CenterPoint Properties has closed the deal on a one-million-square-foot, six-building acquisition in Houston for $42.6 million. The seller, TA Associates, was represented by Trent Agnew and Rusty Tamlyn of HFF. “This transaction proves our commitment to a thriving industrial market that serves our mission of investment in port, rail and intermodal-related facilities,” […]
Over the next 20 years, the airline industry, as a whole, will need to attract $4 trillion to $5 trillion in outside investment to ensure future connectivity demand is achieved, according to a recent study by the International Air Transport Association and McKinsey & Co. A poor return on airline investment is at […]
AGS has unveiled 800SameDay, a service that guarantees delivery throughout the United States on the same day goods are shipped. According to AGS Chief Executive Officer Jim Tucci, the affordable service can, in some cases, be lower than some overnight services offered by AGS’ competitors. “We live in the age of now,” he […]
After declining for more than a year, the Shanghai Containerized Freight Index (SCFI) spiked sharply higher on Friday, apparently in anticipation of general rate increases (GRIs) that carriers have announced for July 1. The SCFI, a weighted index of estimated spot rates from Shanghai to 15 parts of the world as estimated each week […]
Momentum Transportation USA, an independent Landstar agency, has acquired Suncoast Ocean Lines, a freight forwarder and non-vessel-operating common carrier based in North Ft. Myers, Fla. Financial terms of the deal were not disclosed. “The addition of Suncoast to the Momentum team adds to our international capabilities, and specifically increases our capacity to […]
Burkhard Eling has taken over the Finance, Legal, and Tax (FLT) Department at third partly logistics services provider Dachser. He succeeds Dieter Truxius, who will remain a member of the company’s management until he retires at the end of the year. Since June 1, 2012, Eling, has served as deputy head of […]
Frank Baragona, a long-time veteran of the shipping industry, had served as head of CMA CGM America the past nine years. His departure will spark a reorganization at the French line’s offices in Virginia.
The drivers’ union employed at less-than-truckload carrier ABF Freight System have voted to approve the national portion of the master freight agreement as well as 21 of the 27 supplements.
Direct ChassisLink Inc. (DCLI) said it has acquired the U.S. chassis fleet of Hyundai Merchant Marine. DCLI said it will add “over 23,000 well-maintained, strategically located chassis.” In addition, Hyundai has entered into a long-term agreement under which DCLI will be the carrier’s exclusive chassis provider in the United States. The deal […]
Maher Terminals has had difficulties integrating a new terminal system at its facility in the Port of New York and New Jersey, forcing 11 vessels as of Friday to be diverted to other terminals in the port over the past two weeks.
Adkins UPS on Friday named former IBM senior vice president of corporate strategy Rodney Adkins as a company director effective immediately. Adkins will serve on UPS’ audit committee and his appointment expands the UPS board to 13 directors. He will stand for election to a regular one-year term at UPS’s annual shareholders’ meeting […]
Penny Pritzker was nominated by President Obama to serve as commerce secretary on May 9. On Thursday, the Senate unanimously voted to confirm Charlotte Mayor Anthony Foxx as the country’s next transportation secretary.
Bayonne Bridge Hundreds of construction workers and shipping industry representatives were on hand Wednesday as New Jersey Gov. Chris Christie and David Samson, chairman of the Port Authority of New York and New Jersey, touted the benefits of raising the roadbed of the Bayonne Bridge from 151 to 215 feet so that larger ships […]
Trillium said it will add 101 compressed natural gas filling stations throughout the United States by 2016. Its business model for public access stations consists of securing a fuel purchase agreement with an anchor customer for each station location. The company estimates there are about 120,000 natural gas vehicles on U.S. roads […]
Non-vessel-operating common carrier Vanguard Logistics Services has added offices in Hanoi and Haiphong, Vietnam. Vanguard opened its first office in the Southeast Asian country’s Ho Chi Minh City in 2007. In 2012, Vanguard Danang was started. “We have had agents in both (Hanoi and Haiphong) since 2004, but now we are officially […]
Sea Star Line has taken delivery of 150 new 40-foot refrigerated containers in year two of a five year equipment replacement plan. The replacement aims to reduce the average age of the carrier’s reefer fleet to less than three years. The new 40-foot refrigerated boxes will arrive at the Blount Island Terminal […]
The White House announced Thursday it will suspend the eligibility of Bangladesh for tariff benefits under the Generalized System of Preferences (GSP). “Our GSP statute requires certain basic standards for worker rights and worker safety as a condition of eligibility. Over the past few years, the U.S. government has worked closely with the […]
Nabil Sultan has been with Emirates for more than two decades, most recently as divisional senior vice president for revenue optimization and distribution. American Shipper reported on Ram Menen’s retirement in February.
The carriers said they will no longer call the Southeast port with their Gulf Mexico Express service between Europe and the U.S. Gulf and Mexico. The last vessel in the service calling at Charleston is expected to arrive July 29.
MOL said the aft part of the containership MOL Comfort sank in the Indian Ocean around noon, local time, on Thursday, 10 days after it broke in two during a storm. The Japanese container carrier said the aft part sank in the open sea near 14’26”N 66’26”E where the water depth is about 4,000 meters. […]
