The news in early April that freight payment and audit services provider Trendset was beset by internal embezzlement and fraud has struck a nerve among shippers on how best to securely manage their transportation freight bills. “The circumstances warrant a re-examination of the kinds of protections and safeguards shippers should expect when contracting […]
Some airports are gaining ground, while others turn off shippers. By Jon Ross If you want to invest in air cargo infrastructure, the best places in the United States for this activity are Miami, Chicago and Memphis, according to Jones Lang LaSalle’s recently released 2013 U.S. Airport Outlook. The list took into account not […]
Norbert Dentressangle finished the first quarter with revenues of 949 million euros ($1.23 billion), a 1-percent, year-over-year decline due to lower volumes across all sectors. The company experienced a 4.1-percent drop in transport revenue, but logistics revenue increased by 3.4 percent to 436 million euros ($566.79 million). Freight forwarding saw a slight bump […]
In mid-February, representatives from the European Union and United States agreed to hammer out a path toward an EU-U.S. free-trade agreement that could come as early as 2015. The pact will harmonize product standards and trade rules, eliminating regulatory differences. Market access and new levels of cooperation will also be discussed in addition […]
The U.S. Commerce Department has selected 20 companies to join its deputy secretary, Rebecca Blank, on an infrastructure business development trade mission to Sao Paulo, Brazil; Bogota, Colombia; and Panama City, Panama, from May 12-18. “The governments of these countries have each outlined ambitious infrastructure development plans for the years ahead, and this […]
British union Unite has begun preparations to strike against Menzies World Cargo’s imposition of a two-year pay freeze on its staff at London Heathrow. The union will soon take a ballot of its members to decide if a strike is the correct action to take. According to the union, recent talks with […]
Bowhead Transport Co. and Crowley Marine Services said they will set up a joint venture to provide marine services in Alaska’s Arctic. The entity will operate as UIC Bowhead-Crowley. Bowhead Transport is a subsidiary of Ukpeaġvik Iñupiat Corp. (UIC), based in Barrow, Alaska. Both companies have long histories of providing services in […]
VTG Aktiengesellschaft, a European railcar and logistics services provider, and Kuehne + Nagel, a large logistics firm, are planning to merge parts of their rail logistics activities. Both parties entered a letter of intent this week. “This merger represents an expansion of the long-term partnership that has existed between VTG and Kuehne + Nagel within the scope of their […]
Paul Fisher, president and chief executive officer of industrial real estate developer CenterPoint Properties Trust, announced his retirement. Fisher was one of the founders of the company in 1993, serving as chief financial officer prior to being named president in 2004. In 2006, the then publicly listed CenterPoint was privatized, with Fisher continuing […]
In the aftermath of the Trendset embezzlement case, the issue regarding the financial risks in using freight auditing and payment companies has become a topic of discussion. Specifically, how wise is it to transfer funds to these companies for carrier payments? And are non-bank auditing and payment firms riskier than those operated by banks? […]
The U.S. Coast Guard said Thursday morning that the Port of Mobile was open following an explosion Wednesday evening aboard a gasoline barge owned by Kirby Inland Marine. The agency said it received the initial notification at 8:40 p.m. that there was a barge explosion between the George Wallace Tunnel and Bankhead Tunnel in […]
ICAT Logistics earlier this year overhauled its information technology platform — a much needed development considering the company was working on a 12-year-old legacy system.
Airlines, shippers and passengers are feeling the effects of the furloughs imposed Sunday on air traffic controllers by the FAA as part of a budget mechanism to save $637 million by the end of the fiscal year.
Maersk Line will discontinue its participation in two direct services, its West Med and Med Gulf strings, later this spring in favor of a feeder network to serve Mediterranean ports in Italy, France, and Spain. Moshe Loberant, the trade manager for Maersk’s services between North America and the Black Sea and Mediterranean, said the […]
FedEx Express has signed a seven-year, $10.5 billion contract to provide airport-to-airport domestic transport of mail for the U.S. Postal Service. The new contract, which starts in October, will offer postal customers more flexibility.
U.S. Bank and FuelQuest have teamed up to provide extended payment terms for rack-based fuel purchases and accelerated supplier payments by providing greater access to credit through the U.S. Bank Fuel Financing program.
Steel imports fell again in March by 1.3 percent compared to February, based on preliminary U.S. government reporting analyzed by the American Institute for International Steel (AIIS). “After months of declines in arrivals in response to weak economic conditions and steel demand, the only good news in the latest report is that the […]
The Port of Houston Authority’s port commission has ordered four dockside electric container cranes from Konecranes Finland Corp. as part of a $700 million plan to modernize the 36-year-old Barbours Cut Container Terminal. The cranes will be installed at Wharf No. 1. Konecranes was selected as the winning bidder during a recent […]
Cargolux took an overall loss of $35.1 million on revenues of $1.74 billion last year, showing a significant improvement over the $57 million loss the carrier budgeted for 2012. Cargo activity finished the year at 645,759 tons. The worldwide trend away from air cargo was the main culprit for the carrier’s loss, […]
US Airways experienced 3 percent cargo revenue growth in the first quarter of 2013, compared to the same period last year, on the way to a record net profit, excluding special items, of $55 million. During the same period last year, US Airways turned in a net loss of $22 million. Total […]
