Survey, which creates and maintains more than a thousand nautical […]
CargoWise has developed a new customs-compliant software module to meet the needs of its Canadian customers as they brace for upcoming changes to the country’s customs procedures.
“Improving Working Conditions in the Ready-Made Garment Sector” focuses on minimizing the threat of fire and building collapse in ready-made garment factories and on ensuring the rights and safety of workers.
The supply chain commerce solutions provider Manhattan Associates reported record operating profit in the third quarter. The company, which provides a range of software solutions, including transportation management, said operating profit rose by 34.4 percent to $32 million in the quarter. Revenue rose by 12.5 percent to $107.8 million. “We’re pleased with […]
The Indianapolis International Airport has recently commissioned what’s considered to be the largest solar project at a U.S. airport so far, with an output of 12.5 megawatts of electric power. The project was developed in partnership with General Energy Solutions, Telamon Corp., Johnson Melloh Solutions, Indianapolis Airport Authority and Indianapolis Power & Light […]
According to Drewry, the portion of containers that are 40-foot high-cubes has risen from 41 percent in 2007 to 49 percent, and this percentage is expected to grow by at least one percent this year.
During the incident, which happened near the city of Gainford on Saturday, 13 cars derailed, four of which were loaded with crude oil, with the remainder carrying LNG. No crude oil cars were compromised, and no injuries occurred.
CMA CGM said it is investing in a new information system and has “entered into a strategic partnership” with SAP “to develop the first system totally dedicated to container shipping” to be implemented by the end of 2015. “CMA CGM and SAP plan to give the new application innovative, original and global functions […]
The survey, sponsored by Penske Logistics, found that 3PL CEOs in North America, Europe and the Asia-Pacific are generally optimistic about company and industry growth prospects over the next three years.
