Rickmers Group has reiterated its 2015 results forecast in response to the recent slump in its corporate bond.
A 30-year terminal industry veteran will head Modern Terminal’s Hong Kong facility, the terminal operator’s crown jewel, as the port faces intense pressure from Pearl River Delta competitors and transshipment rival Busan.
Yusen Logistics Co.’s net profit more than doubled in the first nine months of the fiscal year ending in March on a year-over-year basis thanks to solid revenue growth, particularly overseas, and a negligible extraordinary charge.
The Port of Gothenburg’s container traffic declined by 2 percent in 2015 in contrast to a 3 percent increase in total freight handled by the largest Scandinavian cargo hub.
In an increasingly uncertain container shipping market, price volatility is one of the few entirely predictable things left, was Drewry’s wry assessment of the wildly fluctuating freight rates on East-West trades.
Orders for conventional refrigerated ships outpaced scrappings in 2015 for the first time in years but conventional vessels will continue to lose market share to reefer ships during the next decade, says Dutch shipping consultantcy Dynamar.
The Georgia Ports Authority grew import volumes through Savannah at rates far exceeding its Southeast competitors and the U.S. as a whole, in large part by attracting big-box retailers such as Home Depot, Target and IKEA to establish import distribution centers nearby. But forces coming to bear on the retail industry, including e-commerce and a relentless need to drive out costs, are changing the picture at Savannah.
New York-New Jersey port terminals began resuming operations Friday night after a wildcat strike by the International Longshoremen’s Association.
XPO Logistics is moving rapidly to reorganize the less-than-truckload business acquired from Con-way last fall, cutting back-office and management positions while rolling out new technology for dockworkers and truck drivers.
Landstar System expanded its capacity in the fourth quarter to its highest level yet, 9,500 owner-operated tractor-trailers. A softer freight market meant lower revenue per truckload, however.