Genesse & Wyoming has agreed to acquire 95 percent of the shares of Freightliner, the UK’s second largest rail freight company, in a £490 million ($760 million) deal that significantly expands the US rail operator’s European footprint.
Kuehne+Nagel in 2014 became the largest non-vessel operating common carrier serving the overall U.S. import market, knocking longtime leader Expeditors International out of the top spot, according to PIERS, a sister product of JOC.com within IHS.
Merely suggesting that U.S. domestic ships might be built overseas is enough to jeopardize U.S. orders for ships in Jones Act trades, U.S. Maritime Administrator Paul “Chip” Jaenichen told a congressional budget hearing Wednesday.
The last two months of U.S. West Coast congestion appear to have cemented many shippers’ plans to divert cargo to other ports, according to a recent JOC.com survey.
Rep. Janice Hahn, D-Calif., urged the Federal Maritime Commission to investigate the Pacific Maritime Association’s “unilateral” curtailing of night, weekends and holiday hiring of dockworkers during recent West Coast longshore contract negotiations.
The port of Savannah will add 10 electric-powered rubber-tired gantry cranes this summer, increasing the number of RTGs in the port’s container yard operations to 146. The RTGs continue a pattern of heavy investment that is credited with helping the port sidestep congestion that has plagued other ports.
Brazilian officials are struggling to end an eight-day protest by truckers that threatens exports of a key Brazilian crop, soybeans. The truckers are blocking roads in 10 Brazilian states, delaying deliveries to ports.
Kuehne+Nagel posted a new record result in 2014 driven by a return to profit from its inland division and what it described as dmarket-beating growth in sea and air freight traffic.
APM Terminals restated its target of booking a $1 billion net operating profit after tax in 2016 as it emerged as the Maersk Group’s top performing division last year.