Norfolk Southern reported a profit of $402 million in the third quarter, 27 percent less than the $554 million it earned in the third quarter of 2011. Railway operating revenues totaled $2.7 billion in the quarter, down 7 percent from the $2.9 billion in the third-quarter 2011. “Third-quarter results reflect weak market conditions, […]
Ship Finance International Ltd., a shipowning company that is affiliated with various companies controlled by the shipping magnate John Fredriksen, announced it has agreed to acquire two car carriers. The Japan-built vessels have a capacity of about 6,500 car equivalent units (CEUs) and were built in 2005 and 2006, respectively. Ship Finance said the vessels […]
Descartes Systems Group, a provider of on-demand and software-as-a-service logistics software, said Delta Mossel, one of the largest mussel and oyster suppliers in Europe, has automated its operations with a combined solution from Descartes and partner Schouw Informatisering. The new system allows Delta to keep pace with compliance requirements of its retail customers. […]
Third party logistics services provider Globe Express Services (Overseas Group) has appointed Michael C. Hughes to president, chief executive officer, and board member, effective Dec. 1. Current CEO Ziad Korban will remain an active board member and owner, the company said in a statement. GES said Hughes will work closely with the […]
The loop, which links the U.S. East Coast and Mediterranean ports, will have a rotation of Haifa, Piraeus, Genoa, Tarragona, Halifax, New York, Savannah, Kingston, Tarragona, Ashdod, and Haifa.
Crowley Maritime Corp. has appointed Steve Demeroutis to vice president of marine operations for its petroleum and chemical transportation group. Rudy Leming will assume Demeroutis’ former position as vice president of labor relations. Both Demeroutis and Leming will remain based in Jacksonville, Fla. Demeroutis joined Crowley in 2007 as director of labor […]
At the request of the United States, the World Trade Organization has established a dispute settlement panel to address China’s imposition of antidumping and countervailing duties on U.S. automobiles. The United States is challenging China’s imposition of duties allegedly because U.S. automobiles were subsidized and sold at less than fair value, or “dumped,” […]
BT Global Services has released new cloud-based capabilities for its BT Trace solution, which is designed to help companies manage their complex global supply chains. “Companies with a global supply chain deal with multiple issues, from counterfeiting and shrinkage to product recalls and perishable goods. This is typical for global companies active in […]
“Shippers are increasingly driving environmental improvement, not only through collaboration with partners in the supply chain, but through competition based on carriers’ environmental performance,” said GSF Secretary General Chris Welsh.
According to the USTR, the agreement will call on Panama to immediately reduce or eliminate tariffs on U.S. industrial goods, which currently average 7 percent, with some tariffs as high as 81 percent.
Among 68 shippers surveyed by American Shipper, 94 percent said they were to be hit with surcharges if a strike had occurred. Eighty-one percent of those characterized the surcharge as “significant,” while the other 13 percent said the surcharge was “somewhat high.”
Caterpillar on Monday announced record third quarter sales and profit, but said weaker-than-expected global economic conditions would dampen full-year and 2013 results. Lower demand has caused dealers to postpone new orders in an effort to reduce inventory levels, it said. The heavy-equipment manufacturer, a leading U.S. exporter, now estimates revenues of about $66 billion […]
Canadian National Railway said it had a profit of C$664 million ($670 million) in the third quarter, about 1 percent more than the C$659 million earned in the same 2011 period. Revenue in the third quarter of 2012 was C$2.5 billion, up 8 percent over the third quarter of 2011, while revenue ton-miles […]
President Barack Obama and Republican challenger Mitt Romney took turns in Monday night’s presidential debate flexing their muscles over trade relations with China, which they both said has used unfair tactics to gain a competitive advantage for its products in foreign markets. In their third, and final, debate Romney repeated his campaign promise to […]
OSG had 112 ships in its fleet, 67 owned and 45 chartered, and had two under construction. It operates a highly diversified fleet that encompasses crude, product, and gas tankers across a wide range of sizes.
Protests continued Monday in Colon, Panama, over a law that allows for the sale of land in the Colon Free Trade Zone, according to the English-news Website Panama Guide. The Associated Press reported Friday that a 10-year-old boy was killed during violent protests in the city, at the Caribbean end of the Panama […]
The express carrier said it had a profit of $469 million in the third quarter, 56 percent down from the $1.07 billion earned in the same 2011 period.
The logistics company Globe Express Services said it has opened its Dammam Terminal Yard in Saudi Arabia (KSA). The 23,000-square-meter facility replaces an office GES had operated in Dammam since 1995, with the the new terminal yard located at the Dammam Sea Port Zone on the Arabian Gulf. The new facility is meant […]
Hub Group reported record profit of $18.5 million for the third quarter ended Sept. 30, an increase of 14 percent compared to the $16.2 million earned in third quarter of 2011. Revenue in the third quarter was $805 million, 7 percent more than the $752 million earned in the same 2011 period. […]
Seaboard Marine said earlier this month it completed the purchase of the Mare, a 974-TEU container vessel. The ship arrived has been renamed the Seaboard Atlantic. The company said it plans to base the ship in Miami and use it to serve the northern zone of Central America. “With her unique […]
