Cargo shipments bounced back in June 2016, increasing 2.7 percent year-over-year, following several months of declines, according to industry analyst World ACD.
Meanwhile, the Korea Herald said HMM is looking for a new CEO with possible candidates including former HMM CEO Noh Jeong-ik and former APL CEO Ron Widdows, while Widdows informed American Shipper the report was just speculation and he is not involved.
Ten empty containers fell overboard the 14,000-TEU MSC Alexandra after its collision with a tanker in the Singapore Straight Wednesday at around 23:55 local time.
The London-based shipping consultant said the focus of the industry is shifting away from greenfield projects to mergers and acquisitions.
The third-party logistics provider’s two reporting segments – transportation and logistics – both experienced year-over-year increases in operating income and gross revenues resulting from various acquisitions throughout 2015.
However, the $113.9 million deal is still subject to approval by the Baltic Exchange shareholders.
The industrial minerals producer will acquire Sandbox, which provides innovative logistics solutions and technology for the transportation of proppant, the sand used for hydraulic fracturing in the oil and gas industry.
The cement company’s terminal in Providence, R.I. will serve the entire New England construction market, including the metropolitan areas of Providence and Boston, as well as the rest of Rhode Island, Massachusetts and Connecticut.
A managed affiliate of the private railroad and transportation management company this week began operating the former Heart of Texas Railroad, which it purchased in May for an undisclosed sum.
The Fort Worth, Texas-based railway and the Port of Los Angeles are appealing a judgment that halted plans by the railroad to build the Southern California Intermodal Gateway.
The port said the improvements are needed in order for it to handle the current and future generations of ultra-large containerships.
Looking ahead, the Honolulu-based liner carrier said it expects the $197.6 million acquisition of Span Alaska to close early this month.
The Seattle, Wash.-based global logistics provider’s diluted net earnings per share totaled $0.63 per share for the second quarter of 2016, a year-over-year increase of 3 percent, according to the company’s most recent financial statements.
The North American Chassis Pool Cooperative has partnered with Consolidated Chassis Management to operate a pool of 40-foot premium chassis available for short and long-term use, the organization said Monday.
Darien, Conn.-based short line railroad operator Genesee & Wyoming Inc. reported net income of $48.4 million on $501.4 million in revenues for second quarter 2016, year-over-year decreases of 8.3 percent and 7.5 percent, respectively.
The Singapore Exchange Ltd. is expected to make a formal offer shortly to purchase London’s Baltic Exchange, and sources put the value of the potential deal around $100 million.
The Los Angeles-based customs broker, which is a division of APL Logistics, opened a new office in Charlotte, N.C.
The industrial real estate development and management firm established a distribution center in Goodyear, Ariz. for Michael Lewis Company.
The third-party logistics provider opened a 33,000-square-foot temperature-controlled distribution center in Phnom Penh, Cambodia.
Union Pacific promotes VPs and Aljex Software names VP of sales and marketing, while CentrePort Canada appoints CFO and the Allen Lund Co. picks Atlanta office manager.
