IAG Cargo posted lower revenue and reduced volumes in the first quarter as the carrier continued to feel the impact of its exit from freighter operations.
Gulftainer said it handled 19,561 20-foot-equivalent units of containers in 54.4 hours on a single call at its Khorfakkan Container Terminal in at Sharjah, United Arab Emirates.
The Federal Maritime Commission is helping to lead the charge to fight port congestion and to improve the competitiveness of U.S. ports.
Cargolux’s net profit was squeezed to $3 million in 2014 from $8.4 million in 2013 by a $40 million impairment on its 747-400 freighter fleet and a provision for potential anti-trust fines.
Idle containership capacity had crept up to 345,000 20-foot equivalent units, or 1.8 percent of the world fleet of vessels above 500 TEUs, as of April 20, Alphaliner reported.
The Philippines, one of the world’s fastest growing economies, wants to be known within the maritime industry for being more than the No. 1 provider of commercial seafarers.
But the ports should recoup much of their lost market share next year and beyond if they address their congestion and labor problems, speakers at the Port of Long Beach Pulse of the Ports breakfast said Wednesday.
The softening U.S. truckload spot market and more balanced capacity point to shippers seeking to secure more trucks from asset-based contractual partners.
U.S. imports of electrical goods in dollar value terms expanded 6.3 percent in 2014, the fifth consecutive annual expansion, partly because of a strengthening consumer sector. The trade outlook for 2015 looks positive, with import value expected to increase 5.9 percent, reaching an approximately $330 billion.
Norfolk Southern Corp.’s earnings fell 16 percent in the first quarter on weak intermodal volumes and a struggling coal market, the company reported Wednesday.