The International Monetary Fund is forecasting the global economy to increase at a 3.1 percent pace in 2016 and 3.4 percent in 2017, both down 0.1 percentage points from previous projections, following the UK’s surprise vote last month to leave the EU.
Ocean carriers MSC, Hapag-Lloyd, Hamburg Sud and UASC will be shaking things up on the Europe-Middle East/ISC trade.
Captain John Loftus, who was fired in 2013 after working for Horizon Line for 20 years, has been awarded $655,000 in back wages, $225,000 in punitive damages, $10,000 for emotional distress, and more than $200,000 in legal costs.
The 2M Alliance carriers’ TP12/Empire will become an eastbound around-the-world service in September, instead of using the Suez Canal in both directions.
The U.S. Department of Transportation has granted FedEx’s uncontested application to the rights to operate a five-times-weekly freighter service between Miami, Fla. and the city of Matanzas in Cuba.
Calgary-based Class I railway Canadian Pacific posted a net income of $328 million Canadian (U.S. $251 million) in the second quarter of 2016 on revenues of C$1.45 billion.
The Philadelphia Regional Port Authority’s board of directors has named Jeff Theobald as its new chief executive officer, replacing James T. McDermott, Jr.
Pricing dropped another 1.5 percent for the month compared with June 2015, according to the latest Cass Intermodal Price Index, and analysts with Avondale Partners expect this trend to continue through the rest of the year.
The recent killing of four people in Almaty, the country’s largest city, and resulting anti-terror campaign will likely result in heightened inspections and shipment delays, according to a recent client note from logistics management group Move One.
The South Carolina Ports Authority’s terminals handled 1.9 million TEUs of containerized cargo during its 2016 fiscal year, which ended June 30, a 1.4 percent year-over-year increase.
Truckload pricing dipped another 1.8 percent in June 2016 compared to the same 2015 period, the fourth consecutive month of year-over-year declines, according to the latest Cass Truckload Linehaul Index.
The European port’s breakbulk segment posted higher volumes year-over-year in the first half of 2016, while the container, dry bulk and liquid bulk segments experienced declines.
United States truck trailer net orders totaled 11,900 units in June 2016, a 10 percent decrease from May and a 56 percent drop from the same 2015 period, according to freight transportation analyst FTR.
The U.S. Department of Transportation has picked four airlines that are expected to provide new daytime flights to Tokyo, Japan’s Haneda Airport as early as this fall.
The Commerce Department on Wednesday has preliminary determined that antidumping duties should be assessed on imports of large residential washing machines from China.
The Memphis, Tenn.-based logistics company formed a new division, Dunavant Logistics Leasing Group, providing equipment throughout the Continental United States, Alaska, Hawaii and the Caribbean.
The expanded Panama Canal locks, which just opened June 26 to handle vessels up to 14,000 TEUs, are expected to reshape U.S. East Coast port operations.
The Philadelphia Regional Port Authority’s board of directors has named Jeff Theobald as its new chief executive officer, replacing James T. McDermott, Jr.
The vessel sharing alliance, which expects to launch in April 2017, is contemplating initially deploying up to 175 container vessels in U.S. trades, according to a Federal Maritime Commission filing.
The U.S. Department of Transportation announced the appointment of 29 new members to the Marine Transportation System National Advisory Committee.
