Meanwhile, shares of CSX saw a bump this week on rumors that Canadian Pacific in January made an offer to purchase the U.S. Class I railway amid its highly public, and thus far unsuccessful, takeover attempt of Norfolk Southern.
Operations management at the number four U.S. railroad will now be run out of two distinct regions as part of a cost-saving initiative designed to stem profit declines.
The commercial telematics company recently unveiled its Falcon GCT3100i product, an asset tracking solution designed to provide shippers with complete visibility into chassis location and load status.
Canadian Pacific has received three letters from rail shippers in support of its proposed acquisition of Norfolk Southern Corp. for every one customer opposition letter, according to a statement from the Calgary-based railway.
Richard Biter says March 1 will be his last day as assistant secretary for intermodal systems development at the Florida Department of Transportation as he is scheduled to undergo cervical surgery.
The Florida East Coast Railway’s online tool is designed to simplify booking between certain destinations in the Southeast.
Rates fell another 2.2 percent in January compared to last year, the 13th consecutive month prices have decreased, according to the latest Cass Intermodal Price Index.
The roll-up third-party logistics provider posted a loss for 2015 due to many acquisition-related costs, but operating performance improved with the help of new logistics contracts, according to CEO Brad Jacobs.
The Ports of Auckland’s net profits surged 9.5 percent year-over-year to NZD$31.6 million for the six months ended Dec. 31, 2015.
The new 147,500-square-foot warehouse is conveniently located near the Port of New York and New Jersey, the New Jersey Turnpike, the Newark International Airport, and other key facilities, such as FedEx and UPS.
Although one terminal operator leaves, there’s development elsewhere in the Port of Oakland.
N.C. port authority expects boost from new intermodal terminal.
Chief Financial Officer of the Jacksonville, Fla.-based railway Frank Lonegro told the Barclays Industrial Select Conference in Miami the company expects a further 20 percent decline in coal volumes in 2016.
More than 2.13 million TEUs moved over the U.S. Gulf Coast port’s docks in 2015, up from just under 2 million TEUs in 2014, and new facilities and infrastructure expansion are expected to support additional growth.
The inland river port experienced a 23.8 percent month-over-month drop in barge tonnage to 112,594 tons in January.
Ahead of Thursday’s Federal Maritime Commission hearing on verified gross mass reporting requirements for containers, the ocean shipping industry still unclear on so many details of how the rule will be enforced.
Meanwhile, a Department of Transportation agency is expected to soon establish a working group to develop a port performance statistics program.
Parcel giant UPS has joined the chorus of voices opposing a tie-up between Canadian Pacific and Norfolk Southern, sending a letter to the U.S. Surface Transportation Board that says a merger would hurt intermodal service levels and increase costs.
The new freight hub will complement Ports of Auckland’s existing facilities in Wiri, South Auckland; Longburn, Manawatu; and Mount Maunganui, a town situated along the Bay of Plenty.
The industrial real estate development and management firm acquired warehousing space in Savannah, Ga. and Suffolk, Va., bringing its total U.S. East Coast portfolio to 9.4 million square feet.
Matt Rose, chairman and CEO of BNSF Railway, said a deal between Canadian Pacific and Norfolk Southern is unlikely because it would require buy-in from investors, rail labor, customers and public policy makers.
Carload traffic dropped 16.6 percent in January, but intermodal traffic grew 3.4 percent compared with January 2015, according to data from the Association of American Railroads.
The short line and regional freight railroad owner and operator Genesee & Wyoming saw net income fall 13.7 percent year-over-year in 2015 to $225 million.
Maritime industry groups are concerned that the 2017 fiscal year budget request from the Obama administration will hurt progress made by ports on infrastructure and the environment.
Although activity slowed slightly in the fourth quarter, total deal value for mergers and acquisitions in the transportation and logistics sector spiked 206 percent from the same 2014 period, according to a new report from PwC US.
Inland Port V, a 654,656-square-foot building at Logistics Park Kansas City, is expected to be completed in June 2016.
The logistics provider and container terminal operator primarily attributed the declines in revenues and EBIT to the economic crisis in Russia and the Ukraine, the slowdown in economic growth in China and ongoing restrictions in the area of infrastructure.
Gilbert “Gil” Ellzey Carmichael, who held presidential-appointed transportation administration posts in the 1970s, died Jan. 31 at his home in Meridian, Miss.
Meanwhile, the intermodal transportation management provider and truck brokerage says it has closed its Hub Group Trucking terminal serving the Los Angeles, Calif. market.
Although domestic container and ISO container volumes increased compared to 2014, trailer volumes declined, according to data from the Intermodal Association of North America.
The third-party logistics provider’s net income increased to $126.58 million despite revenues dropping 4.4 percent to $3.21 billion compared to the fourth quarter of 2014, according to the company’s most recent financial statements.
The Virginia Port Authority has extended its operating control of the Port of Richmond until 2056.
The operating costs of shipping between East Asia and the U.S. East Coast could fall by up to 30 percent because the labor and fuel costs per container are lower on larger vessels, according to industry experts. But the cost savings only apply if a ship is full, Michael Wilson, senior vice president of business […]
Perhaps the biggest threat from volatile financial markets is that the process of planning long-term infrastructure improvements will be sidelined. There is a lot of freight to move around the world. As long as the world population continues to increase and barriers to trade continue to be dismantled by trade agreements, the volume of […]
To clarify, the future of the ocean liner industry isn’t here per se, at least not yet, but we may have gotten a glimpse of it at the end of 2015. French ocean carrier CMA CGM recently deployed the largest ship ever to call a U.S. port for test stops at the California ports […]
Should big ports combine terminals to better handle big ships and the concentrated box volumes they throw off?
The temperature-sensitive truckload carrier’s net income for 2015 surged 19.8 percent year-over-year to $35.7 million.
American Roll-on Roll-off Carrier Group will deploy the roll-on/roll-off vessel Aida as the seventh United States-flagged ship in its fleet.
2015 was a strong year for the Port of Indiana-Jeffersonville, located on the Ohio River in metro Louisville, especially for metal and grain shipments.
The Czech rail operator will launch a direct intermodal shuttle service between Rotterdam, Netherlands and Poznan, Poland Feb. 1.
The multimodal solutions provider unveiled its new short sea connection between Rotterdam, Netherlands and Gjemnes, Norway.
Norfolk Southern Corp. announced a five-year cost cutting and restructuring plan in an attempt to stave off a hostile takeover by Canadian Pacific Railway, but one Senate Democrat says he wants to stop the potential merger in its tracks.
The Canadian port’s $4.1 million rail spur that opened in May made it possible to move steel that arrived by ship out west.
Canadian National Railway reported fourth quarter earnings of C$941 million and full-year profits of C$3.54 billion in 2015, year-over-year increases of 11 percent and 12 percent, respectively, despite a weak rail freight market.
The number four U.S. railway reported net income fell 29.4 percent as revenues dropped 12 percent from the prior year on lower coal, intermodal and general merchandise volumes in fourth quarter.
The Canadian port terminal in Halifax will receive three front end loaders, eight intermodal terminal tractors and five roll-on/roll-off terminal tractors in the second quarter of this year.
The recovery from Winter Storm Jonas, which has already claimed the lives of at least 48 people, is slow and transportation networks are operating at limited capacity.
Trucking and intermodal carrier Swift Transportation held onto profit gains in the fourth quarter and calendar year 2015 even though volumes were down slightly and fuel surcharges were virtually eliminated.
Canadian National Railway has submitted an application to the Canadian Transportation Agency for the approval of its proposed intermodal and logistics hub to be built in Milton, Ont.
MOL (America) names new vice president of area operations, while the Port of Houston Authority announces reappointment of commissioner.
The intermodal and trucking specialist posted a fourth quarter 2015 profit of $116.7 million and earnings per share of $1.01, surpassing analyst projections of $0.99 per share.
Aljex Software names VP of corporate strategy and IICL elects 2016 board, while SOGET appoints CEO and Hansa Heavy Lift picks offshore adviser.
The new service from the Port of Wilmington in North Carolina will connect with Charlotte starting this spring, and an another CSX intermodal hub in Raleigh is slated for a 2019 opening.
The Western U.S. railroad says an uncertain economy, energy markets, plunging commodity prices, and the strength of the U.S. dollar will be continuing challenges in 2016.
The Polish Port, which made numerous investments throughout 2015, handled 35.9 million tons of cargo during the year, an 11.3 percent increase from 2014.
The Northern California port says there is ample capacity to absorb cargo business at other Oakland terminals after a “unilateral” decision to depart by the joint operators of Outer Harbor Terminal LLC.
The Northern California port says there is ample capacity to absorb cargo business at other Oakland terminals after a “unilateral” decision to depart by the joint operators of Outer Harbor Terminal LLC.
The U.S. Federal Maritime Commission has received 13 ocean transportation intermediary license applications and changes for review. The FMC received non-vessel-operating common carrier license applications from Feiliks Global Logistics Corp., Jamaica, N.Y. (Ami K. Wey, president); Hye Mi Express U.S.A., Torrance, Calif. (Kil Soo “Ben” Hur, president); and Sea Marine Transport, Huixquilucan, Mexico (Moises […]
FMC reviews 13 OTI license applications
The Jacksonville, Fla.-based Class I railway’s $272 million “Carolina Connector” project is contingent on securing $100 million in funding from the state of North Carolina.
Rail freight volumes in the United States dropped 2.5 percent year-over-year to 28 million carloads and containers in 2015, according to data from the Association of American Railroads.
Rates fell another 3.8 percent in December compared to last year, the 12th consecutive month prices have decreased, according to the latest Cass Intermodal Price Index.
The Jacksonville, Fla.-based railway reported revenues in the fourth quarter of 2015 fell 13 percent compared to the fourth quarter of 2014 thanks in part to a 32 percent drop in coal volumes.
Norfolk Southern is working to improve efficiency in the face of the Canadian Pacific offer, announcing moves to consolidate management of key coal and intermodal routes in the mid-Atlantic region.
It is unclear, however, whether the aircraft manufacturer has any plans to actually produce the plane.
A dozen rubber tire gantry cranes will be added this year and in early 2017 at Global Container Terminals’ GCT Deltaport terminal in Port Metro Vancouver as part of an intermodal yard reconfiguration project.
The port plans to ban current trucks with 1994-95 engines by 2018 and require new trucks serving port to have 2007 engines or better starting in March.
The Intermodal Association of North America installs 2016 board, while the U.S. Meat Export Federation promotes Japan director.
The Jacksonville,Fla.-based Class I railway is turning over operating management of the intermodal terminal to Ports America in an attempt to improve the efficiency of rail service at the Port of Baltimore.
The refrigerated intermodal services provider added Miami and Toronto as new destinations to its intermodal service offerings from Washington State and Oregon.
Under Seaton’s leadership, ocean carrier APL pioneered industry innovations like larger-than-panamax containerships, doublestack trains, and domestic intermodal service.
Jacksonville, Fla.-based logistics services provider Momentum Transportation – USA, a Landstar agency, has acquired Get Fr8 and expects to benefit from its intermodal capabilities.
A proposal for the development of an inland port in the eastern Pennsylvania town of Bethlehem is being floated by the Port of New York and New Jersey in an effort to relieve pressure on the busiest port on the U.S. East Coast.
Don’t be bashful. When it comes time to negotiate service contracts with the liner carriers this spring, shippers and non-vessel-operating common carriers should go for the lowest rates possible for their container haulage. There’s plenty of capacity to be had on board those new mega-containerships, and shippers and NVOs shouldn’t be compelled to […]
Rates dropped another 2.4 percent in November compared to last year, the tenth consecutive month prices have fallen, according to the latest Cass Intermodal Price Index.
The two high-efficiency “megamax” ship-to-shore cranes, expected to be operational in 2017, will be will be capable of handling the largest vessels in service worldwide.
IAG appoints new commercial executive, while RoadOne Intermodal makes promotions and project44 names president.
Shipment volumes and expenditures both slowed from the previous month and the same 2014 period, but were still “stronger than expected,” according to the latest Cass Freight Index Report.
Intermodal operator Shuttlewise, in cooperation with Novatrans, will commence a rail shuttle between Rotterdam, Netherlands and Dourges, France, which will initially run five times a week.
Major North American railroad stocks have fallen dramatically in the last few weeks as volumes continued to slump in November, driven primarily by a massive drop off in coal and petroleum products.
The U.S.-owned and operated marine solutions, transportation and logistics company added 400 new refrigerated cargo containers to its equipment fleet to accommodate Central America’s heavy northbound reefer season, which is currently underway.
The five-year surface transportation reauthorization includes many elements favored by freight advocates, but some are disappointed that customs fees are being diverted to help pay for the bill.
The proposal includes funding for a Port Commerce master plan and critical maintenance, repairs and upgrades to existing transportation facilities at area airports, seaports, tunnels, bridges and terminals.
The higher than expected decline in domestic coal movements during the fourth quarter of 2015 caused the railway to lower its full-year earnings per share projection.
The third-party logistics services provider purchased private, non-asset truckload brokerage Bear Transportation Services for $26 million.
Transport Corp. of America, a subsidiary of TransForce, has acquired an undisclosed majority stake in Optimal Freight, a privately held non-asset based truckload freight brokerage company.
APL is concentrating six U.S.-flag ships into a single transpacific string, called the Eagle Express (EX1), which will focus on trying to attract commercial shippers needing rapid transits eastbound. The service has some similarities to the CC3 service that APL formerly operated as part of the G6, but Jesper Stenbak, APL’s head of […]
United States gross domestic product (GDP) grew 2.1 percent in the third quarter, according to the Commerce Department’s second estimate, but truck tonnage remains relatively flat amid weak industrial and manufacturing output.
Port of Miami Terminal Operating Company, the only non-carrier affiliated terminal, saw its volumes double to 22,225 TEUs, the largest percentage gain among the three container terminals at the South Florida port.
The Transpacific Stabilization Agreement’s 15 members plan a $1,200-per-FEU rate hike on Asia-U.S. West Coast trade Jan. 1 and want a minimum rate of $1,700 per FEU to the U.S. West Coast in 2016-17 contracts.
Deputy Administrator Manuel E. Benitez says Panama Canal Authority will have better idea in December whether the canal will open in April as now scheduled.
The Columbia Group of Companies is opening a new intermodal chassis depot in Bayonne, N.J. today, with Trac Intermodal slated be the facility’s first customer.
Port Everglades retained its spot as the top container port in Florida, but PortMiami has closed the gap with a 15 percent jump in volumes to 1 million TEUs during the same 12-month period.
The logistics provider and container terminal operator posted revenues of 868.9 million euros for the first nine months of 2015, a 4.2 percent decline from the corresponding period in 2014.
Shipment volumes and expenditures both slowed from the previous month and the same 2014 period, according to the latest Cass Freight Index Report.
Chief Financial Officer Frank Lonegro reiterated the railway’s 2015 financial projections and outlined expectations for key markets in 2016 at the Baird Industrial Conference in Chicago Tuesday.
China’s Ministry of Transport is also concerned about recent growth in shipping surcharges, according to the Federal Maritime Commissioner William P. Doyle, who recently returned from bilateral maritime talks in China.
The infrastructure arm of Brookfield Asset Management has acquired a near 15 percent share in Patrick Stevedoring parent Asciano Limited and still plans to make a majority takeover bid for the Australian transportation company.
The multi-year measure would support infrastructure investment, including a first-time dedicated funding source for freight-related projects, but is only partially funded so far.
Drayage drivers for XPO Logistics, Intermodal Bridge Transport (IBT) and Gold Point in Los Angeles and Long Beach, and Cal Cartage warehouse workers have ended their strike, but protests at Pacific 9 Transportation continue into their 16th week.
