The authority said the new service will allow vessels to arrive at the canal much closer to their scheduled transit times, allowing them to remain at anchor for less time before actually beginning transit.
The Israel-based liner carrier recorded a loss to shareholders of $112 million in the first quarter of 2013, compared with a loss of $163 million in the same quarter last year. It also had revenue of $918 million for the quarter.
Liner carrier Mediterranean Shipping Co. has closed on the sale of a 35-percent interest in its terminal division, Terminal Investment Ltd. (TIL). The Stamford, Conn.-based infrastructure investment fund, Global Infrastructure Partners (GIP), and a group of co-investors are paying $1.9 billion for TIL, MSC said in April when the deal was first announced. MSC said TIL has […]
Maersk Line has announced new rotations for its MECL 1 and MECL 2 services between the United States, Middle East, Indian Subcontinent and Mediterranean. The company announced earlier this year it was increasing the size of its ships in MECL 1, which is operated with U.S.-flag vessels, and using them to serve the Western […]
Fednav Ltd., the largest bulk carrier in Canada, will add six new vessels to its fleet. Ordered from Sumitomo Corp. and Oshima Shipyard in Japan, the vessels will add “substantial capacity” to Fednav’s Great Lakes-capable fleet of ships, the carrier said. The 34,000-ton bulk carriers are adapted to the dimensions of the St. Lawrence […]
Global air cargo activity ticked up in April by 1.4 percent, year over year, after a 2.6-percent decline in March, according to the International Air Transport Association. Capacity rose by 1.2 percent. In the first four months of the year, activity has declined 0.6 percent, year over year, and capacity has basically […]
Etihad Cargo and Atlas Air Worldwide have launched a round-the-world freighter service, adding new services to Viracopos, Brazil; Quito, Ecuador; and Miami to its existing Boeing 747-8 routing. The globe-spanning service begins in Abu Dhabi, continuing on a Hong Kong-Chicago-Miami-Viracopos-Quito-Amsterdam routing before returning to the Middle East. “This goes beyond simply joining the […]
Trade value among the United States, Mexico and Canada hit $95.6 billion in March, a 4 percent decline from March 2012. Trucks carried 60 percent of the goods traded, with rail accounting for 16.5 percent of the goods moved, vessels taking on 8.1 percent of the cargo, and air transporting just 3.7 percent […]
At DHL’s annual general meeting, Frank Appel, the integrator’s chief executive officer, expressed confidence in previously announced earnings targets of 2.7 billion euros ($3.52 million) to 2.95 billion euros for 2013, despite the sour economy. Earnings targets for 2015 have been set at between 3.35 billion euros and 3.55 billion euros. Company […]
The global terminal operator PSA International has acquired a stake in the Fujian Jiangyin International Container Terminal (FJCT) in the Port of Fuzhou, expanding its presence in the southeast China gateway. PSA will be the second biggest shareholder in the terminal, after the Fuzhou Port Group (FPG). The stake is PSA’s third […]
PECO Pallet has opened a new depot in Hazleton, Pa. The facility, located about 95 miles north of Philadelphia, offers services such as sorting, repairing, storing, and reissuing of pallets. It will be fully ramped up by July 1, the company said.
In yesterday’s story on Walmart’s environmental fines, the retailer actually paid $81.6 million in the latest federal case concerning violations to the Clean Water Act, bringing its recent penalties paid in both state and federal court to $111 million.
The massive agriculture processor Archer Daniels Midland Co. continues to heavily invest in transportation infrastructure to move commodities around the world and expects governments and its business partners to make similar investments to support the harvest supply chain as the global population grows, according to a key company official. In an address at the […]
The logistics solutions provider Descartes Systems Group said its operating profit rose 9 percent year-on-year in its fiscal first quarter to $4.8 million. Descartes, whose quarter ended April 30, said revenue grew 14 percent to $34 million. Service revenue rose 9 percent to $30.1 million. Net income, meanwhile, rose 8 percent to $2.6 […]
Virgin Atlantic Cargo has begun using a cloud-based air messaging system from logistics solutions provider Descartes Systems Group. Virgin will use Descartes’ Global Air Messaging Gateway to help standardize and automate its air cargo processes. “Using Descartes as our sole electronic messaging provider, we benefit from increased transparency and improved efficiency across our air cargo […]
The Canadian National Railway will accelerate the upgrade of 74 miles of track in Wisconsin to handle growing demand for sand shipments used in hydraulic fracturing of shale formations by oil and gas developers in the Bakken region.
Key elements of the restructuring include centralizing port operations under the direct oversight of the VPA to align the economic development of the state with port initiatives, and eliminating duplicate levels of management and administrative functions.
Wal-Mart Stores has pleaded guilty to illegally disposing of hazardous materials at its U.S. retail stores and will pay $81 million for its six negligent violations of the Clean Water Act, according to the EPA.
A CSX freight train collided with a truck hauling trash and derailed in an industrial district in Rosedale, Md., outside of Baltimore, on Tuesday causing a large explosion and fire, according to the railroad and local news reports. Smoke from the fire could be seen for miles. CSX said the train was […]
Zim has agreed to sell its holdings in two companies that own container factories in China. Israel Corp., Zim’s parent, said the stake in the two companies would be sold for $50.5 million and that the expected capital gain from the sale would be $31.5 million. Zim did not detail what it […]
