Singapore-based GLP’s $4.55 billion acquisition of IIT’s logistics assets will make it second largest logistics property owner and operator in the United States within a year of market entry, the company said.
Members of the ocean carrier alliance announced they will add calls to Gothenburg and Antwerp to their Loop 7 service between Asia and Europe.
The third-party logistics provider increased net income and revenues by 15.1 percent and 3 percent, respectively, in the first half of 2015 compared to the same period last year.
The Georgia Ports Authority will operate the facility in the northwest portion of the state, which is expected to attract shippers from surrounding states as well.
The funds, part of a $1.6 billion distribution of federal money for homeland security purposes, can be used for risk mitigation planning; maritime domain awareness; detection of explosives and other weapons; training and related measures.
The U.S. Department of Transportation’s Maritime Administration is providing $500,000 to Sandia National Lab for the study of a high-speed hydrogen fuel cell vessel as a clean energy alternative.
The trucking company’s revenues dropped in the second quarter year-over-year, but its balance sheet remains strong.
The ocean carrier announced plans to invest over $30 million in new equipment following its May 29 acquisition of Horizon Lines.
The containership owner accepted the first in a series of 14,000-TEU vessels being chartered to ocean carrier Yang Ming.
Construction began on Container Terminal 4 at Jebel Ali Port, which will increase the port’s capacity to 22.1 million TEUs by 2018.
Express carrier UPS said it has entered agreements to obtain up to 46 million gallons of hydrocarbon-based fuels over the next three years, a 15-fold increase over earlier contracts.
Columbus, Ohio’s Rickenbacker International Airport handled about 102 million pounds of cargo in the first half of 2015, a 40 percent increase over the same period last year.
The Canadian port handled double the steel tonnage since the seaway opened in April through the end of June compared to the same period last year.
The cargo division of Qatar Airways announced it will add Djibouti to its freighter network Aug. 1.
The U.S. State Department Monday released its annual “Trafficking in Persons Report” for 2015, in which it removed Trans-Pacific Partnership member Malaysia from its list of the worst offenders in the areas of human trafficking and slavery.
Meanwhile, drayage drivers at Pacific 9 Transportation continue their strike in an attempt to be reclassified as employee drivers.
The future of the Export-Import Bank is still in doubt because it depends on passage of a long-term transportation bill that is expected to pass the Senate, but which faces strong opposition in the House.
Roadrunner’s CEO Mark DiBlasi said the purchase of Stagecoach Cartage will expand its trucking network in the Southwest U.S. and along the Mexican border.
United Parcel Service Inc. grew its net income 9.9 percent in the second quarter despite revenues at the package delivery and logistics company falling 1.2 percent compared to the same period in 2014.
The port solutions service provider and dry warehousing company announced it acquired Charleston Freight Station, Inc.
