Kuehne + Nagel Q1 earnings up 11.5 percent
Airfreight tonnage rose by more than 20 percent, with strong growth recorded for exports from North America.
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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Airfreight tonnage rose by more than 20 percent, with strong growth recorded for exports from North America.
The Hong Kong-based ocean carrier projects an annual cost savings of $10 million from improved network operations and efficiency.
The second phase of development will increase port capacity by 21 million TEUs by 2027.
Supporters and opponents address proposed changes to labor law.
The self-driving truck startup is striving to deliver dock-to-dock level 4 automation for commercial trucks carrying cargo in the United States and China and has expanded into the port autonomous […]
Fueled mostly by increased e-commerce, Frank Appel says the global logistics services provider is on track to reach an operating profit of U.S. $6.1 billion.
Canadian National posted a net income of C$741 million on revenues of C$3.2 billion for the quarter, down 16 percent and 0.4 percent year-over-year, respectively.
The containership owner and operator said Mark Chu, its general counsel and chief operating officer, will step down effective Aug. 31.
All three of the major container carrier alliances now offer weekly service to the British Columbia port.
Massterly picks managing director and chairman and UPS appoints west region president, while APS Stevedoring names sales and marketing manager and Air Partner hires managing director for its regulatory and […]
The National Marine Fisheries Service on Tuesday announced it will require compliance with reporting and recordkeeping rules of the Seafood Import Monitoring Program beginning Dec. 31.
Results of Endangered Species Act reviews for five species could determine whether endangered and threatened species will remain subject to import and export restrictions.
The U.S. Department of Transportation has opened applications for $1.5 billion in discretionary grant funding through the newly rebranded Better Utilizing Investments to Leverage Development (BUILD) Transportation program.
The final ruling clarifies the process for submitting Kimberley Process Certificates, which must accompany clean diamond exports and imports.
Some carriers allegedly are modifying cargo contract terms because of a lack of trucks at inland locations.
The Class I railway on Friday tendered final offers to the bargaining committees of two unions to renew collective agreements, averting potential strikes that were scheduled to kick in Saturday.
American Association of Port Authorities tells U.S. Trade Representative Lighthizer that sanctions could hurt jobs at ports, tax revenues.
The global logistics software provider, which has made more than a dozen acquisitions since January 2017, unveiled an additional three on Monday, expanding its presence in Latin America and Europe.
The Treasury Department’s Office of Foreign Assets Control on Monday said U.S. companies with business ties to the recently sanctioned aluminum producer and its subsidiaries will have until Oct. 23 […]
The 24-year-old Texas-based company provides logistics and information technology services to rail shippers and short lines.
The Jacksonville Port Authority has named an interim chief financial officer, while Roadrunner Transportation Systems promotes president to the board.
Foreign companies want to invest in U.S. marine terminals, but they face government scrutiny that could curtail or even block their efforts altogether.
Chinese telecom firm ZTE says the Commerce Department’s latest embargo will “severely impact the survival and development” of the company as well as cause harm to its U.S.-based partners.
The February reading of FTR’s Trucking Conditions Index, along with steadily increasing orders for Class 8 trucks and trailers, “reflects an environment for carriers that has never been better,” according […]
Wall Street analysts tracking the Class I railroad said the $639 million still fell short of expectations.
Officials from the French Atlantic port have proposed more than 500 million euros (U.S. $613.5 million) in investments following a 14 percent increase in container traffic in 2017.
But Vietnam’s national shipping company sees growth ahead after public stock offering this summer.
Turkey-based Yilport Holding has started the first phase of dredging the channel to Ecuador’s marine terminal, which it took over in March 2017.
Report says the government will place orders for 200 vessels over the next three years.
The intermodal equipment provider and chassis pool operator has joined the Blockchain in Transportation Alliance (BiTA), an organization dedicated to the development of blockchain for the freight transportation industry.
Matthew M. Sturges formerly was majority staff director for the House Transportation and Infrastructure Committee.
The U.S. Justice Department said Christopher M. Holbrook used excessive force against an individual in Las Cruces, N.M., and then falsified his report.
The Los Angeles Harbor Commission appoints a new president and the Port of Vancouver USA hires a director of economic development, while Acuitive Solutions names its chief operating officer.
The French container carrier and shipping company announced Friday that it had reached a deal to acquire an equity stake of nearly 25 percent of the global logistics company.
The French container carrier and shipping company announced Friday that it had reached a deal to acquire an equity stake of nearly 25 percent of the global logistics company.
Amid posting a 19.3 percent year-over-year drop in net earnings, the Class I railway faces a “potentially devastating” work stoppage.
AutoMobile International Terminal’s vehicle processing roll-on/roll-off facility is expected to be completed by the end of 2019.
The shipping analyst said shipments of soybeans from the United States to China were down by 18 percent or 2 million tons in first two months of 2018.
San Francisco’s Red and White Fleet is running on a biofuel made at a Singapore refinery.
Sweden-based West Atlantic Group will operate the plane, which it expects will “improve reliability, lower aircraft operating costs and provide a better environmental footprint.”
Perishables specialist Streamlines will offer weekly service for containerized reefer cargo from U.S. South Atlantic to North Europe ports.
The freight forwarder and third-party logistics provider increased year-over-year consolidated profits and revenues in Q1 with airfreight volumes inching up amid lower ocean freight volumes.
The U.S. Gulf Coast port handled 9.7 million tons of cargo during the first quarter of 2018, up 2 percent year-over-year, with bulk material and steel being the primary drivers […]
Abu Dhabi Ports in the United Arab Emirates and Jiangsu Provincial Overseas Cooperation and Investment Co. Ltd. of China said 15 Chinese companies have signed agreements.
The Port of Los Angeles appoints deputy executive director of stakeholder engagement, while the Greenbrier Cos. names vice presidents for its manufacturing and leasing operations.
Port of Los Angeles announces deal to lease shipyard to Space X for rocket construction.
Geodis, Delta Drone say their product for automated inventory tracking will be operational by the end of the year.
The first in its class to release Q1 results, the railway reported a 4 percent year-over-year decline in volumes and a sharp drop in headcount.
The Lowell, Ark.-based intermodal and trucking provider saw its profits climb 15 percent to $118.1 million as revenues and intermodal volumes increased 19.6 percent and 6 percent, respectively.
The world’s second-largest contract logistics provider added about 5,000 jobs to its supply chain network during the first quarter.
Premium Transportation Logistics names president, while Wolfe Research appoints new managing director.
Ag secretary slams China’s decision to impose 178.6 percent antidumping levy on imports from the United States.
After 2017 profit, carrier will “continue to explore growth in the transpacific trade despite being a minor player.”
After a successful year of record gross revenues, the global logistics company has earmarked 188 million euros for investment in industrial goods and set its sights on expanding its U.S. […]
UPS appoints president of U.S. operations, while Geodis picks vice president of U.S. sales and ECU Worldwide names regional CEO for India, the Mideast and Africa.
The average price for a gallon of on-highway diesel fuel hits $3.104, with prices the highest in California, according to the U.S. Energy Information Administration.
Container throughput at the Southern California port fell 26.7 percent from the same month a year ago to 577,865 TEUs after a record-setting February.
The most challenging part of the Surface Transportation Board Reauthorization Act of 2015 has been assuming the administrative and information technology functions previously housed under the DOT, according to STB […]
Terminals operated by the Northwest Seaport Alliance handled 302,516 TEUs in March, a 9.6 percent decrease from March 2017.
The Dubai-based third-party logistics provider launches an integrated online service that allows shippers to obtain rate quotes and book their ocean and air freight as well as pay for those […]
U.S. Customs’ rollout of automated processing is expected to widen the use of one of the oldest trade laws on the books.
Container industry wants U.N. group to lead research on how to cut carbon emissions.
West Coast marine terminal operators agree to a flat fee and appointment-based model.
The U.S. Surface Transportation Board wants to understand the relationship between a prospective buyer of tracks in Georgia and Alabama and short-line railroad operator OmniTRAX.
The Department of Agriculture and Office of the U.S. Trade Representative finalized an agreement with Argentina’s Ministry of Agro-Industry to restart pork exports to the South American market.
President Donald Trump on Thursday issued an executive order creating an inter-agency task force that will be responsible for recommending reforms for pulling the U.S. Postal Service out of a […]
Year-over-year TEUs handled climb 14 percent and intermodal rail volumes move up 20 percent in March.
The House Transportation and Infrastructure Committee on Friday introduced legislation to reauthorize the programs of the Federal Aviation Administration.
The mid-Atlantic port handled 38.4 million tons of cargo valued at $53.9 billion during the year.
Construction is under way on Nigeria’s first deep-sea port and the deepest port in sub-Saharan Africa in a project that will help reduce congestion at the nearby Port of Lagos.
Fluxys will operate at quay 526-528 to provide liquefied natural gas to small ships and barges operating in the Belgian seaport.
Northwest Seaport Alliance CEO John Wolfe also told House lawmakers that tens of thousands of jobs in the state could be lost if the United States gets into a full-blown […]
President Trump is asking for budget increases of more than $1.6 billion to combat explosive growth of drug smuggling.
Transportation Secretary Elaine Chao encourages legislative action clarifying the electronic logging device mandate.
Port of Nanaimo processing center will provide another gateway for cars moving into Western Canada.
Air freight volumes at the 20 busiest airports worldwide grew 6.8 percent last year, but the “specter of uncertainty regarding trade policy among major economies” could dampen growth in 2018, […]
The bridges slated for immediate closure are structurally deficient, Gov. Phil Bryant said, and keeping them open could jeopardize the state’s federal infrastructure funding.
The Coast Guard has closed a portion of the river to vessel traffic following an incident in which a Singapore-flagged cargo ship collided with a pier and began leaking diesel […]
The Pacific Northwest port increased its net profit and operating revenues as well as set a tonnage record as steel and dry-bulk imports surged.
The Opfikon, Switzerland-based airport ground and cargo handling services provider will defer its planned initial public offering on the SIX Swiss Exchange due to weak market conditions, the company said […]
Day & Ross has appointed a new president of its freight group, while Air Partner announced the departure of its CFO.
Goal is to reduce emissions by at least 50 percent by 2050 compared to 2008 while pursuing efforts toward phasing them out.
Stakeholders testifying before House lawmakers on Wednesday say the United States should work toward a free trade agreement with China rather than impose tariffs.
California State Sen. Ricardo Lara’s proposed legislation would “exert pressure across the supply chain to protect drayage drivers from further exploitation.”
The world’s largest international shipping association and its partners have developed a standardized communication model they say can reduce administrative tasks at hand by up to 80 percent.
Agricultural industry shippers, who are reliant on the nation’s freight railroads to move their goods, have asked for the expedient confirmation of two Trump administration nominees for the Surface Transportation […]
The Northern California port handled 193,341 TEUs in March 2018, a 2.9 percent decline from the same month a year ago, as loaded imports slumped 1.9 percent and exports dipped […]
The New Zealand port will be closed for several days later this month as its dispute continues with the Rail and Maritime Transport Union.
The Bonn, Germany-based parcel carrier and logistics provider reached an agreement with the trade union Vereinte Dienstleistungs-gewerkschaft (ver.di) that will give its employees more money in 2018 and 2019.
Port terminals operated by the South Carolina Ports Authority (SCPA) handled 168,480 TEUs of containerized cargo for the month, a 4.2 percent year-over-year decline, as the authority began construction on […]
U.S. Transportation Secretary Elaine Chao was one of several cabinet members to sign off on President Trump’s One Federal Decision, a framework agreement for shortening the review and permitting processes […]
Emirates SkyCargo has started an air freight service focused on transporting aircraft parts worldwide for on-the-fly plane repairs.
Qatar Airways this week signed a letter of intent with aircraft manufacturer Boeing to purchase five 777 freighters valued at $1.7 billion.
Shelbyville, Tenn.-based over-the-road trucking company Big G Express entered into an agreement with with SMC³ to use its Transportation Costing Group (TCG) Truckload Cost Information System.
U.S. Rep. Duncan Hunter Jr., R-Calif., told President Donald Trump that he has national security concerns about the global port operator, which plans to lease the port for 50 years.
North American intermodal rates increased another 5.8 percent for the month compared with the same 2017 period, the 18th consecutive monthly year-over-year increase, according to the latest Cass Intermodal Price […]
Growth in domestic truckload rates accelerated to 7.2 percent for the month compared to March 2017, following year-over-year increases of 6.5 percent in January and February, according the latest Cass […]
U.S. Rep. Duncan Hunter Jr., R-Calif., told President Donald Trump that he has national security concerns about the global port operator, which plans to lease the port for 50 years.
The Southern California port saw a 13.8 percent year-over-year increase in container cargo volumes in March to 575,258 TEUs.
The U.S. House of Representatives passed the STB Information and Security Act (H.R. 4921) and the FRA Safety Data Improvement Act (H.R. 4925) on Tuesday.