Maritime

The U.S. Federal Maritime Commission (FMC) has received 24 ocean transportation intermediary license applications and changes for review.

   The U.S. Federal Maritime Commission has received 24 license applications and changes for review.    The FMC received non-vessel-operating common carrier license applications from A&D International Logistics Corp., Miami (Diana Espinal Acevedo, vice president); Den Hartogh Americas, Houston (Michael W. Milner, vice president); MidEast Shipping, Orange, Calif. (Abdelrahman Albarg, president); OQ Enterprises, Hayward, Calif. […]

FMC reviews 24 OTI license applications

The U.S. Federal Maritime Commission has received 24 ocean transportation intermediary license applications and changes for review.

UPS names president of growth and emerging markets, while “K” Line appoints senior executive officer, CargoLogicAir hires chief financial officer and technical director, and Great Lakes Dredge & Dock names new chief executive officer.

The Pacific Maritime Association has proposed extending the contract until July 1, 2022, with a 3.1 percent yearly wage increase over the base wage rate of $42.18 per hour.

The Pacific Maritime Association has proposed extending the contract until July 1, 2022, with a 3.1 percent yearly wage increase over the base wage rate of $42.18 per hour.

United States gross domestic product increased just 0.7 percent in the first quarter of 2017, down from from a 2.1 percent growth rate the previous quarter and the slowest in three years, according to the “advance” estimate from the Department of Commerce.

The Japanese postal, banking and insurance conglomerate now expects to post a net loss of 40 billion yen (U.S. $362.4 million) for its fiscal year ended March 31, 2016, after taking a 400.3 billion yen writedown on Australian logistics arm Toll Holdings.

The Phoenix, Ariz.-based truckload carrier and logistics provider, which recently announced a $6 billion merger with competitor Swift Transportation, saw first quarter net income fall 35.4 percent to $14.9 million compared with the same 2016 period.

Jacksonville, Fla.-based Landstar System, Inc. reported record first quarter revenues of $780.9 million for the first quarter of 2017.

Total cross-border trade between the United States, Mexico and Canada grew 2.9 percent in February 2017, the fourth straight month of year-over-year increases, according to the Department of Transportation’s Bureau of Transportation Statistics.

The Thomasville, N.C.-based less-than-truckload carrier surpassed analyst expectations, posting earnings per share of $0.80 for the quarter.

Freight broker and third-party provider Echo Global Logistics reported a net loss of $2.9 million in first quarter 2017, compared with a $0.3 million gain in the same 2016 period, even as revenues grew 3 percent year-over-year to $415.8 million.

The Norwegian global maritime industry group inked a deal to acquire the technical business solutions business from Drew Marine for approximately $400 million.

The boards of both Maersk Line and the Oetker Group, which owns Hamburg Süd, approved the sale and purchase agreement today.

The Atlanta-based parcel giant reported increased revenues in all of its business segments, and surpassed analyst expectations with an earnings per share of $1.32 for the quarter.

The port terminal operator arm of China COSCO Shipping saw earnings sink 65.6 percent to $37.6 million in first quarter 2017 despite a 7.5 percent increase in container throughput compared with the same 2016 period.

The London-based shipping research and consulting firm said that even though freight rates fell seasonally in the first quarter of 2017, they are better than they were in 2016.

The Port of Palm Beach and ocean carrier Tropical Shipping, its largest tenant, have agreed to a new 10-year contract that will provide an additional $10 million in net income for the South Florida port.