The Indian federal government has approved a special-purpose company with equity participation of all major ports to implement rail connectivity projects aimed at improving supply chain services.
Hapag-Lloyd, Germany’s biggest container line, slumped to a net loss of 603.7 million euros [$652 million] in 2014 largely due to the one-off cost of acquiring and integrating Chilean carrier CSAV.
The slow season continued to exert its negative influence on spot rates across major east-west trades, with Asia-Mediterranean leading the way down this week and hitting lows not seen since October 2013, according to the latest reading of the Shanghai Containerised Freight Index (SCFI).
A year before its scheduled completion of a $5 billion-plus expansion, the Panama Canal Authority is discussing the idea of building even larger locks to allow head-to-head competition with the Suez Canal.
The Nigerian government has closed its ports, including Lagos, and land borders, and won’t open them until midnight Saturday to allow for “the peaceful conduct of the (presidential) elections.”
Maersk Line has kick started its $15 billion ship investment program with its first order in more than four years for seven ice-class container vessels.
Gulftainer’s goal to triple volume over the decade through aggressive investment came a step closer in 2014 after the terminal operator increased handling 8 percent year-over-year.
The Port of Virginia is shifting three rubber-tire gantry cranes to the newly reopened Portsmouth Marine Terminal to handle overflow from larger terminals, and expected to have two of the yard cranes ready for use today.
Members of Baltimore’s largest International Longshoremen’s Association voted to end 18 months of uncertainty b