The European Commission has spoken, and a blockbuster merger between two of the world’s biggest integrators, which would have created a monolithic logistics firm in Europe, is no more. Though the commission has until February to officially decide, it has privately told both parties that the more than $6 billion deal is dead. […]
To hand over a major container port to a private operator, whose sole focus is on profit and not to be a business and job-creating entity for that region, would create a very dangerous precedent for America’s ports. The result would undoubtedly increase costs to shippers if they were to fall from favor […]
Of this amount, about $2.3 billion will be spent on upgrades of network assets, such as tracks, ties and signals, and another $1 billion on locomotives, freight cars and other equipment acquisitions, the Fort Worth-based railroad said.
Hapag-Lloyd said it would postpone to March 1 a general rate increase on exports of dry commodities from North America to East Asia, Indian Subcontinent and the Middle East. The German liner carrier said it originally planned to hike rates on Jan. 15, then postponed the increase to Feb. 15, and now plans the […]
Nordana has reportedly signed contracts for four heavylift ships with Sanfu Shipyard in China. The Website Maritime Denmark reports the 12,100-deadweight-ton multipurpose ships will have heavylift capacity for up to 500 metric tons and be delivered beginning in November 2014.
Qantas Freight and Australian air Express have officially become one, adding more destinations and service levels for cargo customers. While the merged carrier has already set up a central point to manage all freight capacity on domestic and international flights, officials are still working on intermingling services on a single air waybill and […]
The U.S. International Trade Commission on Friday determined that domestic wind turbine tower manufacturers are “materially injured” by similar imports from China and Vietnam. The Commerce Department previously determined that these large utility-scale towers are subsidized by the Chinese government. It was also determined that both Chinese- and Vietnamese-made towers are sold in […]
The penalty grows out of alleged discharges of contaminated bilge waters and failure to keep an accurate oil record book on its ship Southern Lily 2 when it was operating within navigable waters of American Samoa in 2011.
Wal-Mart Stores Inc., the nation’s largest merchandise importer, this year will launch a “Made-in-America”-buying campaign designed to increase purchases of goods from domestic suppliers, Bill Simon, the retailer’s president and chief executive officer of U.S. operations, announced last week at the National Retail Federation’s annual convention. Simon said Walmart and Sam’s Club will buy an additional […]
China Shipping Container Lines said it expects to record a net profit attributable to shareholders of the listed company of about 520 million Chinese yuan renminbi ($83.5 million) for 2012, compared to a loss in 2011. In a filing with the Hong Kong Stock Exchange, China Shipping said “The profit was mainly attributable […]
Heathrow Airport Holdings Ltd. has sold Stansted Airport, the fourth busiest airport in the United Kingdom, to Manchester Airports Group for 1.5 million pounds. Manchester Airports Group already operates Manchester, East Midlands and Bournemouth airports. The sale is expected to close in February. “Stansted Airport and its people have been part of […]
The pension fund paid $467 million for a 100-percent stake in SeaCube. It’s the second major splash the pension fund, one of Canada’s largest, has made in the container shipping industry.
Magnolia LNG is planning to spend $2.2 billion to build a natural gas liquefaction production and export facility at the Port of Lake Charles in Southwest Louisiana. Construction would create 1,000 jobs, but the plant would employ only 45 people when completed. Magnolia said it expects to make a final decision to […]
The fuel producer signed a five-year contract with Global Partners to use its rail transloading, logistics and transportation system to deliver crude oil from the Bakken region to its refinery in Elizabeth, N.J.
APM Terminals said its operation in Callao, Peru, will use radio frequency identification (RFID) technology to improve safety. Operators of heavy equipment, such as reach stackers and forklifts, will receive automatic alerts if pedestrians or other personnel are close to the machinery and at risk. APM Terminals noted these terminal workhorse vehicles are known […]
The Port of Antwerp handled 184.1 million tons of cargo in 2012, a drop of 1.6 percent compared to 2011, when the volume was 187.2 million tons. Container freight volume in Antwerp was little changed at 8.6 million TEUs, down 0.3 percent. Roll-on/roll-off freight volumes were up 13 percent to about 4.8 million tons. […]
The U.S. Export-Import Bank has authorized an $87.1 million guarantee of a loan extended by Crédit Agricole and other European lenders to Hispasat Canarias S.L.U., a Hispasat S.A. subsidiary based in Madrid, Spain, that will finance the assembly and purchase of a satellite to be manufactured by Orbital Sciences Corp. of Dulles, Va. […]
After adding American Airlines Cargo last week, the Global Logistics Network has kept expanding with the addition of Durban, South Africa-based Barloworld Logistics. Both new members will be given access to GLN’s network of close to 600 member offices in more than 120 countries. Access to the network will allow AA Cargo […]
Timothy Gormley told Commerce Department investigators he was “too busy” to obtain the necessary export licenses, and claimed he was overwhelmed at work. “That was his only excuse,” the department said.
In its latest Beige Book summing up current economic conditions in 12 key regions throughout the United States, the Federal Reserve outlined mixed transportation results in the closing months of 2012. Four of the districts reported on the transportation outlook of industry firms in their areas, with most of them seeing some positive […]
