Brazil could see yet another major container terminal rise in the south of the country, benefiting shippers but ratcheting up the already fierce competition between the eight existing terminals already operating in the region and the six in the Port of Santos, only 202 nautical miles north.
Singapore-listed logistics property developer GLP has made its second multi-billion dollar investment this month, acquiring a $4.55 billion U.S. logistics portfolio from Industrial Income Trust a week after leading a consortium of investors in establishing a $7 billion China-focused infrastructure fund.
If U.S. shippers feel less pain when it comes time to pay freight bills this year, they can thank the worldwide oil glut. With the third quarter under way, the very significant impact of the collapse in oil and fuel prices over the past year on U.S. freight transportation is clear.
A slew of acquisitions helped Roadrunner Transportation increase truckload revenue. The company's LTL revenue, volume and tonnage dropped, but profits climbed.
Matson plans to invest roughly $30 million in upgrades and new equipment into the new Alaska services it acquired from now-defunct Horizon Lines in May.
The lingering effects of a 2013 acquisition also pulled down second-quarter profits at truckload carrier Heartland Express.
U.S. trucking companies continue to make more from less, with Saia, the 10th-largest U.S. less-than-truckload carrier, reporting bigger second-quarter profits on reduced revenue and tonnage.
Port Canaveral this week broke ground on what will soon be the port’s first multimodal inland facility, part of the Florida port’s ongoing campaign to snag container traffic from other U.S. East Coast ports.
The Long Beach Board of Harbor Commissioners Monday elected Lori Ann Farrell Harrison as its new president. The commission president chairs board meetings and represents the port before the public.
Los Angeles-Long Beach is moving slowly toward a dual system of drayage in which some drivers are becoming unionized employees, while others prefer to remain independent contractors. Eventually, the result could be a sufficient pool of drivers to serve the 13 container terminals in the largest U.S. port complex, resulting in service and pricing consistency for the shippers that depend on harbor drivers.
C.H. Robinson reported higher net revenues on land and sea as shippers apparently turned to the largest U.S. logistics company to secure capacity in the second quarter. The acquisition of Freightquote last year contributed to higher net revenue and higher truckload and LTL volumes.
The Port of Townsville is set to receive a $403 million berth upgrade that will allow the northeastern Australian port to handle Panamax vessels, highlighting the movement of the majority of Australia’s trade from its southern to its northern ports.
Finnlines posted its best second quarter result in a decade as cost cuts offset the impact of a flat Baltic short-sea shipping market.