Canadian Pacific Railway said it had a profit of $224 million, an 20 percent increase over the $187 million earned in the third-quarter of 2011. Total revenues were $1.5 billion, an increase of $110 million, or 8 percent. E. Hunter Harrison, president and chief executive officer, said the company has “implemented new […]
Bahri, the National Shipping Company of Saudi Arabia, will take over ownership of the fleet of the Saudi Arabian Oil Co., now operated by the oil company’s subsidiary Vela in a deal said to be worth $1.3 billion. The companies signed a memorandum of understanding in June to combine their fleets and the boards of […]
Farrell The logistics software provider Kewill said this week it has appointed Robert “Bob” Farrell as chief executive officer. Farrell comes to Kewill after holding the same position with EDGAR Online, a global provider of XBRL (eXtensible Business Reporting Language) software, services and data where he managed the sale of the company to […]
Pacer International said it had a profit of $1.1 million in the third quarter ending Sept. 30, compared to $6.6 million in the same 2011 period. Revenues were also down – $348.9 million in the the third quarter of 2012, compared to $375.8 million in the third quarter of 2011. The company noted […]
Third party logistics services firm Regal Logistics acquired a new distribution center in Los Angeles. With 120,000 square feet of warehouse space, Regal’s new facility, which includes 14 dock doors, is designed for high-volumes and quick-turnarounds. Regal’s new facility opens January 2013 and is close to the ports of Los Angeles and Long Beach, […]
Pacer International said it has entered into a multi-year agreement to arrange, manage and provide intermodal freight transportation services for both automotive parts and freight-all-kinds shipments between the United States, Mexico and Canada for Union Pacific Railroad. Pacer will also act as UP’s network logistics manager for cross-border shipments and provide rail container […]
New Course, a consulting and integration services company focused on SAP supply chain software projects, has formed a partnership with MWPVL International. MWPVL is a global supply chain and logistics consulting firm that provides services in logistics network optimization, distribution center design, material handling systems, and supply chain software. The partnership will provide complementary […]
The U.S. Export-Import Bank has authorized more than $50 million to guarantee a loan extended by Apple Bank to Aeroservicios Especializados S.A. DE C.V. (ASESA) of Mexico that will finance the export of a fleet of Sikorsky S-76DTM helicopters to Mexico. The loan guarantee also formally inaugurates Ex-Im Bank’s Business Aircraft and Helicopter […]
Montreal-based supply chain consultancy KOM International Inc. has appointed Hector Orozco to partner responsible for the company’s Vancouver office. Orozco will develop KOM’s West Coast market. He is also the firm’s practice leader for KOMSystems. He joined KOM in 2007 and has more than 10 years of experience in supply chain, logistics, […]
The U.S. Export-Import Bank and Japan Bank for International Cooperation (JBIC) on Wednesday signed a co-financing agreement that will facilitate future export transactions involving companies in both the United States and Japan. The agreement enables Ex-Im Bank and JBIC to provide “one-stop-shop” export finance services to buyers in third countries purchasing both U.S. and […]
The country’s commerce minister on Sept. 3 asked the New Zealand Parliament Commerce Committee to consider proposals to transition international shipping to a normal competition regime governed by 1986 Commerce Act.
GT Nexus said the U.S. Shippers Association (USSA) will use its supply chain platform. USSA contracts for about 50,000 TEUs of ocean freight per year. Member companies include manufacturing industry leaders such as Air Products, Amcol International, Llyondell-Basell, FMC Corp., Guardian, Phibro, Rhodia, Sekisui, and Solvay. “Our members are all very large, […]
The increase, $1,500 per reefer container, follows one announced by Maersk Line in September. “Current levels of reefer rates are inadequate to offset the very high and increasing operating costs being incurred,” MSC said.
The carrier will build two new tankers at NASSCO’s shipyard in San Diego, but said it’s commitment to build the ships is contingent on approval of a $340 million Title XI loan guarantee from MarAd.
The Virginia Port Authority said Tuesday it has extended a contract with CSAV for five years, a deal which will guarantee the Chilean shippping line brings at least 45,000 TEUs to the port annually. The contract also guarantees that Virginia would get containers from any new CSAV service that calls the U.S. East Coast from South […]
The Port of Halifax and Canadian National have jointly appointed new commercial representatives in India, the port said Wednesday. The two operations named Ajay Kumar Singh as their representative in Mumbai, effective Oct. 1. Singh will help to market the Port of Halifax as a gateway to North America using CN’s rail network. “The […]
C.H. Robinson Worldwide said it had a profit of $116.3 million in the third quarter, 1.7 percent more than the $114.3 earned in the same 2011 period. Total revenues in the third quarter were $2.88 billion, up 6.9 percent from the $2.69 billion in the same 2011 period. Third quarter net revenues were $432.7 […]
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. […]
