Ingersoll-Rand solidifies Frigoblock acquisition
Frigoblock will become part of Ingersoll-Rand’s Transport Solutions business, which goes to market as Thermo King.
Stay Up to Date on the Cargo Shipping Industry
The outbreak of the COVID-19 pandemic had a negative impact on shipping industry growth in 2020. With the world in lockdown, demand for non-essential consumer goods (and the means to ship them) decreased. Shipment of manufactured goods also decreased as factories closed in an effort to slow the spread of the virus. On top of that, China — one of the world’s largest exporters — was at the center of the pandemic, leading several countries to stop trade with the nation altogether.
According to the United Nations Conference on Trade and Development (UNCTAD), maritime shipping industry growth will likely slow or remain flat in 2023, driven by inflation and the ongoing war in Ukraine. For the overall 2023–2027 period, UNCTAD predicts growth at an annual average rate of 2.1%, slower than the previous 30-year average of 3.3%.
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Frigoblock will become part of Ingersoll-Rand’s Transport Solutions business, which goes to market as Thermo King.
The logistics provider and freight forwarder doubled EBIT and increased gross profits by more than 600% in 2014.
The port authority saw a 4.9% drop in profits due to higher interest charges and depreciation.
The Army Corps of Engineers today awarded a $134.5 million contract to Great Lakes Dredge and Dock Co. for the project.
The Singapore facility will include the company’s first fully automated express parcel sorting and processing system in South Asia.
Disney and Dollar General described their strategies to avoid West Coast port congestion mess at the TPM conference.
Transplace appoints head of new consulting practice, while Sunteck names CIO and Locus Traxx hires EMEA market manager.
Top executives described initiatives to improve flow of cargo off docks at the nation’s two largest ports during the TPM conference in Long Beach.
Environmental advantages of liquid natural gas remain undisputed despite a lack of profitability, according to the commission.
The logistics provider recently implemented a new operating model and launched an independent global Healthcare sector.
A recent Oxford Economics study estimates the overall contribution of the European shipping industry to EU GDP at 147 billion euros for 2013, according to the European Community Shipowners’ Association.
Panama Canal has seen fuller vessels and unscheduled “sweeper” ships moving cargo to the East Coast.
Evergreen Line introduces two new intra-Asia services, Nautilus International/Metro Group breaks ground on its new headquarters in Long Beach, CaroTrans starts LCL service from Shanghai to Atlanta via Port of […]
Capes Shipping hired a new general manager and Walker SCM picked a global business director.
Economist revised forecasts, predicting lower import growth and a second year of declines in exports.
Chairman Gernandt believes some shippers would pay for more reliable transit times.
CN announced the ratification of a four year agreement with the Teamsters-lead union.
The National Defense Reserve Fleet vessel will leave the James River on March 5 for scrapping at Southern Recycling in New Orleans.
The Maersk Garonne was pulled free early Saturday morning, just hours after running aground.
The ocean liner said the ships, scheduled for delivery in 2017, will be deployed in the Asia-North Europe trade.
The international logistics provider and freight forwarder attributed the results to growth in all three of its business units and the acquisition of US-based Jacobson Companies.
Norfolk Southern said James A. Squires will succeed Charles W. “Wick” Moorman as chief executive officer, effective June 1.
Ports believe pool of more than 80,000 interchangeable chassis will help ease West Coast congestion.
Vehicles will arrive at the Delaware port from plants in the Midwest and Canada for shipment to the Middle East.
Sunteck appoints CEO, while Transervice taps Greatwide Distribution CEO for EVP.
On-time performance is being hampered by congestion at West Coast ports.
The revised agreement would allow collaboration on congestion, transportation infrastructure needs and pollution mitigation.
The shipping giant will return profits from the sale to its shareholders.
According to the freight transportation forecaster, lower fuel costs had a positive impact on the index.
Volume increased for the airfreight carrier, but overall yield was down.
Transpacific carriers cite port congestion and stronger demand as economy improves.
The independent containership owner and manager increased revenues by 5.9 percent, but saw profits drop 56.1 percent.
The ocean carrier’s “New Falcon” service will offer direct sailings instead of transshipments through Singapore.
According to the American Trucking Association, the index increased 6.6 percent compared to January of 2014.
Kelly will continue to serve as both president and a member of AFF’s board of directors.
Earnings were buoyed by a 50 percent increase in Maersk Line profit.
The third-party logistics provider announced record results, including a 6.1 percent increase in net profits from 2013.
The ocean liner carrier said business improved across the board.
The cargo consolidator said it will reduce less-than-container load transit times between Rotterdam and St. Petersburg by 11 days.
Hyster Company delivers first Tier 4 container handlers to Port of Los Angeles, Finnair Cargo partners with IAG Cargo and smartphone manufacturer Xiaomi selects CEVA to manage its e-commerce distribution […]
Southern California ports plan continued cooperation to get containers moving.
Union reponds that ICTSI is blaming others for its own mistakes.
NYK completes first voyage of car transport service from Mexico, while Old Dominion expands in South Dakota and Finnair joins IAG’s Partner Plus.
DB Schenker has picked a new Americas CEO and former Port of Portland marketing manager moves over to Oregon’s dairy commission.
U.S. Labor Secretary Thomas Perez announced Friday night the dockworkers’ union and its employers reached agreement on a new five-year contract.
Changes include minimum insurance requirements for railroads and a fund financed by levies on crude oil shippers.
Northern California port shut down briefly after disagreement over labor break time.
Carrier signs 20-year lease in advance of deploying new con-ro ships in the Puerto Rico trade.
Drewry says, however, additional capacity could keep rates in check.
Container Analytics with Ben Meyer Several months ago, this column said the recently formed 2M and Ocean3 vessel sharing agreements (VSA) of Maersk Line and Mediterranean Shipping Co., and […]
Increased funding for ports—not just for marine terminals themselves, but connections via water and land—continue to be a key focus for the American Association of Port Authorities. In […]
Apparel, footwear shippers struggle with West Coast port issues.
“Believe it or not, we deal in perishables,” said Joseph Roisman, executive vice president with Perry Ellis International. Like other apparel companies, Perry Ellis has struggled with congestion at […]
Fast growing U.S. forage exports hit by West Coast port problems.
While the asset-based freight transportation business continues to consolidate into the hands of fewer and larger firms, the non-asset-based counterpart—made up mostly of freight forwarders and non-vessel-operating common carriers—remains […]
Amid the news about port congestion, the Port of Oakland was able to draw our attention to a little good news in February. The Army Corps of Engineers […]
Dewayne Gregoire said he was injured in a slip-and-fall accident while working as a tankerman on Enterprise Marine Services’ vessel, Marie. Like many injured seafarers, he chose to […]
U.S. Labor Secretary Perez announced Friday night the International Longshore and Warehouse Union and Pacific Maritime Association reached an agreement on a new five-year contract.
Ships stacking up at anchorages, off coast, and slowly steaming across the Pacific.
Transit times for less-than-container-load ocean freight shipments will be reduced by seven days, according to the global forwarder.
The North Carolina State Ports Authority is extending its hours at the Port of Wilmington from 7 a.m. until 6 p.m., effective Feb. 23.
The Dutch airport group saw cargo volumes increase by 6.7 percent.
Workers on the railway’s Northern Quebec Internal Short Line agreed to a four-year deal.
West Coast port labor negotiations are now focused on arbitration system.
CMA CGM launches a new logistics platform in Cameroon, Broekman Group becomes Broekman Logistics and Air Canada Cargo adds more capacity in Asia.
NationaLease names a vice president for dedicated services, and ISS appoints new head for marine outsourcing.
The West Coast ports attributed “dramatic” downturn in volumes to congestion and lack of a ILWU labor contract.
Substantial market demand in Portland region exists for exporting and importing goods to and from Asia, says terminal operator.
The U.S. and Canadian governments signed an arrangement to proceed with construction of a new publicly-owned bridge between Windsor, Ontario and Detroit.
Rejected agreement would cover breakbulk cargo, automobiles.
The multipurpose shipping subsidiary of Maersk Line increased sailings on its SAFWAF mpc service from every six weeks to monthly.
The Marjorie C, a container roll-on/roll-off ship, will operate between Hawaii and the U.S. mainland.
U.S. Labor and Commerce Secretaries, along with Los Angeles mayor, met with ILWU and PMA negotiators.
Agility wins contract with ExCeL London, while Saudia Cargo boosts capacity from Nairobi to Amsterdam in February.
Waukegan Port District has named a new manager, while MIQ appoints L.A.-area business development manager.
Labor Secretary Thomas Perez met both parties accompanied by a mediator from the Federal Mediation and Conciliation Service who has been assisting in the talks since early January.
A slowdown in the Chinese economy and cascading tonnage have caused the decline in rates, according to Drewry.
Teamsters and others say 10,000 “misclassified” workers should be eligible for assistance.
Icelandic liner carrier says change will mean less transshipment, more frequent sailings.
The National Retail Federation forecast an increase of 4.1 percent for in-store sales and up to 10 percent in non-store sales compared to 2014.
Atlas Logistics rebrands, while Total Quality Logistics opens new office in Texas.
Union representing engineers, conductors agrees to arbitration.
German shipping company hopes to complete its planned purchase of the Chilean liner company by end of March.
Accident may be another spur to hurry federal regulations for more robust tank cars.
“K” Line subsidiary says the cranes incorporate “soft landing” technology to boost productivity.
CMA CGM takes delivery of two new containerships, and Murphy Logistics opens two warehouses in Kansas City.
Northern California port blames decline on slowdowns resulting from ongoing contract dispute between ILWU and PMA.
The five carriers will change their service to and from North Europe and the Mediterranean by April.
United Arab Shipping Co. says it will partner with CMA CGM and Hamburg Süd.
Agricultural trade associations want European food safety commission to approve import authorizations for 13 new biotechnology products.
Korean Air will add five Boeing 777 freighters, while Globe Express Service expands in France.
Kane Is Able and Virgin Atlantic Cargo appoint vice presidents, while CP’s CFO resigns.
Move comes as ILWU, PMA talks enter 10th month.
Spot rate for 40-foot container moving from Shanghai to the U.S. East Coast estimated to be more than $5,000.
Both sides met Thursday with aid of federal mediator and negotiations are expected to continue on Friday.
The ports said the Washington State Senate proposal will “benefit the state’s economy by speeding the movement of cargo through the ports.”
The railway announced spending plans for Nebraska ($226 million), Minnesota ($326 million), Washington ($189 million), Illinois ($339 Million), North Dakota ($326 Million) and Texas ($223 million).
Singapore liner company says congestion at U.S. West Coast ports cost it $15 million in fourth quarter.
Cathay Pacific handles 1.45 million tons of cargo in first full year, while CEVA Logistics expands in Vancouver, Canada and UTi Worldwide opens new facilities in Malaysia.
CSX names two executives to vice president posts, while Suttons Group appoints a new Americas director.