However, volumes carried by Latin American airlines fell 4.1 percent year-over-year in January, as the region continues to be blighted by weak economic and political conditions.
The Japanese ocean carrier could face a fine of as much as 10 percent of its annual revenues for its alleged involvement in a price-fixing scheme for auto shipping in South Africa, according to multiple media reports.
The appointment of outgoing Canadian Pacific Chief Executive E. Hunter Harrison as CEO of Class I railroad CSX is still contingent on a shareholder vote over $84 million in benefits and equity awards he forfeited by leaving CP six months ahead of schedule.
After talks between the Class I railway and hedge fund Mantle Ridge to install outgoing Canadian Pacific Chief Executive E. Hunter Harrison seemed to stall out in the past few weeks, negotiators may be nearing a deal, according to Bloomberg.
The shipping research and consulting firm said container carriers have a “golden opportunity to smooth out the capacity peaks in the coming years” by deferring the delivery of the ships they have on order, but probably won’t take full advantage of it.
The bipartisan bill would require up to 30 percent of exports of liquefied natural gas and crude oil to travel on U.S.-flag vessels.
The largest port on the U.S. East Coast handled 517,668 TEUs of containerized cargo in January 2017, a new monthly record, according to the most recent figures from the Port Authority of New York and New Jersey.
UPS hires director of global affairs, while the Association of American Railroads names new press secretary.
Stevedores’ unions in Spain have been protesting against a proposed law to reform the Spanish Ports Act, and have issued strikes between March 6 and March 25.
The London-based shipping research and consulting firm has examined the correlation between carrier terminal ownership and the choice of port calls by the 2M Alliance, and the upcoming alliances in April.
Berkshire Hathaway-owned BNSF Railway Co. reported a net income of $4.3 billion on $19.3 billion in revenues for the full year in 2016, decreases of 13.3 percent and 9.9 percent, respectively, from the previous year.
The Doric Warrior, a 93,115-dwt bulk carrier, delivered steel slabs from Tuapse, Russia on the Black Sea to the new Paulsboro Marine Terminal along the Delaware River on Thursday.
Spot rates declined from Shanghai to Europe, the Mediterranean and the United States since last Friday.
Total cross-border trade between the United States, Mexico and Canada ticked up 0.4 percent in December 2016, the third year-over-year increase in the past five months, according to the Department of Transportation’s Bureau of Transportation Statistics.
Members of the International Longshore and Warehouse Union had failed to report for work to unload a Pasha ship in Hawaii.
Net orders for North American Class 8 trucks totaled 22,900 units in February 2017, up 5 percent from the previous month and 28 percent from the previous year, according to freight transportation analyst FTR.
With capacity in the ocean carrier industry continuing to outstrip demand levels, many are left wondering what carrier is next in line for a merger or acquisition.
The Israeli ocean carrier’s revenues for the fourth quarter of 2016 totaled $653.5 million, down from $687 million for the fourth quarter of 2015.
The International Maritime Organization’s 0.5 percent sulphur cap regulation, set to go into force in 2020, could cause shipping industry fuel costs to jump by as much as $60 billion annually, according to a recent report from Wood Mackenzie.
Consolidated net profits for the year dropped 40.7 percent to 52.3 million Swiss francs compared with the previous year as tight peak season airfreight capacity and the collapse of South Korean ocean carrier Hanjin Shipping put pressure on margins.
