New York-based private equity firm ZS Fund has acquired Amerijet Holdings, an operator of cargo aircraft under the name Amerijet International, along with logistics services subsidiary ITN Worldwide for an undisclosed sum.
Number four U.S. railway Norfolk Southern reported net income of $405 million for the second quarter compared with $433 million during the same 2015 period, according to the company’s most recent financial statements.
Wind Point Partners will acquire the Kearny, N.J.-based asset-light third-party logistics provider for an undisclosed sum as it attempts to expand its portfolio of transportation and supply chain services companies in the United States.
Canada’s Transport Minister Marc Garneau has moved up the deadline for phasing out the use of older DOT-111 tank cars for crude-by-rail transport, according to the Canadian government department responsible for transportation policies and programs.
Although the non-asset-based third-party logistics provider saw revenues fall 6.9 percent year-over-year in the second quarter of 2016 to $3.3 billion, net income rose 4.3 percent year-over-year to $143.1 million.
Total cargo throughput at the largest French port fell 3 percent to 39.13 million metric tons in the first six months of 2016 as general cargo volumes remained relatively flat and bulk volumes fell compared with the same 2015 period.
The Port of Long Beach Harbor Commission President has been re-elected, while TIACA appoints European Shippers’ Council chairman to its board.
CLARIFICATION: A previous version of “Carriers shake up Europe-Mid E/ISC trade” stated that MSC’s IPAK service will end and the carrier will launch a new offering (in lieu of its current IPAK) with CMA CGM and UASC. However, it should be clear that the new rotation in which MSC will provide vessels, along with CMA CGM and […]
Gerry Wang, chief executive officer of Seaspan, expressed how he believes the industry will gradually improve if scrapping remains high and new ship orders remain low.
ZS Fund has acquired Amerijet Holdings, an operator of cargo aircraft under the name Amerijet International, along with logistics services subsidiary ITN Worldwide for an undisclosed sum.
The Dubai-based container terminal operator posted a cargo throughput of 31.4 million TEUs at its container terminals in the first six months of 2016, a 1.2 percent increase from the same 2015 period on a like-for-like basis.
The world’s largest convenience store chain teamed up with independent drone delivery service Flirtey and the Nevada Institute for Autonomous Systems to conduct the first fully autonomous aircraft delivery to a U.S. customer.
The Montreal, Canada-based Class I railway posted a net income of C$858 million on revenues of C$2.8 billion for the second quarter of 2016, a year-over-year drop of 3 percent and 9 percent, respectively.
The parcel carrier has partnered with automobile manufacturer Smart to conduct a market test in Stuttgart, Germany this fall on a service that will deliver packages directly to the trunk of a customer’s Smart car.
The independent containership owner and manager reported profits of $36.4 million on revenues of $224.3 million for the second quarter of 2016.
The U.S. government has established an air transport agreement with the Mexican government designed to increase trade and travel between the two nations.
Oliver Seidl replaces outgoing Chief Financial Officer Lutz Freytag, who will resign his position Nov. 30 after nine years to “tackle new challenges and dedicate more time to his personal pursuits,” the company said.
A ship carrying liquefied natural gas (LNG) from the United States became the first LNG carrier to pass through the enlarged Panama Canal on Monday.
The deferred airfreight transportation services and drayage provider attributed the loss primarily to one-time costs associated with its acquisition of TQI, which accounted for $27.4 million ($0.90 per diluted share) of the second quarter 2016 net loss.
The U.S. Justice Department said executives at LATAM’s predecessor, LAN Airlines, set up a fictitious $1.15 million consulting agreement in October 2006 with an advisor to Argentina’s Ministry of Transportation secretary.
