Decelerating demand growth and continuing expansion of new shipping capacity has led to new lows for freight rates on mainstream shipping routes, according to a profit warning from ocean carrier CSCL.
The Port of Oakland has indicated officials are negotiating with TraPac, but said its other terminals will handle former OHT cargo and expects no diversion as a result of decision by TIL and Ports America to end operations at the port.
The Hong Kong-based ocean carrier Orient Overseas Container Line said its overall revenue per TEU in the fourth quarter of 2015 fell 17.3 percent compared to the same quarter a year ago.
Canadian Pacific Railway Ltd. CEO E. Hunter Harrison said yesterday the workforce reduction will come from all areas of the company as slumping cargo volumes caused a 29 percent decline in fourth quarter profits.
As the amount of data being produced and consumed by supply chains grows exponentially, having tools to visualize that data is crucial.
Rates from Shanghai to Northwest Europe, the Mediterranean and the United States have all fallen in each of the past three consecutive weeks.
The South Carolina Ports Authority is also investing in 120 more reefer racks at its Wando Welch Terminal.
The intermodal and trucking specialist posted a fourth quarter 2015 profit of $116.7 million and earnings per share of $1.01, surpassing analyst projections of $0.99 per share.
The alliance, which consists of the Port of Seattle and Port of Tacoma, handled 3.53 million TEUs in 2015, a 4 percent increase from 2014.
The purchase of UTi Worldwide makes Danish supply chain provider DSV the fourth largest global forwarder in terms of revenue.
Although Amsterdam Airport Schiphol, London-Heathrow and Frankfurt Airport saw throughput decline in 2015 in comparison to 2014, Leipzig/Halle Airport and Brussels Airport reported year-over-year increases in airfreight volumes.
DP World Russia, an 80/20 joint venture between the port terminal operator and the Russian Direct Investment Fund, aims to further the development of port and logistics infrastructure in Russia.
The global dry bulk commodities trader Cargill said Thursday that it intends to close the London office of its ocean transportation arm due to deteriorating market conditions.
The port handled 1.9 million metric tons of cargo in 2015, a 14 percent decline from 2014.
APM Terminals and Compañia de Puertos Asociados S.A. (Compas S.A.) finalized a new joint venture, Cartagena Container Terminal Operator, to jointly manage and operate Compas S.A.’s existing multipurpose terminal in Cartagena, Colombia.
The inland river port in northeastern Oklahoma handled 1.55 million tons of waterborne cargo during the past year, a 34.3 percent decline from 2014.
Aljex Software names VP of corporate strategy and IICL elects 2016 board, while SOGET appoints CEO and Hansa Heavy Lift picks offshore adviser.
The Port of Long Beach has “little to fear from other ports or the Panama Canal stealing our cargo and the jobs that come with it,” CEO Jon Slangerup said yesterday in his annual “State of the Port” address.
Canadian Pacific Railway Limited posted a net income of $319 million Canadian on revenues of $1.69 billion Canadian for the fourth quarter of 2015, year-over-year declines of 29.3 percent and 4 percent, respectively.
The International Monetary Fund yesterday released its latest quarterly World Economic Outlook (WEO) Update, in which it projected the global economy will grow 3.4 percent this year, down from its October projection of 3.6 percent.
