“The second quarter results were indicative of a rebounding economy and higher-than-predicted import shipments,” said Joni Casey, president and chief executive officer of the Intermodal Association of North America.
There was more merger and acquisition activity in the transportation and logistics industry in the second quarter of 2014 than in the first quarter of this year, according to PricewaterhouseCoopers.
The Panama Canal Authority and the consortium working on the expansion project have signed an agreement that incorporates a variation reached in March to the original 2009 contract.
King Ocean moved approximately 140,000 TEU through Port Everglades in the fiscal year that ended Sept. 30, 2013, and recently added a 7.3-acre Midport marine terminal to its existing 33.8-acre Southport terminal.
The Chilean shipping company CSAV said Monday it has raised $108 million through the sale of shares in the first part of a previously announced rights offering. The company is seeking to raise a total of $202 million and will offer the remaining shares next week to shareholders in a second pre-emptive rights period […]
Bigger consortia and alliances among container carriers will allow carriers to use assets more efficiently, meaning they are likely to “better fine tune vessel capacity to seasonal cargo demand,” according to Drewry. In the most recent issue of its Container Insight Weekly, the London-based consultant wrote, “The balance between supply and demand in […]
Hewlett-Packard Co. has agreed to pay $32.5 million to settle allegations under the False Claims Act that it overcharged the U.S. Postal Service for products between October 2001 and December 2010, the Justice Department said Friday. The U.S. government alleged that despite a contract agreement, HP overcharged USPS by failing to comply with […]
Maersk said Friday it will implement a general rate increase for container shipments moving from Asia to the United States and Canada, effective September 1. Maersk said it will increase rates by $480 for 20-foot dry containers, $600 for 40-foot standard dry container, $675 for 40-foot high cube dry containers, $760 for 45 […]
FMCS said in a statement issued Monday morning that bargaining that began last Wednesday continued during the weekend with assistance from FMCS Acting Director Scot Beckenbaugh.
London-based consulting firm Drewry said this contrasts with the preceding five years (2004-08), when operators’ fleet growth outpaced that of the lessors.
The TFA was part of a package of agreements approved at the WTO’s meeting seven months ago in Bali, Indonesia. The agreement, focused on trade facilitation, was expected to reduce trade costs, especially for developing countries.
The company’s ocean transportation business had revenue of $321.1 million in the second quarter of 2014, a 3.6-percent increase, year-over-year, but it had a 4.4-percent decrease in operating income over the same period.
Garamendi Congressman John Garamendi, D-Calif., ranking member of the House Transportation and Infrastructure’s Coast Guard and Maritime Transportation Subcommittee, has introduced legislation that would authorize the Secretary of the Department of Transportation to develop and implement a program to promote the export of liquefied natural gas on U.S.-flag vessels. The bill would also […]
Japan’s three largest shipping companies — NYK, MOL, and “K” Line — reported mixed results for the fiscal first quarter, which ended June 30 for each of the companies.
“The Chong Chon Gang episode, in which the [North Korean government] tried to hide an arms shipment under tons of sugar, is a perfect example of North Korea’s deceptive activity,” according to a Treasury official.
Hunter said Gulftainer is owned by Crescent Enterprises, based in the United Arab Emirates, and that the deal with Port Canaveral “marks the first time a Middle Eastern company will fully operate a U.S. cargo terminal.”
The two companies will introduce and utilize Ports America’s expertise, technology and safety programs at ITS gate, yard and vessel operations, and seek to expand its container terminal business.
The Port of Redwood City in Northern California reported a 19-percent increase in cargo volumes for fiscal year 2013-2014, ended June 30. The port authority said the increase reflects “a significant increase in construction in the Bay Area and the high quality of building materials from British Columbia.” The 12-month figure was […]
Crowley Maritime Corp.’s solutions group has expanded its presence in the Asia-Pacific market by opening a new project-management office in Singapore. William Hill has relocated from Crowley’s Anchorage office to Singapore, where he has assumed the position of director of business development and will manage the office. Crowley said the expansion of […]
Hanjin Shipping reported a 199.8 billion Korean won ($194.6 million) loss in the second quarter, compared to an 80.4 billion loss in the same period last year. Total second-quarter sales were 2.1 billion won, 14-percent lower than the 2.5 billion won recorded in the same 20013 period. The company did record an operating […]
