TRAC Intermodal CEO Keith Lovetro says he’s optimistic a “gray” chassis pool can be created for the Port of New York and New Jersey, but that chassis providers should have a say in how the portwide pool is governed.
If the negative portrayal by China’s state broadcaster of the proposed 2M tie-up between Maersk Line and Mediterranean Shipping Co. this weekend has official backing, it could be an indication of internal political pressure to shield Cosco and China Shipping Container Lines from a stronger competitor.
U.S. containerized imports in June showed substantial year-over-year growth, as labor negotiations on the West Coast seem to have induced an early ocean container shipping peak season.
The Port of Savannah broke the three-million-TEU mark for the first time in its recently ended fiscal year, a new record for the port.
Positive developments in China’s export space are raising expectations that the recent strong performance of air and ocean cargo volumes will extend into a solid peak season.
Spot prices for low-sulfur bunker fuel sank for the sixth straight week last week, a total drop of just over 7 percent.
Transport Corp. of India reported its net income in the first fiscal quarter, from April to June, was $2.7 million.
State-owned rail operator Container Corp. of India has reiterated its confidence in being able to clear the import backlog at Jawaharlal Nehru Port Trust (Nhava Sheva) through greater coordination with all stakeholders.
A rise in traffic from Asia to Mediterranean ports has led to tight capacity and a substantial rise in spot prices.
The Suez Canal’s major deepening project is just over the horizon as crews will start widening and dredging a 34-kiliometer strip in order to improve wait times for vessels using the canal.
When the Nicaraguan government earlier this month approved plans by a Hong Kong-based company to build a canal linking the Pacific with the Caribbean and thus the Atlantic, observers in the maritime industry were largely left scratching their heads.
Fresh from acquiring U.S. truckload carrier Transport America, Canadian trucking giant TransForce is offering nearly C$500 million for Contrans, a publicly owned Woodstock, Ontario-based holding company specializing in bulk, flatbed, and tank trucking.
TNT Express today posted improved second-quarter results, driven by an ongoing restructuring program, cost cuts and a continued recovery at its previously loss-making Brazilian business.