News

United States gross domestic product increased 2.1 percent in the fourth quarter of 2016, according to the “third” estimate from the Department of Commerce, up from a previous estimate of 1.9 percent.

Japanese ocean carrier Mitsui O.S.K. Lines has purchased a 20.9 percent share in PKT Logistics Group, a provider of end-to-end logistics solutions, including freight forwarding, customs brokerage, contract logistics, haulage and distribution.

Yusen Logistics Turkey has merged with İnci Holding subsidiary İnci Lojistik to form a new joint venture company, Yusen İnci Lojistik, which will begin operations on April 1, 2017, the companies said in a joint statement.

Crane Worldwide Logistics hires vice president of global sales, while Danish Shipowners’ Association appoints director for European Union affairs.

The German ocean carrier is citing benefits from its planned merger with United Arab Shipping Company, but Reuters has reported a “snag” in those plans.

“The potential here is phenomenal. The match between what blockchain offers and the industry pain points is incredible,” says Bridget McDermott, vice president of Blockchain Business Development for IBM. So what exactly is blockchain? 

Blockchain is a relatively new term used to describe a series of distributed databases that act as a tamper-proof, verifiable ledger. As with any new technology, blockchain has its own terminology. Here is a listing of some of the most important terms and their meanings.

The Seattle-based e-commerce giant’s acquisition of SOUQ.com, the largest online retail and marketplace platform in the Arab world, is expected to close some time in 2017.

Future safety gains in the freight transportation industry “are being held back by government red tape that stifles innovation and improvement,” according to a new report from the Competitive Enterprise Institute.

Annualized driver turnover rates at large truckload fleets fell another 10 percentage points to 71 percent in the third quarter of 2016, the lowest level since the second quarter of 2011, according to the American Trucking Associations.

The largest port on the U.S. East Coast saw containerized cargo volumes tick up 1.2 percent to 507,066 TEUs in February 2017, a record for the month, according to the most recent figures from the port authority.

John Urban, who is a founder and former president of GT Nexus, served as an executive with APL and was also president of domestic intermodal carrier NPSC.

The Chicago-based freight broker and supply chain management company introduced the scholarships to support women in the supply chain and logistics industry.

The third-party logsitics company’s Americas division has carved out a group to create a host of customized transportation services, including cross-border, forward inventory handling, and managed transportation solutions.

The Atlanta-based parcel giant added four stations in China, and one station each in Poland and Germany to its full and less-than-container load multi-modal rail service between Europe and China.

NYK Group Europe appoints chief executive officer and chief operating officer, while Capes Shipping Agencies hires general manager.

Florida East Coast Railway Holdings Corp. will be acquired by GMéxico Transportes S.A. de C.V. for $2.1 billion.

Florida East Coast Railway Holdings Corp. will be acquired by GMéxico Transportes S.A. de C.V. in an all cash transaction.

While most people assume that drones will someday be making home deliveries, there are other possibilities including droids and even mobile parcel lockers. Whatever method or combination of methods are chosen, though, last-mile delivery may never be the same.

The port terminal operator arm of the recently merged China COSCO Shipping saw earnings tumble 42.5 percent to $247 million for the full year in 2016 despite a 1.2 percent increase in revenues compared with the previous year.

Silicon Valley-based Turvo’s platform launched Tuesday, allowing shippers, brokers and carriers to work together in real-time across the entire supply chain.

The Prevent Labor Union Slowdowns (PLUS Act), S.702, is sponsored by Senators Jim Risch, R-Idaho; Mike Crapo, R-Idaho; and David Perdue, R-Ga.

The e-commerce giant may have competition in its bid for Dubai-based online retailer Souq.com, however, as Emaar Malls has submitted a competing offer, according to reports from multiple media outlets.

The North Carolina Department of Transportation is holding public hearings this week to discuss two proposed projects that would eliminate seven road-level crossings on a CSX rail line in Wake Forest and Raleigh.

Omaha, Neb.-based Class I freight railroad Union Pacific is combining its Pocatello service unit leadership with its Portland and Utah units and reassigning five management positions to other locations, the company said in a statement.

The airfreight carrier saw volumes rise 1.8 percent to 218,000 metric tons during the year despite a reduction in revenues caused by route changes driven by passenger demand, according to John Lloyd, senior vice president of cargo at Virgin Atlantic.

Canadian National Railway said loaded import containers arriving via its rail network from the ports it serves on the West, East and Gulf coasts will arrive in Duluth, and empty containers can then be used by exporters to ship their goods to world markets.

Starting March 26, 2017, Air France KLM Martinair Cargo began offering direct connections between Paris and Accra, Ghana, as well as Amsterdam and Freetown, Sierra Leone; Monrovia, Liberia; Cartagena, Colombia; and Minneapolis, Minn.

The Hellenic Republic Asset Development Fund said last week the launch of the tender evaluation process would begin immediately.

Shippers exporting goods to Asia have experienced a large drop in available slots for containers with almost every shipping line, according to the European Shippers’ Council.

Given the Pacific Northwest port’s importance to the region’s economy, the open chief executive officer position must be filled quickly, according to Jordan Royer, vice president in the Seattle office of the Pacific Merchant Shipping Association.

New, direct rail connections link Germany to eastern and southern Europe.

Greencarrier Freight Services appoints chief executive officer, and Alaska Airlines names vice president of airport operations and customer service.

The U.S. Gulf Coast port is looking to balance out its container import/export imbalance, and leverage its intermodal connections.

The ranking member of the House Transportation and Infrastructure Committee introduced the Investing in America: A Penny for Progress Act, which aims to raise roughly $500 billion in transportation infrastructure funding via 30-year Treasury bonds.

The nationwide trucker and third-party logistics provider said it hopes to raise between $281 million and $359 million with the initial public offering, and provided details on how it plans to use the proceeds.

The Rhenus Group has acquired a 40 percent shareholding in ocean vessel owner and manager ARKON Shipping GmbH & Co., according to a joint statement from the companies.

U.S. District Court Judge Katherine Forrest found the parcel giant and third-party logistics provider violated state law by transporting hundreds of thousands of cartons of untaxed cigarettes into New York City from lower-tax areas.

The Port of Houston’s port commission approved contracts for the design of the Wharf 3 rehabilitation at the Barbours Cut Container Terminal and for the design of Container Yard 7 at the Bayport Container Terminal.

South Korean shipyards exited the business of making cranes a decade ago because of stiff compeitition from Chinese makers.

Federal Maritime Commission Acting Chairman Michael A. Khouri said the updated carrier agreement library will help people save time and money.

YRC Worldwide appoints chief information officer, while CenterPoint Properties names eastern region senior vice president and Actisense hires operations supervisor.

Promoters of a plan to connect the Alaska Railroad to the rest of the North American rail system say it could create new opportunities to exploit natural resources in the Far North and improve the lives of Canadians and Alaskans in remote inland locations.

In this week’s edition of The Week in Trucking, the trucking industry gets an audience with President Donald Trump, drivers may not be needed in California, are robots are set to take over warehousing and FMCSA pulls a controversial safety-focused rule.

The Hong Kong-based third-party logistics provider increased earnings in 2016, and looking ahead, expects to complete the acquisition of a controlling stake in a Dubai-based freight forwarding group in May.

However, rates from Shanghai to Europe and the Mediterranean both fell 0.5 percent since last Friday.

Crane Worldwide’s services include air, ocean, trucking and customs brokerage, which are expected to boost DAVACO’s global reach and ability to support brand initiatives directly from the manufacturing plant.

CSC, a large U.S. refined sugar importer and exporter, has commenced a new packaging and distribution operation at the Port of Brownsville this week.

However, the global port operator increased container throughput by 5.5 percent from 2015.

Star Cool CA+ was established to extend the market reach of sensitive, low-respiring perishables, building on Maersk Container Industry’s Star Cool CA system for high-respiring fresh produce.

Ocean carrier Trailer Bridge is offering an additional service from the Port of Jacksonville’s Blount Island Marine Terminal to the Dominican Republic’s Santo Domingo port.

Rep. John Delaney, R-Md., this week filed two bipartisan bills that would fund the rebuilding of ailing U.S. transportation infrastructure with revenues from a one-time bond sale to U.S. corporations and long-term international tax reform.

As many drivers and small fleets worry about the impact on productivity and cost with the upcoming mandate to install electronic logging devices, one overlooked aspect is what impact ELDs will have on their insurance rates. 

Korea Development Bank, DSME’s largest shareholder and main creditor, and the Export-Import Bank of Korea said they would provide funds to boost the shipbuilder’s cash flow and convert its liabilities into equity to cut debt.

After falling in 19 of the previous 21 months, railway employment levels in the United States in February 2017 ticked up 0.28 percent from the previous month, according to recent data from the U.S. Surface Transportation Board.

The Athens, Greece-based containership lessor has entered into a Securities Purchase Agreement with Kalani Investments for the sale of up to 150,000 newly designated series B-1 and B-2 preferred shares, according to a statement form the company.

The Port of Savannah’s Garden City terminal received the first of four new neo-Panamax ship-to-shore cranes, and the remaining three will arrive by late April.

The airfreight carrier’s cargo volumes from Europe to Asia Pacific jumped 23 percent in the first two months of 2017 thanks to “widely reported” capacity constraints in ocean shipping, according to David Shepherd, commercial director at IAG Cargo.

The Washington State Supreme Court decision affirmed an appellate ruling that found the port’s lease with Vancouver Energy for a proposed crude oil transfer terminal complies with the State Environmental Policy Act (SEPA).

The express airfreight carrier division of FedEx Corp. will commence a new freighter service between subsidiary TNT Express’ air hub in Liège, Belgium, to the FedEx World Hub in Memphis, Tenn. in early April 2017, the company said in a statement.

The global seafood supply chain is a complex one, and is challenged by various headwinds that can be costly to the industry.

Since the dawn of the shipping industry, brokers, carriers and shippers have struggled with rate price swings, sometimes due to conditions outside their control, such as weather or politics. TransFX, a Chattanooga-based company located in Freight Alley, is trying to help change that by offering “freight futures contracts.”

Panelists at JAXPORT conference wade through weighty trade and domestic policy issues facing freight world

The Memphis, Tenn.-based integrator posted a net income of $562 million on revenues of $15 billion for the third quarter of its fiscal year 2017, which ended Feb. 28, year-over-year increases of 10.8 percent and 18.1 percent, respectively.

One intermodal chassis provider, however, the North American Chassis Pool Cooperative, will maintain its current pricing for both pool and premium chassis despite increased labor costs and inventory and fleet enhancement efforts, NACPC said in a statement.

Shipment volumes for the month grew 7 percent from January and 1.9 percent from February 2016, according to the latest Cass Freight Index Report.

Meanwhile, Crowley Maritime Chairman and CEO Tom Crowley said the company will receive three ship-to-shore gantry cranes at its Isla Grande Terminal in Puerto Rico, and two cryogenic tanks at its LNG bunkering facility being built at Jaxport.

The partnership has designated Lineage Logistics as the exclusive third-party logistics provider to manage customers’ food and beverage supply chains using BluJay’s transportation management solution.

​​Canadian National Railway (CN) and the International Brotherhood of Electrical Workers (IBEW) System Council 11 have tentatively agreed to renew their labor agreement covering around 700 signals and communications employees in Canada.

The seasonally adjusted For-Hire Truck Tonnage Index slipped 0.1 percent compared with the previous month to a reading of 138.7, following a revised 2.9 percent increase in January, according to the American Trucking Associations.

DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem met with Panama President Juan Carlos Varela to explore logistics and industrial parks, and other opportunities relating to the expanded Panama Canal.

The New York City-based startup said the booking system allows carriers to reduce deadhead miles, wait times, and time spent searching and negotiating for a load.

Port of Portland, Ore. hires marine marketing director, while IFCO North America appoints director of food safety and quality.

The U.S. Department of Justice served several container shipping lines with subpoenas last week in Sausalito, Calif., where their top executives were attending industry meetings.

As the next generation of the Fuller and Quinn families take on leadership roles of U.S. Xpress, data is becoming more important than ever. Eric Fuller, who succeeds his father Max as CEO, says that technology is poised to change the industry in ways never before imagined.

The AAPA and CAGTC have issued separate statements decrying President Donald Trump’s proposed 2018 discretionary budget, which would eliminate funding for the Transportation Investment Generating Economic Recovery (TIGER) grants program.

Roughly 18 percent of Union Pacific employees have been trained on positive train control operations, including engineers, conductors, dispatchers, maintenance of way engineering, mechanical, signal, telecom and information technology workers.

Seaspan Chief Financial Officer David Spivak said liner companies want to deal with larger charter owners, which could benefit Seaspan, since its 9 percent share of the global leased containership fleet is the largest of any independent owner.

Amazon is planning to offer China-based sellers the ability to ship their goods internationally as air cargo, but it is not clear whether the retail giant would be booking airspace via other carriers or flying its own planes.

Truckload pricing slipped another 0.8 percent for the month compared to February 2016, the 12th consecutive month of year-over-year declines, according to the latest Cass Truckload Linehaul Index.

In the latest reminder of the safety concerns surrounding these batteries, a woman was injured on a recent flight from Beijing to Melbourne when her battery-powered headphones exploded while in use, according to the Australian Transport Safety Bureau.

The Dubai, United Arab Emirates-based port terminal operator posted a profit of $1.13 billion on $4.16 billion in revenues for the year, increases of 27.6 percent and 4.9 percent, respectively, from 2015.

Intermodal pricing in February 2017 increased 4.9 percent compared with the same 2016 period, just the fifth year-over-year increase since December 2014 and the largest since January 2012, according to the latest Cass Intermodal Price Index.

Crowley Maritime Corporation signed a multi-year stevedoring and terminal services agreement with Penn Terminals to accommodate its weekly Northeast container shipping service to and from Puerto Rico.

The third-party logistics services provider has acquired a two-story, 177,000-square-foot warehouse near Singapore’s Changi International Airport for about $18.25 million.

Kansas City Southern (KCS) said in a statement it “respectfully disagrees” with a preliminary report from Mexico’s Federal Economic Competition Commission (COFECE) that found a lack of competition between KCS and other operators in the country.

The European Commission has re-adopted a cartel decision against 11 air cargo carriers and imposed fines totaling more than 776 million euros (U.S. $834.44 million) after the EU competition watchdog’s initial decision was annulled on procedural grounds.

Spain’s Popular Party pushed for the law-decree by arguing it was needed to comply with European standards and anti-trust rules, but critics said it would lead to worse labor conditions for dock workers.

A recent opinion and order stemming from the litigation resulting from the 2012 explosion and fire aboard an MSC containership highlighted the roles of intermediaries and documentation in the transport of dangerous goods.

The Georgia Ports Authority handled 330,539 TEUs in February, with total cargo tonnage reaching 2.94 million tons, year-over-year increases of 7.7 percent and 10 percent, respectively.

This summer the company says it will delivery in three days or less on 20 million eligible items, and that millions will offer free shipping.

Paperless solutions provider essDOCS said eCertify will continue to operate as a separate company, but will be supported by essDOCS’ global footprint.

The National Transportation Safety Board names acting chairman, while American Airlines Cargo appoints managing director of Florida, Caribbean and Latin America and 10-4 Systems names board chairman.

Each week, the industry sees the introduction of new technologies and regulations along with information that affects how each carrier, shipper, and 3PL operates. Each Friday, FreightWaves will provide a look back at some of the industry’s top stories you may have missed. 

In addition to a 13 percent cut in funding for the U.S. Department of Transportation, a 2018 budget proposal released yesterday by President Trump’s administration would completely eliminate the TIGER grant program and privatize air traffic control.

​​Canadian Pacific Railway and the United Steelworkers Local 1976 have reached a tentative five-year labor agreement covering around 600 administrative support and intermodal employees in Canada.

Rates from Shanghai to Europe declined 4.7 percent since last week, from $859 per TEU to $819 per TEU, while rates from Shanghai to the Mediterranean fell 4.3 percent, from $838 per TEU to $802 per TEU.

Four people were reportedly hurt in gun battle that ensued when a boat tried to provide a small bunkering tanker with supplies.

The short line railroad, which serves the ports of Los Angeles and Long Beach, is testing locomotives to verify compliance with EPA Tier 4 standards.

Major seaports in the United Kingdom handled 117.2 million metric tons of freight in the fourth quarter of 2016 and 473.5 million metric tons for the full year, according to preliminary figures released by the U.K. Department for Transport.