GE Capital said it is the lead agent on a $173 million U.S. and Canadian cash flow senior credit facility for subsidiaries of Rand Logistics, a provider of bulk freight shipping services in the Great Lakes region. The loan will be used to refinance current debt and provide growth capital. Through its […]
The New Zealand government and the Greek owner of the containership Rena reached a comprehensive financial settlement in respect to matters arising from the ship’s grounding on Oct. 5, 2011.
Stolt Nielsen said it had a net profit of $6.7 million in the third quarter ending Aug. 31, compared to $22.2 million in the same period a year earlier. Operating revenue was $516.4 million in the third quarter of this year.
Kewill has integrated its existing shipper services with Stamps.com to provide customers with easier access to domestic and international parcel services. Kewill Clippership, through Kewill’s iMailtoo module, now gives direct access to Stamps.com services for printing U.S. Postal Service shipping labels for all mail classes, including Media Mail, Parcel Post, and First Class Mail […]
The Mississippi Valley Regional Blood Center (MVRBC) is the launch customer for BloodHub, a new online ordering system and blood supply management solution. By deploying the BloodHub integrated blood supply service, the 85 hospitals served by the MVRBC will be able to order, track, and manage their blood and inventory of related products and […]
The U.S. government has charged 11 people and firms in Texas and Russia with illegally exporting high-tech microelectronics. The Justice Department said the electronic parts “are subject to strict government controls due to their potential use in a wide range of military systems, including radar and surveillance systems, weapons guidance systems, and detonation […]
Web host ViaWest is providing Infrastructure-as-a-Service (IaaS) to logistics software provider Cadre Technologies, so Cadre can help its customers outsource hosting and IT services. IaaS is the category of cloud computing that refers to Web-based access for storage and computing power on the cloud, typically giving the user options to increase server capacity and applications […]
Zonar has introduced its new V3 telematics platform that collects data from vehicle ECM (electronic control module), integrates that with GPS satellite readings, and sends data over 3G networks for immediate back-office reporting. Zonar is a provider of electronic fleet inspection, tracking and operations systems, and said its new service will address some […]
The Spanish terminal operator Grup TCB said a consortium that planned to build and operate a container terminal in Ennore, India, is withdrawing from the project immediately. “The reasons for this decision are based on the unfavorable evolution of the Indian economy since the awarding of the concession that has made the project […]
Union Pacific has appointed Jason Hess to vice president of its National Customer Service Center. He succeeds Beth Whited, who was promoted to vice president and general manager for chemicals. Hess has held a variety of positions during his 18 years with the railroad, including roles in industrial products and chemicals. Most […]
In an effort to help companies track waste and comply with material control laws, Oracle has launched a waste management solution for its Oracle E-Business Suite. Oracle said the new waste service will be able to integrate with existing services such as the Oracle Depot Repair, Oracle Transportation Management, and Oracle Global Trade […]
ChemLogix LLC has introduced a new suite of logistics service brands to boost its available offerings. The branding effort comes as ChemLogix combines on-demand global transportation management technology from IBM with its existing transportation management services called the ChemLogix 3PL Product Suite. The company said the new suite will offer logistic services that provide measurable […]
North America Western Asia Holdings (NAWAH) announced Tuesday it has entered an agreement with Iraq’s Ministry of Transportation and the General Company for the Ports of Iraq to modernize Maqal Port.
As part of the deal, the short line operator entered into a new five-year senior secured credit facility comprised of a $1.875 billion term loan and $425 million revolving credit facility.
ICS said shipowners worry about the sufficient availability of low-sulfur fuel to allow ships to comply with the strict IMO regulations on sulfur emissions and potential rising costs.
Ship Finance International Ltd. (SFI) said Tuesday it expects to close on the sale of 6 million common shares in a secondary offering this Friday. On Monday the closing price of SFI’s common shares on the New York Stock Exchange was $16 per share. On Tuesday they closed at $14.98 per share, making […]
The Virginia Port Authority said the 64 Express container-on-barge shuttle service between Hampton Roads and the Port of Richmond will increase frequency from two to three sailings per week.
Trucking company Werner Enterprises has opened a new terminal in Brownstown Charter Township south of the Detroit/Windsor, Ontario region to facilitate growing business in eastern Canada. It said the new 10-acre site includes a full-service maintenance shop, driver amenities and serves as a strategic addition to Werner Enterprises’ terminal network.
RedPrairie Corp., a global supply chain and retail technology provider, has seen significant performance improvements of its services running on Microsoft SQL Server 2012, according to recent benchmark testing. RedPrairie confirmed Microsoft’s cloud-ready platform delivered the higher levels of performance, scalability, and reliability, which will support future logistics requirements of retailers and supply chain […]
Eric Sisco, president of APM Terminals America, said the company’s proposal to lease and operate the Virginia Port Authority (VPA) facilities could free up cash for other transportation projects in the state. In a letter to municipal and county officials, APMT said its proposal would transfer ownership of its APM Terminal in Portsmouth to the […]
