The Panama Canal Authority said it is confident in the process it uses to move ships through the new locks at the canal, following an accident last week that damaged the Xin Fei Zhou after it made contact with one of the walls at the Agua Clara Locks.
Although activity increased from the first quarter, total deal volume and value in the transportation and logistics sector was still down 18 percent and 22 percent year-over-year, respectively, according to a new report from PricewaterhouseCoopers.
The Dubai, United Arab Emirates-based global port terminal operator signed a memorandum of understanding with state-run Taiwan International Ports Corporation to build and operate Kaohsiung Port’s Terminal 7 in Taiwan.
The commercial fleet management, dedicated transportation and supply chain solutions provider saw second quarter net earnings drop 14 percent to $74 million compared to the same 2015 period despite a 2 percent uptick in revenues.
The Rome, Ga.-based freight broker’s purchase of Apex Freight Services will allow Scott Logistics to expand its market presence and contribute $20 million in additional annual revenues, according to a statement from the company.
The asset-light transportation and logistics services provider posted a net income of $1.8 million for the quarter and $4.9 million for the first six months of the year, year-over-year declines of 89.1 percent and 83.8 percent, respectively.
However, the less-than-truckload carrier experienced the first quarterly year-over-year decline in revenues since the fourth quarter of 2009.
Gregory Zikos, chief financial officer of Athens-based containership leasing company Costamare, said the company continued to deliver solid and profitable results despite a challenging market environment.
The containership lessor’s board of directors decided to suspend the quarterly cash dividend on its common shares, as a result of the current containership charter market.
The Korean port’s increase in container volumes resulted from the Hanjin Incheon Container Terminal opening this year, Incheon Port Authority (IPA) President Yoo Chang-kuen said.
Echo posts strong second quarter Chicago-based Echo Global Logistics reported strong year-over-year increases in net income, revenues and truckload volumes during the second quarter of 2016.
Association of American Railroads President and CEO Edward R. Hamberger expressed how the rail industry’s position, which remains unchanged, claims forced access is an ill-conceived approach that compromises the efficiency of the entire network.
Association of American Railroads President and CEO Edward R. Hamberger expressed how the rail industry’s position, which remains unchanged, claims forced access is an ill-conceived approach that compromises the efficiency of the entire network.
Schneider sees potential for growth in its bulk transportation business. For many years, the trucking company has provided liquid bulk transport to the chemicals industry, but has started increasing its transportation of bulk food-grade products. John Bozac, Schneider’s senior vice president and general manager of bulk, said longtime responsible care requirements for […]
A recent court decision is a reminder that the $500 package limit under the Carriage of Goods at Sea Act (COGSA) does not automatically apply in the event that deck cargo is damaged or lost. (Atwood Oceanics Inc. v. M/V Pac Altair et al. U.S District Court, Southern District of Alabama. No. 15-456. June […]
Cargo security vigilance in the United States was perhaps at its highest in the wake and immediate years following the deadly terrorist attacks of Sept. 11, 2001. However, its human nature for us to drift back into a state of complacency after a while. Businesses grumble quietly how much they can’t stand the […]
They’ll likely have to come up with a different name to avoid being confused with the Post-it manufacturer 3M, but the 2M ocean carrier alliance of Maersk Line and Mediterranean Shipping Co. (MSC) will soon become three. Struggling South Korean carrier Hyundai Merchant Marine (HMM) announced in July it signed a memorandum of understanding […]
Operators of breakbulk or multipurpose ships are being squeezed as operators of container and dry-bulk ships—both shipping sectors that are facing hard times—have targeted their market. A recent report by Drewry found “The demand outlook for the multipurpose fleet has not improved since the first quarter of 2016. The breakbulk and project cargo […]
Attendees will gain insights into the longest supply chains—those that reach into outer space.
The U.N. Economic Commission for Europe said China has ratified the TIR Convention, which it says will further streamline cross-border transportation for cargo moving between China and Europe.
