The transaction will finance the construction of the first nuclear power plant on the Arabian peninsula, which upon completion will number among the largest nuclear-generating facilities in the world.
Third party logistics services provider UTi Worldwide has appointed Richard G. Rodick to executive vice president of finance and chief financial officer, effective Oct. 1. Rodick succeeds Lawrence R. Samuels, who will assist him during the transition. Since 2007, Rodick has served as senior vice president of finance for Broadridge Financial Solutions, […]
APM Terminals said it’s acquiring 37.5 percent of the public company Global Ports for $862.5 million, thereby entering the Russian market in a strategic partnership with the leading Russian transportation group, N-Trans. By buying the stake in Global Ports, APMT becomes an equal controlling partner in the leading operator of container terminals in Russia. […]
An antitrust investigation of five car carriers that started in Japan Thursday has been expanded to include requests for information by government authorities in the United States, Canada, and Europe.
Financial services firm Hancock Holding Co. has appointed Deborah Conrad to vice president. Conrad, who spent most of her 35 years in international banking with the U.S. Export-Import Bank, will provide Hancock’s Whitney Bank and Hancock Bank financial guidance for businesses looking to access federal export finance assistance. She joined Whitney and […]
The Georgia port handled a record 2.98 million TEUs in the fiscal year which ended June 30, but faces increased competition from nearby Charleston. Savannah plans to hold the lead by deepening its harbor channel for bigger ships.
To skip sailing positions from Asia in October, the ocean carrier Maersk Line has added an additional vessel to two of its three weekly services between Asia and West Africa, increasing roundtrip voyage time by one week on each loop. The carrier added a 13th vessel to its FEW2 loop, further increasing roundtrip voyage time from […]
After nearly seven months on a 10-week rotation, the ocean carrier Maersk Line has added an 11th vessel to its weekly Asia-Europe loop AE9, further increasing roundtrip voyage time from 70 days to 77 days in order to skip a sailing position from North Europe in September. Transit times eastbound from Europe to Asia on […]
The International Longshoremen’s Association and U.S. Maritime Alliance (USMX) have agreed to resume negotiations during the week of Sept. 17 at the request of a federal mediator.
With a federal mediator now tapped, the New York Shipping Association’s head is more hopeful that talks between the ILA and USMX may lead to a new master contract and not disruption to U.S. East and Gulf coast port operations.
Kirby Corp., the nation’s largest domestic tank barge operator, said it has entered into an agreement to purchase the assets of Allied Transportation Co., a subsidiary of Allied Marine Industries, and two affiliated companies. Allied is an operator of offshore barges and tugboats participating in the coastal transportation of petrochemicals, as well as […]
The ocean carrier has converted its North Europe and Mediterranean-to-West Africa WAF6 service into an exclusive West Africa feeder based on Maersk’s West-Mediterranean hubs in Tangiers, Morocco and Algeciras, Spain.
One industry analyst who asked not to be identified was surprised Japan antitrust authorities were investigating the car carrier companies, noting their long-time dominance of the business and close ties to the auto industry in Japan.
Non-vessel-operating common carrier Vanguard Logistics Services has expanded its presence in Central America through its new office in San Jose, Costa Rica. “After consolidating our presence in South America and Mexico, the next logical step was to institute a strong and visible Vanguard presence in Costa Rica,” said Hal Donahue, Vanguard’s regional managing […]
Canadian National Railway said it will acquire more than 2,200 new freight cars and 1,300 containers in 2012 to support traffic growth and improve customer service. Jean-Jacques Ruest, executive vice president and chief marketing officer, said the new equipment is for “a range of markets, including forest products, metals, minerals, coal, iron ore, steel, consumer […]
Stephen Edwards has been named president and chief executive officer of GCT Global Container Terminals Inc., effective Sept. 10. He succeeds Michael E. Moore, who left the company in June. Edwards was president and CEO of Ports America, the largest terminal operating and stevedoring company in the United States, from 2007 to […]
Groups representing companies in the apparel and luggage industry are calling on the International Longshoremen’s Association (ILA) and their employers to resume labor negotiations, noting their members could face chargebacks from retailers . Talks on a contract to replace one that expires at the end of this month ended abruptly two weeks ago. […]
Centurion Cargo has appointed Paul Berntsen to vice president of the Europe, Middle East and Africa region. Berntsen, a 20-year air cargo veteran, will be based in the company’s Amsterdam office. Centurion Cargo, formerly Challenge Air Cargo, is based at Miami International Airport and currently operates a fleet of 10 MD-11 freighters.
As Americans celebrated Labor Day, there was still no sign of a thaw in the frozen labor negotiations between the International Longshoremen’s Association and employers of its members. East Coast ports prepare for the worst.
The ocean carrier Maersk Line has added a second (northbound) port call at Abidjan, Côte d’Ivoire, a new call at Conakry, Guinea and an additional vessel to its weekly WAF2 service between hub ports in the West Mediterranean and West Africa. Simultaneously, it has sped up its parallel WAF3 loop for a second […]
