The combination of the two express carriers will create a $60 billion company and give UPS greater access to the European market, which has been difficult to penetrate because of the home advantage of TNT and Deutche Post’s DHL.
The Obama administration is committed to supporting investment in seaports because they are the lynch pin for $3.15 trillion of business activity and 13.3 million jobs in the United States, Transportation Secretary Ray LaHood said in his “Fast Lane” blog Wednesday after he and Maritime Administrator David Matsuda met the previous day with members of […]
The German line will end its Atlantic Express Shuttle (AES) service “due to the current market situation” until further notice. The service was operated between three ports with three ships.
Jade Cargo, a joint venture all-cargo airline set up by Shenzhen Airlines, Lufthansa Cargo AG, and German development finance institute DEG, has ceased operations, according to reports from China. The carrier, which grounded its fleet in January, has suffered from weakened demand out of Asia in the past year. Jade operated with […]
The liner carrier CMA CGM said Wednesday it’s suspending a planned peak season surcharge on the westbound Asia-Europe trade but replacing it with a rate increase from July 1. The French line was seeking a $350-per-TEU peak season surcharge, as announced May 11. The rate increase to be assessed in lieu of the […]
Wells Fargo Securities has initiated coverage on Matson, Inc. ahead of the company’s spinoff from parent Alexander & Baldwin in late June. “We view Matson as a stable and differentiated value story, given its 3 percent forward dividend yield, solid balance sheet, and unique service offering that carries leverage to both traditional U.S. […]
The Washington-based National Foreign Trade Council (NFTC) on Wednesday lauded a new report by the EU-U.S. High Level Working Group on Jobs and Growth about the group’s progress in expanding transatlantic trade and investment. “The U.S.-EU relationship is an important one, and we are pleased that steps are being taken to find ways […]
Alexandra C. Cook has been named director of finance for the Broward County Port Everglades Department. She replaces Mary Spiegel Meynarez who will retire at the end of June. Cook comes to the port from the Office of the Clerk & Comptroller for Palm Beach County, where she was deputy comptroller and finance manager.
The container chassis leasing company Direct ChassisLink said it has appointed John D. Bowe and Ronald T. Sorrow to its board. Bowe is the former president in the Americas for APL, where he worked for 20 years. Sorrow most recently served as president and chief executive officer for AVRON Partners, a partnership that focuses on developing and […]
The portal-based ocean transportation technology provider INTTRA said Tuesday that Spain-based non-vessel-operating common carrier International Forwarding S.L. (IFS) has joined its network. “Not only is INTTRA able to help us improve efficiencies, but also provides services to make us more agile for our customers,” said Jose Quilis, chief executive officer of IFS, in a […]
Shareholders of both WFS and Aviapartner have agreed to combine the companies, with Aviapartner to join WFS. The new group will be controlled by LBO France, WFS’ majority shareholder.
Home furnishings retailer IKEA said last week it will outfit distribution centers in Perryville, Md., and Westampton, N.J., this summer with solar arrays as part of a nationwide effort to transition to cleaner forms of energy. When the project is complete, IKEA will have almost 89 percent of its store and warehouse locations operating […]
Disney on Tuesday said it will use the Jacksonville port’s TraPac Terminal to receive the majority of its containerized merchandise destined to Walt Disney World Resorts in Kissimmee, Fla. The first containers bound for Disney arrived Tuesday morning aboard the MOL Paramount, with Mickey Mouse making an appearance to cut the ribbon for […]
Chicago-based freight forwarder Phoenix International is reportedly exploring a $500 million sale, according to a report this week by Reuters. The report listed a string of the top global logistics companies as potential suitors.
DOT will announce later this week the full list of recipients of its TIGER grants, but several ports and other government agencies receiving funds were notified by members of Congress and made announcements.
A day after Mexico was welcomed into negotiations over a sweeping pan-Pacific trade pact, Canada was also invited Tuesday, with two of the United States’ top five trading partners now involved.
Canada Steamship Lines, a division of the CSL Group, has ordered two new gearless bulk vessels, bringing to six the number of “Trillium Class” ships to be built as part of its fleet expansion for the Great Lakes. The two vessels will be built at the Yangfan Shipyard in China, and will enter […]
Railinc Corp. said Dave Ebbrecht, executive vice president operations of Kansas City Southern and its U.S. subsidiaries, has been elected to the company’s board. “He brings a wealth of rail operations expertise to the board that will be invaluable as we continue to improve Railinc’s service to our freight rail customers,” said Allen […]
Hapag-Lloyd plans to switch a call on its MPS service between the Mediterranean and the west coast of North America from Seattle to Tacoma, Wash. The German line operates the service alongside compatriot line Hamburg Sud.
The ocean carrier NYK has raised capacity on another of its weekly Asia to Indian west coast loops. This time it is its HLS service, on which it is increasing the size of the vessels to 2,742 TEUs.
