The Port of Savannah broke the three-million-TEU mark for the first time in its recently ended fiscal year, a new record for the port.
TRAC Intermodal CEO Keith Lovetro says he’s optimistic a “gray” chassis pool can be created for the Port of New York and New Jersey, but that chassis providers should have a say in how the portwide pool is governed.
Positive developments in China’s export space are raising expectations that the recent strong performance of air and ocean cargo volumes will extend into a solid peak season.
Air freight spot rates on Drewry’s East-West Air Freight Price Index made up some of the ground lost in May last month, continuing year-over-year pricing gain trends.
Last winter, congestion at Port Metro Vancouver was so bad that it triggered a month-long strike by hundreds of truck drivers. Four months later, turn times are averaging less than an hour.
AirBridgeCargo Airlines, Russia’s largest scheduled cargo carrier, plans to add more routes and boost frequencies of existing services over the next six months after traffic soared 16 percent to an all-time high in the first half of the year.
Finnlines, a leading Baltic short sea shipping line, today posted its biggest quarterly profit in eight years as it sold surplus ships, axed loss-making routes and disposed of non-core operations.
Spot prices for low-sulfur bunker fuel sank for the sixth straight week last week, a total drop of just over 7 percent.
Transport Corp. of India reported its net income in the first fiscal quarter, from April to June, was $2.7 million.
State-owned rail operator Container Corp. of India has reiterated its confidence in being able to clear the import backlog at Jawaharlal Nehru Port Trust (Nhava Sheva) through greater coordination with all stakeholders.
A rise in traffic from Asia to Mediterranean ports has led to tight capacity and a substantial rise in spot prices.
The Suez Canal’s major deepening project is just over the horizon as crews will start widening and dredging a 34-kiliometer strip in order to improve wait times for vessels using the canal.
When the Nicaraguan government earlier this month approved plans by a Hong Kong-based company to build a canal linking the Pacific with the Caribbean and thus the Atlantic, observers in the maritime industry were largely left scratching their heads.