The Eden Prairie, Minn.-based third-party logistics provider posted a net income of $119 million on revenues of $3.1 billion for the first quarter of 2016.
Canadian National Railway increased net income 13 percent year-over-year to C$792 million (U.S. $627.53 million) in the first quarter of 2016 earnings on revenues that fell 4 percent to C$2.96 billion compared to the same 2015 period.
Shipment volumes grew 1.4 percent during the month, but expenditures declined 1 percent from February, according to the latest Cass Freight Index Report.
However, the temperature-sensitive truckload carrier’s operating revenues inched up 0.4 percent year-over-year for the quarter to $161.9 million, despite significantly lower fuel surcharges.
The seasonally adjusted For-Hire Truck Tonnage Index equaled 137.6 for the month, down 4.5 percent from an all-time high of 144 in February but up 2.2 percent compared with March 2015, according to the American Trucking Associations.
The North Liberty, Iowa-based trucking and logistics company experienced a 13.2 percent year-over-year decline in revenues for the quarter to $162.8 million, partially fueled by the sharp drop in fuel surcharge revenues.
Satellite Logistics Group names senior sales director, while Integrity Logistics selects new president.
Federal Maritime Commissioner William P. Doyle praised the statement from ocean carrier group OCEMA, but noted officials “still need to address an important liability issue for the shippers” in order to implement new verified gross mass requirements.
The National Transportation Safety Board hopes to recover the voyage data recorder and use it in the agency’s investigation into why the TOTE Maritime general cargo vessel sank last fall, claiming the lives of 33 crew members on board.
The 3rd Circuit U.S. Court of Appeals decision, which relies on a 1866 Supreme Court opinion, is being heralded as a victory for ocean carriers.
The sale of a relatively young 5,447-TEU post-panamax vessel “does not appear to be a one-off event,” according to the mapping, ship search and valuation service VesselsValue.
India and Russia have become the 76th and 77th countries, respectively, to ratify the World Trade Organization’s Trade Facilitation Agreement (TFA).
Kansas City Southern’s net income grew 6.8 percent to $108.1 million in the first quarter of 2016 on revenues that dropped 7 percent compared to the previous year, according to the company’s most recent financial statements.
The World Customs Organization has produced a case study to help better illustrate how customs authorities take into account transfer pricing information during verification of a cross-border shipment’s customs value.
Annualized turnover rates at large truckload fleets grew two percentage points to 102 percent, while turnover at smaller fleets surged 21 points to 89 percent in the fourth quarter of 2015, according to the American Trucking Associations.
The locks are scheduled to undergo a technological upgrade this summer to replace a half-century-old master control system that opens and closes the waterway passage.
The cargo division of Virgin Atlantic will commence its seasonal service between Chicago and London Heathrow tomorrow.
Cargotec subsidiary MacGregor has been contracted to supply two bulk carriers for Algoma, a Canadian Great Lakes shipping company, with gravity self-unloading systems.
The cargo airline commenced a new service from Abu Dhabi, United Arab Emirates to Muscat, along with a new service from Abu Dhabi to Kuwait.
The Netherlands-based third-party logistics company reported an operating loss of 1 million euros (U.S. $1.13 million) on revenues that fell 2.2 percent year-over-year for the first quarter of 2016 to 1.59 billion euros.
