Israeli carrier Zim Integrated Shipping Services sharply narrowed its net loss to $127 million in 2014 from $343 million in 2013, with the turnaround accelerating in a strong final quarter.
China Merchants Holdings (International), the mainland’s largest port operator, reported a 7.4 percent increase in net profit during 2014 when it handled 80.84 million 20-foot containers at its global terminals to record a volume growth of 13.4 percent.
Thai Airways exited the freighter business this week, unable to benefit from the robust volumes on U.S. routes being generated by its Asian peers and without the scale of capacity required to drive a profitable air cargo network.
Several of the world’s top shippers have signed up to the Green Freight Asia (GFA) initiative that aims to lower the carbon footprint of land transport while driving lower logistics costs into the regional supply chain.
America’s roads and bridges are “in a ditch” and the country’s infrastructure are in dire need of a long-term funding mechanism, U.S. Transportation Sec. Anthony Foxx said Monday as he unveiled the details of his administration’s new transportation reauthorization proposal.
Terminal operators in Los Angeles-Long Beach are beginning to reduce the vessel backlog built up during the longshore labor negotiations, raising the possibility that the largest U.S. port complex will be back to normal before mid-to-late May as originally expected.
The Egyptian government expects to meet its goal of completing the $4 billion widening of the Suez Canal within a year, allowing shippers to access a second channel by August.
Officials at the Panama Canal on Monday were still working their way through a significant vessel backlog after an “unusual” increase in the number of ships awaiting transit began to back up outside the waterway weeks ago.
HHLA’s operating profit jumped 10 percent in 2014 as it handled record volumes of containers at its three Hamburg terminals.
2015 Directory of Warehousing Service Providers