FedEx is paying $5.2 million to build the 22-acre facility, which will include 55,000 square feet of office space. New York State has committed $2.56 million in tax credits, and FedEx will receive another $1.9 million in tax relief from Erie County.
Undersecretary of Commerce for International Trade Francisco Sánchez will lead a civil nuclear trade policy mission to Vietnam and China, May 17-23. Representatives from 18 companies, law firms, and industry associations will join U.S. government officials on the mission, which will make stops in Hanoi, Vietnam; and Beijing and Ningbo, China. Sánchez […]
The Montreal Port Authority said the Canadian Coast Guard has authorized the passage of vessels up to 44 meters wide in the Quebec-Montreal section of the St. Lawrence navigation channel, which will allow post-Panamax vessels carrying 6,000 TEUs to reach Montreal. Previously, the maximum width of ships allowed to travel in the channel […]
Cathay Pacific saw cargo activity fall 0.6 percent, year over year, to 123,805 tons in April as capacity ticked up by 1.5 percent. So far this year, cargo tonnage has fallen 1.2 percent on a 3.2-percent capacity rise. The Asian air carrier’s James Woodrow said the cargo market still hasn’t recovered from […]
A half dozen container shipping lines say they will restructure their services between the Far East and South America east coast. The Chilean carrier CSAV said the changes are being made “in view of continuous challenging trading conditions” in the trade. It said that effective from July, CSAV, China Shipping, CMA CGM, Hamburg […]
Total revenues at LATAM Airlines inched up 1.5 percent, year over year, to $3.4 billon on the strength of the carrier’s passenger revenues, while cargo revenues fell 3.2 percent during the first quarter. As the group continues putting together the LAN and TAM businesses, it saw operating income shoot up 149.8 percent during […]
Yusen Logistics (Americas) will open a new 229,000-square-foot warehouse in Chicago on May 20 that will employ 170 people. The warehouse will include 185,000 square feet dedicated to distribution and container freight station services, a climate-controlled area of 15,000 square feet, with separate freezer and refrigerated units totaling 3,000 square feet to accommodate […]
Last month, Genesee & Wyoming’s consolidated carloads increased by 7.3 percent, year over year, to 157,700, with the company’s North American activity increasing by 6.4 percent. Analysts at BB&T Capital Markets have anticipated a second-quarter carload result of around 472,000, an estimate which they now consider to be on the conservative side. […]
This fall, Weiss-Rohlig will relocate its North American headquarters to an 87,975-square-foot facility currently under construction in Elk Grove Village, Ill. Upon completion of the building, which is under construction by CenterPoint Properties, Weiss-Rohlig will initially lease 57 percent of the space. The move will bring Weiss-Rohlig, currently based in Des Plaines, Ill., […]
The facility proposed by TTI would receive railcars with 53-foot domestic containers full of grain and dried distillers grain with solubles and transfer the contents to standard 40-foot international containers for export.
“Changes to the arbitration rules are intended to consolidate and simplify formerly separate arbitration procedures and to encourage greater use of arbitration,” the Surface Transportation Board said. The new rules take effect June 12.
After a 0.2-percent decrease in March, U.S. import prices continued to fall, declining by 0.5 percent in April, according to the U.S. Bureau of Labor Statistics. Export pricing also continued to decrease, falling by 0.7 percent in April after a 0.5-percent decrease a month earlier. While consumer good imports rose by 0.3-percent […]
CEVA has opened the 20,000-square-meter “City of Pharma,” a healthcare warehousing and handling facility, in Stradella, Italy. The area can be doubled in a short time to address future market demands, the company said. The integrated logistics hub places many different companies from the same industry in one location. According to a press […]
Preparations for upcoming negotiations between the United States and European Union on a transatlantic free trade and investment agreement were on the agenda Monday when U.K. Prime Minister David Cameron visited the White House. The United States and European Union enjoy the world’s largest economic relationship, accounting for a third of total goods and services […]
Liner revenue for the APL parent company fell 2 percent to nearly $2 billion, falling in line with container volume which also dropped 2 percent to 772,000 TEUs. Logistics revenue increased 8 percent to $427 million.
The Port of Virginia set a record Saturday for handling the heaviest containership on the U.S. East Coast when the MSC Chicago sailed through the 50-foot channel with export cargo at a draft of 49 feet.
During the first quarter, DHL increased its revenues by 0.6 percent, year over year, to 13.4 billion euros ($17.4 billion), and before-tax earnings rose by 4 percent to 427 million euros ($553.9 million). Net income increased by 45 percent, year over year, but net profits fell to 498 million euros ($646 million) from […]
Matsuda David T. Matsuda, head of the Maritime Administration, plans to leave the agency at the end of the month. In a memorandum sent to industry leaders to thank them for their assistance during his tenure, Matsuda said he “recently made the difficult decision to move on from my position at the Maritime […]
Old Dominion Freight Line expects daily tonnage to grow by 4.5 percent to 5 percent, year over year, during the second quarter, an affirmation of previous predictions. Revenue per hundredweight, excluding fuel surcharges, should rise by between 1.5 percent and 2 percent in the same time period, the less-than-truckload carrier said. In […]
“We want to give credit to ABF for rejecting this gambit, and we now will demand from YRC a full accounting of the calculations and decisions that went into their latest misstep,” said Teamsters general president James Hoffa.
