The Berkshire Hathaway-owned Class I railroad recorded a $500 million distribution to its parent during second quarter 2016, half what it contributed the previous year, according to regulatory filings.
Under a new service agreement, Sameday Worldwide will handle all of Roadrunner Transportation Systems’ less-than-truckload volumes in eastern Canada, while Roadrunner will handle all Sameday Worldwide shipments within its U.S. network.
The Dubai-based terminal operator said it will explore moving containerized freight with Hyperloop One, which is one of several companies that wants to build a system for moving freight or passengers using magnetically levitating vehicles in vacuum tubes.
Although cargo throughput at the German port for the first six months of the year slipped 0.9 percent from the same period in 2015, seaport-hinterland traffic by rail rose 3.9 percent.
Singapore-based global cargo transportation and logistics company APL Logistics Ltd. launched a joint venture with Arab Global Logistics LLC in Oman.
The Port of Barcelona, Spain saw international containerized imports in the first six months of the year grow 11 percent to 264,624 TEUs compared with the same 2015 period, while exports increased 4 percent to 323,580 TEUs.
South Korea’s largest container shipping company’s transported volumes ticked up 1 percent year-over-year in the quarter to 1.17 million TEUs, container revenues tumbled 26.6 percent year-over-year to 1.35 trillion won.
Regional and short line rail group Genesee & Wyoming Inc. has agreed to acquire Worcester, Mass.-based railway Providence and Worcester Railroad Co. for $126 million, according to a joint statement from the companies.
The Southern California port attributed its 7.7 percent year-over-year drop in container volumes in July to high inventory levels and a slow start to the peak season.
Non-asset based logistics company KFS, Inc., which has been in business for over twenty-five years, has been acquired by Business Intelligence Group.
The ship broking and shipping services group saw profits in the first six months of the year more than double to 13 million British pounds compared with the same 2015 period, according to the company’s most recent unaudited financial statements.
The aircraft manufacturer is considering the launch of a passenger-to-freighter conversion program for its Avro RJ jetliner and is seeking customer feedback in an effort to assess market potential, the company said in a statement.
Hamburg Hafen und Logistik AG’s Container Terminal Burchardkai received three new container gantry cranes Sunday, and once they go into operation, the terminal will be able to handle ships with a capacity of 20,000 TEUs and more at two berths.
Ocean carriers Maersk Line, CMA CGM, Hapag-Lloyd, MOL and Emirates issued rate increases, while members of the Caribbean Shipowners Association issued a peak season surcharge.
Meanwhile, the A.P. Møller – Maersk conglomerate, which includes both Maersk Line and APM Terminals, reported second quarter profits of $118 million, 89 percent below the $1.09 billion in the second quarter of 2015.
Delegates from the International Longshore and Warehouse Union voted Thursday to have the union enter into discussions with representatives of the Pacific Maritime Association to discuss a contract extension.
Import cargo volumes at the Southern California port grew 5 percent in July 2016 compared with the same 2015 period, but overall cargo volumes slipped 1.6 percent year-over-year due to an almost 12 percent drop in empty container shipments.
However, over the past year, the prices for U.S. agricultural exports have slipped 2.6 percent, primarily due to the falling prices of nuts, wheat and corn.
The Brazilian aircraft manufacturer did not provide any additional details in terms of the number of positions or cost reduction targets, but the union representing Embraer’s workers said the company is looking to save $200 million with the program.
The Association of American Railroads has petitioned the U.S. Court of Appeals for the District of Columbia Circuit to review a recent Surface Transportation Board final rule that defines on-time performance for railroads.
