Shares in Orient Overseas International Ltd., the parent company of ocean carrier Orient Overseas Container Line, have jumped more than 25 percent since the end of 2016, reaching a 52-week high on Wednesday.
The Mainz, Germany-based freight rail operator, formerly known as DB Schenker Rail, will participate in a feasibility study for the joint development and subsequent purchase of at least 100 new hybrid locomotives, the company said in a statement.
However, the Federal Aviation Administration said it will no longer require U.S. airlines to make pre-boarding notifications to passengers that the fire-prone Samsung Galaxy Note7 mobile phones are prohibited on board all aircraft.
International Maritime Bureau Director Pottengal Mukundan said kidnappings in the Sulu Sea, which is located between East Malaysia and the Philippines, are a particular concern.
American Airlines’ new daily, non-stop wide-body service between San Juan, Puerto Rico and Philadelphia is scheduled to begin April 4.
Union Pacific Railroad has agreed to interchange directly with short line Rapid City, Pierre & Eastern Railroad, which transports inbound fertilizer and outbound crops directly to and from farm producers across South Dakota.
Federal Maritime Commission Chairman Mario Cordero says he is willing to discuss the agency’s concerns with Port Authority of New York/New Jersey and OCEMA member carriers, leaving the door open for future approval of a revised agreement.
The U.S. trade deficit totaled $45.2 billion in November, up 6.8 percent from October as exports declined amid stronger domestic demand for imports.
The Singapore Ministry of Transport and PSA International have partnered with automotive companies Scania and Toyota Tsusho for the design, development and testing of an autonomous truck platooning system for use within the Port of Singapore.
The International Air Transport Association attributed the continued growth to more shipments of silicon materials for high value electronics, an apparent turnaround in new export orders, and the modal shift to air cargo due to the collapse of Hanjin.
Although e-commerce is a large contributor to parcel companies’ bottom lines, parcel has always been an arrow in the quiver of large shippers as well.
Major container ports in the United States handled 1.64 million TEUs in November, down 6.6 percent from October but up 11.2 percent from November 2015, according to the Global Port Tracker report by the National Retail Federation and Hackett Associates.
The port handled a record amount of loaded containerized cargo in 2016, despite the decision by Ports America and Terminal Investment Ltd. to close their operation at the port’s Outer Harbor.
The United States experienced growth in beef, pork and lamb exports in terms of volumes and value in November 2016 compared to 12 months prior.
The South Carolina Ports Authority handled 1.996 million TEUs in 2016, beating its previous calendar year container throughput record set in 2005.
The two ship-to-shore cranes the port is scheduled to receive from ZPMC in early 2018 will be able to work the larger ships that can now transit the Panama Canal’s new locks.
Logistics Plus hires new head of sourcing division, while the Cargo Incident Notification System names deputy chairman.
Global trade in 2016 was sluggish, as import volumes and global container throughput dipped, but the negligible dip in global trade was accompanied by radical shifts in freight pricing.
Sen. John Thune, R.-S.D., was selected to lead the Senate Committee on Commerce, Science and Transportation for a second straight term.
The Oregon Supreme Court is being asked to look at the legality of subsidies the Port of Portland gave to ocean carriers in 2012 and 2013.
