Arkansas Best Corp. had a fourth quarter profit of $1.4 million in 2011, compared to a loss of $3.1 million for the same 2010 period. Operating revenue was $463 million in the quarter, compared to $441 million in the same 2010 quarter. The less-than-truckload company had a profit of $6.2 million for the full […]
Hub Group said it had a profit of $17 million in the fourth quarter of 2011, 36 percent more than the $12.5 million earned in the same 2010 period. Revenue for the quarter was $763 million, compared to $480 million in the fourth quarter of 2010. Hub, which provides intermodal, truck brokerage and […]
Maersk Line, the world’s largest operator of container vessels, will become the first ocean carrier to take advantage of a new incentive program at the Port of Virginia designed to encourage transport companies to reduce air pollution from commercial vessels while at berth.
The National Football League makes a lot of money from licensing merchandise with team logos and players names, but fans looking to save money can find plenty of counterfeit apparel. Officers at U.S. Customs and Border Protection have been working during the football season to quell the trade of illegal merchandise. The […]
The Foss vessel Delta Mariner struck the Eggner Ferry Bridge, which services both U.S. Highway 68 and Kentucky Highway 80, resulting in its collapse, according to the Kentucky Department of Transportation.
South America’s largest airline, AviancaTaca, on Thursday signed an agreement to buy 33 Airbus A320neo planes, as well as 18 other A320 aircraft. The plane order, the largest from a single airline in the region in terms of number, follows a memorandum of understanding signed during the Le Bourget Air Show in Paris in […]
Budapest Airport in Hungary said it achieved a record cargo throughput in 2011, handling more than 100,000 tons for the first time. Flown cargo volumes grew by 6.4 percent to almost 70,000 tons, despite the flat volumes worldwide last year, while trucked volumes more than doubled to nearly 37,000 tons, taking total throughput to 106,595 tons. […]
According to Dynamar, total collective 2011 container volumes at Los Angeles, Long Beach, Oakland, Seattle, and Tacoma dropped to 19.1 million TEUs, compared to 19.2 million TEUs in 2010.
The Port of Oakland board of commissioners has appointed Jean Banker, most recently manager of finances and administration for the maritime division, as deputy executive director, the California port said Thursday. Banker came to Oakland in 2007. Prior to working at the port, she spent 13 years as deputy director of capital programs […]
Workers in the Port of Antwerp will support a planned 24-hour general transportation strike across Belgium, starting Monday morning, in protest against the country’s government to meet the European Union’s financial targets.
The Crescent River Port Pilots Association has decided to increase its maximum draft recommendation from 42 feet to 44 feet on the Lower Mississippi River. Capt. A.J. Gibbs said he made the recommendation Thursday after “reviewing the most current survey in the Pilottown Cubit’s Gap area, and due to the successful transit of the two […]
Ports America has relocated its headquarters from Iselin to Jersey City, N.J. The company is the largest independent marine terminal operator with operations at more than 80 terminals in 42 North American ports.
The liner carrier Mediterranean Shipping Co. said Thursday it plans to raise rates on Canadian exports to Europe from March 1. The increase, $100 per TEU, is applicable to destinations in Northern Europe (including Baltic and Scandinavian ports) and the western Mediterranean. MSC said the increase is required “to advance freight […]
The American Apparel & Footwear Association will host a seminar Jan. 31 in New York to discuss overseas retail growth. The seminar, Retail Hotspots: Developing a Strategy to Globalize, will focus on market entry, operation models, and consumer demographics in the BRIC (Brazil, Russia, India and China) nations. Speakers include Dr. […]
DB Schenker Rail GmbH has appointed Axel Marschall to head of sales in Europe, effective Feb. 1. He has performed this function on an interim basis since the departure of Karsten Sachsenröder in November. Marschall was previously chief executive officer of DB Schenker Rail Automotive GmbH in 2009. Marschall joined Deutsche […]
Liner carrier CSAV raised an additional $129 million as part of a $1.2 billion recapitalization program during the sale of 630 million shares to institutional investors in Chile and abroad, with the remainder purchased by retail investors.
The liner carrier CMA CGM on Wednesday unveiled a host of rate increases it plans to seek between Feb. 1 and March 1. As of Feb. 1, the increases are: United States to the Far East, $75 per 20-foot container and $150 per 40-foot or 40-foot high-cube container. Indian Subcontinent to the […]
Hanne B. Sørensen has been appointed the new chief executive officer of Maersk Tankers, replacing Søren Skou who moved from the tanker group to become the chief executive of Maersk Line.
IMF scaled back its forecast for world economic growth this year to 3.3 percent from 4 percent projected in September because of a mild recession expected in the Euro zone that will contribute to slow growth elsewhere.
The shipping company Maersk Line will reduce capacity on its 11-ship Asia-Europe AE2 loop in March by switching to smaller vessels. All five of the 13,000-TEU ships currently on its AE2 loop will be replaced by ones of 8,100 to 8,500 TEUs. Once complete, average capacity on the service will drop from the current 10,790 TEUs to 8,612 TEUs, a decrease of […]
