Hapag-Lloyd had improved results in the third quarter, but the German liner carrier said in the current quarter transport demand is being reduced by the debt crisis in Europe. The carrier said it had an after-tax profit of 45.6 million euros ($57.9 million) in the third quarter, compared to 9.6 million euros for the same […]
The Website for the China Daily newspaper is reporting that COSCO and China Cargo Airlines are planning to sell a combined 30.7 percent stake in Shanghai Eastern Logistics Co., but only to domestic Chinese air carriers.
FedEx Freight, the less-than-truckload subsidiary of FedEx Corp., has expanded its 10:30 a.m. delivery option to include Canada. This service is now available for FedEx Freight Priority and FedEx Freight Economy shipments.
Chattanooga, Tenn.-based trucking company U.S. Xpress Enterprises will significantly expand its U.S./Mexican cross-border services via two deals. First, U.S. Xpress will purchase a 90-percent interest in Xpress Internacional. With a terminal network in major cities throughout Mexico, Xpress Internacional allows U.S. Xpress to provide a “true door-to-door service between the two countries,” Xpress […]
International Shipholding Corp. said it intends, subject to market conditions, to raise up to $40 million through a stock sale. The company said it would use the proceeds from the offering for general corporate purposes.
As well as exports of general cargo, fish and fresh fruits to the U.K. market, shippers in South Africa benefit from Virgin Atlantic’s connections in London to other export destinations in the United States.
Roadrunner Transportation Systems said Monday that it has acquired A&A Express, a provider primarily of refrigerated truckload services based in Brandon, S.D. Cudahy, Wis.-based Roadrunner is paying about $24 million, plus an earn-out capped at $2.5 million. A&A uses both independent contractors and employee drivers. The acquisition was financed with borrowings under Roadrunner’s […]
TCV Railway, the rail freight operator that forms part of Grup TCB, said Monday it will start a container service between the Port of Valencia and Miranda de Ebro, in the Spanish province of Burgos, from Nov. 23. “The new trade route is an extension of the already consolidated TCV Railway services between […]
The supply chain freight bill processor and auditor Data2Logistics said Monday it has launched an ISO-certified document control program that captures and maintains client specifications, carrier rates, and internal work instructions. The company said the program also validated the information “on a continuous basis,” which helps audit clients’ bill more accurately. Data2Logistics […]
Entercoms, a Dallas-based provider of aftermarket supply chain services, today announced its expansion in Europe, naming Gavin Murphy vice president and general manager to lead the operation from its base in Ireland. The new office establishes the first foothold for Entercoms on the continent and will support clients throughout Europe, the Middle East […]
Toll Global Forwarding (TGF) has promoted Geoff Partridge to managing director of its South African operation. He was previously operations director, and replaces Vincent Magnus who is retiring at the end of 2012. Partridge and Magnus were co-founders of the business in 1989, when it was started as Clover Cargo. In 1995, […]
The world’s largest container carrier Maersk Line said Friday it netted $547 million in operating profits in the third quarter, a more than $800 million change in fortunes from the same period in 2011. The quarter also saw the Danish line move into the black for the year, with operating profits through three quarters […]
Major roadblocks thrown up by European Union regulators have increased the chances of UPS abandoning its effort to acquire TNT Express, which would give it a large market share equivalent to that of Germany’s DHL.
The Port of Houston Authority said its commissioners adopted a voluntary early retirement program for employees at a meeting this week. Full-time, salaried port authority employees at least 55 years of age and with 15 years of service before the end of the year are eligible. The Houston Chronicle also reported on Thursday […]
The American Logistics Aid Network (ALAN) continues to work together with Voluntary Organizations Active in Disaster (VOAD) and emergency management agencies to meet critical needs resulting from last week’s Hurricane Sandy, and said there’s a need for bulk commodities. This week, ALAN helped to streamline relief efforts by sharing information and making connections […]
Noel Perry, senior consultant for the transportation analyst FTR Associates, said the recovery effort from Hurricane Sandy will likely be a boon to trucking and intermodal companies that participate in the recovery efforts.
The U.S. Commerce Department’s Census Bureau and Bureau of Economic Analysis reported Thursday that exports for September rose 3.1 percent to $187 billion and imports increased 1.5 percent to $228.5 billion. Goods exports increased by $5.4 billion to a record high of $134 billion. Services exports rose by $0.3 billion to $53 billion, […]
Two major barge industry organizations, the American Waterways Operators and Waterways Council, Inc., are calling on Congress and the Obama administration to expedite Corps of Engineers rock removal along the Mississippi River.
Norway’s Wilh. Wilhelmsen Holding (WWH), a part owner of the roll-on/roll-off carriers Wallenius Wilhelmsen, American Roll-on, Roll-off Carrier, and Eukor, said its profit was lifted by a gain from sale of shares in the logistics company Hyundai Glovis in the third quarter. The company reduced its ownership of Glovis from 15 percent to […]
