The port handled a record number of containers and automobiles in September, according to the latest figures from the Port Authority of New York and New Jersey.
Freight brokerage and managed transportation services provider Echo Global Logistics posted huge year-over-year growth, thanks in part to its acquisition earlier this year of rival brokerage firm Command Transportation.
United States gross domestic product expanded at an annualized rate of 1.5 percent in the third quarter of 2015, according to the first estimate from the Department of Commerce’s Bureau of Economic Analysis.
The U.S. Department of Transportation selected 39 infrastructure projects from 627 eligible applications requesting a combined $10.1 billion in Transportation Investment Generating Economic Recovery grant funding.
The railway broke ground on a $70 million railroad bridge in Letchworth State Park in conjunction with the New York State Department of Transportation; the New York State Office of Parks, Recreation and Historic Preservation; and various other supporters.
Canadian National Railway posted a net income of $1.01 billion Canadian on revenues of $3.2 billion Canadian for the third quarter of 2015.
The parcel carrier expects to handle more than 630 million packages between Black Friday, Nov. 27, and New Year’s Eve, an increase of more than 10 percent over seasonal volumes in 2014.
Compared to its existing ships, the Atlantic Star will have double the container capacity and more room for vehicles and high and heavy roll-on/roll-off cargo, according to Atlantic Container Lines.
Indonesian President Joko Widodo told President Obama his country “intends to join the TPP” during a meeting between the two leaders earlier this week, according to Reuters.
The third-party logistics company will manage spare parts logistics services on behalf of the German automobile and motorcycle manufacturing company.
Short-sea vessel operator Oceanex has ordered a new Liebherr habor crane for its St. John’s terminal to replace the one damaged by fire in mid-September.
The logistics services provider opened a branch at the Cardiff International Airport to connect local importers and exporters with new business opportunities throughout the world.
Neptune Orient Lines, parent of ocean liner APL, attributed the poor financial results primarily to weak peak season shipment volumes to North America and Europe, which resulted in lower freight rates for container carriers.
The Danish global transport and logistics provider reported adjusted earnings and net revenues grew 15.1 percent and 2 percent, respectively, in the third quarter of 2015 compared to the same period a year ago.
Several major logistics and transportation company stocks have fallen sharply this week amid lower-than-expected earnings announcements and concerns of weak demand going into the fourth quarter.
Green Shipping Line is eyeing potential cargo shipping routes on the U.S. Atlantic Coast and in the Lake Erie region.
The Senate on Wednesday approved a House measure to extend federal transportation spending for three weeks and prevent a shutdown in funding today.
The Thomasville, N.C.-based less-than-truckload carrier posted net income of $84.4 million for the third quarter of 2015, an 8.3 percent increase from the third quarter of 2014.
The ocean procurement software provider launched Xeneta Insight for small and medium businesses and Xeneta Intelligence for large volume shipping companies.
The Norther California port will make 75 percent of the energy it purchases for tenants greenhouse gas-free within three years, according to a statement from the Oakland port authority.
