Rather than being a loss for the Port of Oakland, the pending departure of Outer Harbor Terminal will be an economic plus to the port complex because it will concentrate more revenue-producing container volume into fewer marine terminals in order to fund their growth, Executive Director Chris Lytle said at the weekend.
Tight cost controls coupled with low fuel prices helped trucking giant Transport Corporation of India post healthy results in the third fiscal quarter, according to a company filing with the Bombay Stock Exchange.
The Panama Canal Authority is shooting to open its third set of larger locks that can handle post-Panamax ships in May, but it doesn’t expect the larger locks to attract new services for several months.
Singapore Post’s steady expansion into e-commerce and logistics lifted the company’s nine-month net profit by almost 18 percent to $101.9 million from April through October, with 40 percent of the revenue coming from overseas.
The International Air Cargo Association (Tiaca) has urged the U.S. Transportation Security Administration to clarify recent updates to air freight carried on passenger planes and freighters from several Middle Eastern countries.
Echo Global Logistics revenue and net revenue in fourth quarter rose on the the company’s recent acquisition of Command Transportation, but related integration costs dragged down profit by double digits.
Lower freight volumes drove YRC Freight to a loss in the fourth quarter, but the loss wasn’t enough to erase gains the less-than-truckload carrier made throughout the rest of 2015.
Freight rates in the trans-Pacific edged lower this week as the final shipments left Asia before factories there shut down for two weeks for the Chinese New Year celebrations. Even larger declines in freight rates could take place in the coming weeks.
Japan’s government has drawn up the drafts of guidelines and revised ministry ordinances, which contain penalties and variation between the verified gross mass and actual weight of a container, for the smooth implementation of the International Maritime Organization's looming Safety of Life at Sea, or SOLAS, container weight rules.
Efforts to improve chassis quality and availability in the Port of New York and New Jersey are inching forward despite the long delay in the launch of a common chassis pool, a Port Authority of New York and New Jersey official said.