J.B. Hunt Transportation Services generated record fourth quarter net earnings of $84 million, an $11.4 million rise over 2011’s total. Operating revenue for the fourth quarter also rose, year over year, from $1.2 billion to $1.34 billion. J.B. Hunt, based in Lowell, Ark., continued to pay down debt in 2012, finishing the year […]
In a move to diversify its business, Indiana-based transportation equipment manufacturer Wabash National Corp. has purchased assets from Portland, Ore.-based aluminum tank maker Beall Corp. for $15 million. The acquisition is expected to close in the first quarter. The assets, which were auctioned off as part of Beall’s bankruptcy proceedings, include equipment, […]
Using three main hubs in Africa, London-based Coyne Airways has created an African network that connects more than 30 destinations on the continent. The move transitions African air cargo services away from a point-to-point system by making use of interline carriers and Coyne’s own network. Cargo on the new routes is expected to run […]
Volvo has agreed to acquire 45 percent of a Donfeng Motor Group (DFG) subsidiary that manufactures medium- and heavy-duty vehicles for RMB 5.6 billion. DFG had partnered with Nissan Motors on the medium- and heavy-duty operation, Donfeng Commercial Vehicles, before recently purchasing it outright. The transaction is subject to regulatory oversight, and […]
Manuel Ernesto Ortiz-Barraza, an independent financial consultant, was extradited to the United States from Mexico Friday for his alleged role in a scheme to defraud the U.S. Export-Import Bank of over $2.5 million, according to the U.S. Justice Department. Ortiz-Barraza, 56, was charged in an indictment unsealed on Oct. 19, 2011, in the […]
The U.S. International Trade Commission said domestic manufacturers are unfairly harmed by subsidized exports of large residential washers made in South Korea and similarly from imports of these products from both South Korea and Mexico which are dumped on the U.S. market. All six ITC commissioners voted in the affirmative. As a […]
The liner carrier CMA CGM has sold a 49 percent stake in its terminal operating subsidiary Terminal Link to China Merchants Holdings, the largest public port operator in China, for 400 million euros ($538 million).
The Canadian railroad has been an industry leader in making intermodal comparable to a truck service to attract shippers that demand fast and reliable freight transportation – and continues to hone its products.
In an email to close associates, Ram Menen wrote that he’s taking early retirement from his 27-year Emirates SkyCargo career to spend more time with family and friends and continue to travel the world.
The port director of the Tampa Port Authority said robust growth in Latin America presents potentially significant opportunities to ports at the intersection of major East-West and North-South trade lanes.
The Alabama State Port Authority has approved $11.5 million in new contracts for the construction for a rail access bridge and expanded for another year Moffatt and Nichol’s engineering and program management work relating to the port’s Choctaw Point intermodal project. The construction contract also covers the inspection and testing of a bridge that […]
“It is confirmation we’re on the right track. And to keep that momentum we’re raising the target to a 40 percent reduction in CO2 by 2020,” said Morten Engelstoft, chief operating officer for Maersk Line.
Swift Transportation submitted record quarterly operating revenue and operating income, finishing the fourth quarter with $922 million in revenue, outpacing last year’s result of $860 million. Full-year operating revenue increased for the third year in a row in 2012, ending the year at $3.49 billion, another record. Last year’s total rose slightly from […]
The terminal operator COSCO Pacific (China) has agreed to acquire a stake in the Taicang International Container Terminal (TICT) from its parent company China Ocean Shipping Co. (COSCO). The deal will see COSCO transfer a 39.04 percent share to its terminal operating subsidiary. According to TICT’s Website, COSCO maintains a 45.9 percent share […]
The Panama Canal Authority will move ahead with plans to build a large terminal in Corozal, close to the new set of Pacific locks being built as part of the canal expansion. Rodolfo Sabonge, executive vice president of planning and business development at the Panama Canal Authority (ACP), said the new terminal would be […]
After a successful 2012, officials at information technology provider CHAMP CargoSystems expect to roll out several new features and products throughout the year. Details on the new programs have not yet been released. “Probably most significant will be products directly addressing the forwarder market, further bringing together our global community of users via connected […]
Barring any macroeconomic collapses — the debt-ceiling negotiations have the potential to wreck even the most conservative predictions — volumes and yields will continue to increase toward the end of the year.
Archive copy now available for download. American Shipper research shows global shippers are being challenged to integrate domestic and international logistics operations. For many shippers, particularly those leveraging multiple modes, this initiative requires major changes to business processes, organizational structure, and IT systems. It is clear there are many hurdles in integrating these classically disparate […]
Liberty Maritime Corp. on Wednesday filed a lawsuit in the U.S. District Court for the Eastern District District of New York accusing the Maritime Administration and U.S. Department of Transportation with improperly administering the Maritime Security Program (MSP), one of the chief programs to support the U.S. Merchant Marine. “MarAd has failed in its responsibility […]
Calendar-year revenues increased 10 percent to more than C$9.9 billion, with all business units registering gains, led by petroleum and chemicals at 15 percent to C$1.6 billion. Intermodal revenue grew 11 percent to C$2billion.
