Hyundai Merchant Marine said it expects to receive funding from a new South Korean government shipping entity, which will buy and charter back vessels to the shipping company.
The Class I railway has also raised its quarterly dividend and has named six people to new positions and duties.
While the Shanghai Containerized Freight Index showed spot rates averaged 7 percent less in 2016 compared to a year prior, the China Containerized Freight Index illustrated an even greater drop, with declines especially prominant to the United States.
Montreal, Canada-based Class I railway Canadian National saw net income tick up 2.9 percent year-over-year to C$3.64 billion (U.S. $2.78 billion) in 2016 on revenues that slid 4.6 percent to C$12 billion.
The nominations of Wilbur Ross as Secretary of Commerce and Elaine Chao as Secretary of Transportation have been approved by the Senate Committee on Commerce, Science, and Transportation, and now move to the full Senate for approval.
The Pacific Northwest port has elected interim Chief Executive Officer Julianna Marler, who has held the post since May 2016 following the resignation of then-CEO Todd Coleman, to the permanent position of CEO and executive director.
The seasonally adjusted For-Hire Truck Tonnage Index slipped 6.2 percent to a reading of 133.8 compared with the previous month, following a revised 8.4 percent jump in November, according to the American Trucking Associations.
Brian A. Kenney, president and chief executive officer of GATX Corporation, said the company achieved record earnings per share for the full year of 2016.
The new Landstar U.S./Mexico Logistics Service Center’s yard is capable of holding over 450 trailers, 2.5 times the capacity of its previous Laredo facility.
What has been accepted as standard practice for decades – large shippers cementing big volume annual contracts with carriers and smaller shippers, forwarders and NVOs picking up the scraps on the spot market – is now being heavily scrutinized.
The Florida Department of Transportation announces secretary resignation, names interim secretary, while CenterPoint Properties hires vice president of investments.
In last interview as president, Obama sounds clarion call on trade, technology
Ocean carrier Yang Ming said it anticipates the Taiwanese government’s share in the carrier will increase well beyond the current 33.3 percent held by the Ministry of Transportation and Communications of Taiwan.
The world’s largest manufacturer of shipping containers has advised shareholders and potential investors to exercise caution when dealing with its shares.
Walter Kemmsies, managing director, economist and chief strategist for JLL Ports, Airports and Global Infrastructure, discussed how interest rates are on the rise and the effects this could have on the supply chain.
Total deal value and volume in the transportation and logistics industry for the full year in 2016 fell 31 percent and 6 percent, respectively, from the previous year, according to a new report from PricewaterhouseCoopers.
Japanese financial services firm Orix Corp. said the company decided to increase its exposure to shipping industry debt because it sees the “current market conditions as a favorable investment opportunity,” according to a report from Reuters.
The Israeli ocean carrier will launch its ZNP loop in April 2017, connecting ports in Southeast Asia and China to Vancouver, Canada.
The trucking technology provider said the new product offers rating solutions based on dimensional weight, modeled on Mexico-to-Mexico postal codes and delivered in Mexican pesos.
Total cross-border trade between the United States, Mexico and Canada grew 3.3 percent after falling in 21 of the previous 22 months compared with the prior-year period, according to the Department of Transportation’s Bureau of Transportation Statistics.
