Revenue Technology Services has successfully launched CargoPriceOpt, a system for the cargo industry that recommends pricing based on costs, pricing elasticity, customer value and competition. The tool was originally released in September, and Virgin Atlantic Cargo served as the first customer in October. The airline used the tool to identify its best customers, price […]
The U.S. economy shrank 0.1 percent in the fourth quarter of 2012 after 3.1 percent growth the previous quarter, the Commerce Department reported Wednesday. It said the decline was mostly caused by lower inventory and military spending. The estimate could change after the government issues revised estimates based on more complete economic data […]
The ILA and its employers resumed contract negotiations on Tuesday, but sources say efforts to reform work rules and improve productivity in the Port of New York and New Jersey are likely to overhang national talks.
The European Commission has adopted a fourth railway package aimed at improving infrastructure across the continent. The proposal includes measures to open up the constricted railroad market, promote better quality and efficiency among operators, and link the continent together through rail. European Parliament and the separate governments of each member state must […]
An affiliate of warehousing company Allied Logistics has banded together with the Industrial Real Estate Group and Gilco International to acquire a 228-building site in Ohio formerly occupied by a cabinet manufacturer. The development, which spans 2.5 million square feet, has access to both CSX and Norfolk Southern railroads. Allied Logistics will […]
According to recently released numbers from Drewry, air freight rates out of Asia to Europe and the United States fell in December. This decrease in the cost of shipping air cargo followed a spike in November due to new product releases. Experts say air freight pricing out of Asia will fall some more, but […]
Bill Graves, president of the American Trucking Associations, has requested a delay in the compliance date for the nationwide hours of service regulations due to pending litigation. In a letter to Anne Ferro of the Federal Motor Carrier Safety Administration, Graves wrote that while the ATA’s challenge to the new rules is pending […]
The largest expenditure, $831 million, will go to maintenance and replacement of tracks, crossties, ballast and bridges to ensure reliable and safe operations. Another $420 million will be used to buy new locomotives and other equipment.
“It turned out that football clubs weren’t like normal businesses. In normal business, if you rack up unpayable debts, you close down. However, football clubs rack up unpayable debts and live. No English club has folded for good since tiny Wigan Borough during the Great Depression in 1931. All the rest survived the Depression, […]
The U.S. transportation secretary has been coy about his intentions in recent months, but department watchers expected him to leave after one term. A few months ago he said he hadn’t decided on whether or not to stay.
Both APM Terminals and a group that includes Maher Terminals and JPMorgan IIF Acquisitions LLC have submitted bids to privatize the VPA terminals under the state’s Public-Private Transportation Act of 1995.
The Commerce Department recently issued a report updating Congress on the Obama administration’s National Export Initiative and its plans for the fourth year of the collective government effort to boost overseas sales. The five-year strategy aims to raise exports to $3.2 trillion by the end of 2014. Exports of goods and services over […]
Japan is currently the No. 2 market for U.S. beef exports in terms of value and No. 3 in volume (143,900 metric tons or 317.2 million pounds) valued at $969.8 million through the first 11 months of 2012.
OOCL said it will implement a general rate increase in the westbound transatlantic trade on March 1. Rates for dry cargo will be hiked $300 on 20-foot containers and $400 on 40-foot and 45-foot boxes for all routes/loops offered from Europe to the United States and Canada. – Chris Dupin
New orders for manufactured durable goods increased by 4.6 percent in December to $230.7 billion, according to the U.S. Department of Commerce. The December bump comes after the 0.7-percent increase measured in November; manufacturing has increased in seven of the past eight months. Orders for transportation equipment soared by 11.9 percent to […]
The National Retail Federation on Monday forecast retail industry sales (excluding automobiles, gas stations, and restaurants) will increase 3.4 percent in 2013. That’s down slightly from the preliminary 4.2 percent growth seen in 2012. The subdued forecast comes on the heels of a holiday season that was affected by political wrangling over fiscal […]
Port Freeport in Texas received a positive report from the U.S. Army Corps of Engineers’ chief to deepen and widen its harbor channel. The Freeport Harbor Channel Improvement Project (FHCIP) has been an 11-year effort between the Corps and port authority. The report will now be transmitted to Congress and recommends the project […]
Evergreen Line launched a new feeder service linking Greece, Turkey and Malta (GTM) on Monday. The 600-TEU Kirsten sailed from Piraeus and will make the following rotation every 10 days: Piraeus, Thessaloniki, Gebze, Marsaxlokk, and Piraeus Evergreen said the GTM service will enhance transhipment connections to Thessaloniki and the direct call to Gebze […]
The terminal operator DP World said its terminals handled 56.1 million TEUs in 2012, a 2.4 percent increase over 2011. DP World operates more than 60 terminals across six continents, with container handling generating about 80 percent of its revenue. In addition, the company currently has 11 new developments and major expansions underway in nine countries. At […]
The U.S. Export-Import Bank on Monday opened its newest regional export finance center in Detroit. This is the latest opening of four planned regional export finance centers by Ex-Im Bank in its effort to help local businesses improve their export sales and create jobs. The new regional office is located at the […]
