Hawaiian shippers frustrated with high freight rates had their hopes for change dashed last week after a U.S. federal court rejected their bid to strike cabotage provisions from the U.S. Merchant Marine Act.
Contship Italia, Italy’s largest container terminal operator, has signed a strategic memorandum of understanding with Sina Port and Marine, Iran’s biggest port company, to take advantage of moves by the U.S. and the EU to ease sanctions following the nuclear deal with Tehran.
With carload volume, particularly coal shipments, declining and railroads’ enviable profit growth slowing, the acknowledgement shared during second-quarter earnings calls that intermodal has lost share to truck reflects not only the dynamism of surface transportation but a rare case in which railroads must step up their game or lose valuable business.
For most ports on the U.S. West Coast, late 2014 and early 2015 was a year of seemingly-unending congestion and slumping cargo traffic. Not so at California’s Port of Hueneme, which just reported its highest cargo year in its 78-year history.
Amidst very real concerns about hackers taking control of trucks and automobiles, a new report from the FreightWatch International Supply Chain Intelligence Center says cargo thefts from trucks have actually declined.
ArcBest rode a company-wide wave of freight demand in the second quarter, with less-than-truckload carrier ABF Freight System and asset-light subsidiaries increasing revenue and profit. The asset-light businesses, however, grew faster than the asset-based LTL division.
Woo Ye-jong has been tapped to lead the Port of Busan in its effort to become an even larger transshipment hub, succeeding Lim Ki-tack who has been elected as the International Maritime Organization's next secretary-general.
Trade ministers failed to cinch up a deal between a dozen Pacific Rim nations Friday, what could have been their last chance to negotiate the terms of a Trans-Pacific Partnership before the end of the year.
The Port of Halifax, Nova Scotia, may be getting a new lease on life. On Monday, the CMA CGM Vivaldi docked at the Halterm Terminal in Halifax, Nova Scotia, with a cargo of containers from China, Vietnam and Malaysia for import into Canada and outbound containers for the ship’s next ports of call — New York, Norfolk and Savannah. The ship then would return to Port Klang via the Suez Canal.
Two container ships at Port Klang, Malaysia, collided, sending containers and debris into the harbor.
The slowdown in China’s economy poses some risks for container shipping, according to Drewry Maritime Research.
Japanese international freight forwarder Yusen Logistics Co. returned to profit in the first quarter of fiscal 2015, which started April 1, thanks to robust revenue growth and the end of heavy losses caused by an antitrust lawsuit in the United States.
Transport Corporation of India posted a 17.4 percent jump in net profit in the first fiscal quarter, primarily on the back of strong gains from its freight division.