Ocean carriers are spending heavily on new ships but are less keen to invest in new containers, according to Drewry Maritime Research.
Panalpina’s earnings dipped two percent in the second quarter on sluggish growth in ocean container traffic and a decline in air freight volumes.
The combined impact of rising operating costs and sluggish domestic intermodal volume growth amid intense competition from private rail operators drove state-owned Container Corporation of India’s first quarter net profit down 26.5 percent year-over-year to approximately $32.5 million.
Port Metro Vancouver announced Wednesday that it will invest $12 million to install shore power at the Deltaport and Centerm terminals to reduce harmful diesel emissions from container vessels at berth. The projects, expected to be operational by March 31, 2017, will each eliminate 75 tons of emissions.
The two terminals in Manila that experienced chronic congestion for much of last year are currently just over half utilized and ready for the peak season, according to the Philippine Ports Authority.
Truckload carrier Knight Transportation increased revenue 14 percent in the second quarter to $302 million, despite lower "transactional customer demand." Net profit rose 7.3 percent to $28 million.
UPS reportedly is in talks to acquire fast-growing Coyote Logistics, as round after round of logistics acquisitions this year increase speculation about potential mergers.
Linda Styrk, managing director of the Port of Seattle’s maritime division, is leaving the port to take the position of executive director for the Puget Sound Pilots. Styrk holds a U.S. Coast Guard Third Mate’s License, and she is married to a pilot who guides ships through the Northwest Passage to Alaska.
Hub Group said the intermodal rail service of its two major partners, Union Pacific Railroad and Norfolk Southern Railway, is improving, albeit not fully recovered, delivering a better financial performance than the prior quarter.