Canadian National Railway faces a fine from the Canadian government after failing to obey Ottawa’s order to move a minimum amount of grain weekly.
FedEx Freight, the smallest operating division of FedEx but biggest stand-alone U.S. trucking company, flew higher than the company’s flagship Express division in the last quarter, increasing its operating profit a lofty 70 percent to $168 million on a 13 percent increase in revenue to $1.61 billion.
International intermodal volume growth in North America dropped markedly in August, providing another sign that the lack of a U.S. West Coast longshore contract hangs less on retailers’ necks because the majority of their holiday goods have arrived in the U.S.
Air cargo out of Asia is seeing its first peak season in five years, and better capacity management among cargo carriers is set to push up freight rates into the last quarter.
PierPass, the entity that runs the offpeak program at the ports of Los Angeles and Long Beach, said veteran transportation executive John Cushing will take over as president from Bruce Wargo, who led the organization since its inception in 2004 and who will remain CEO.
As container ships grow steadily larger due to carriers seeking greater economies of scale, ports find themselves struggling to cope with the burdens, being forced into huge investments for deepening and infrastructure that may or may not pay off, according to a senior Port of Long Beach official.
Global Ship Lease has agreed to acquire an 8,063-TEU container ship from a “leading” though unnamed container line for $55 million, according to the container ship charter company.
With the number of laid-up container ships hovering close to three-year lows, vessel owners may enjoy a short-term boost in charter rates this fall, industry analyst firm Alphaliner reports in its latest newsletter.
A powerful U.S. resource that backers say helps many American exporters stay competitive globally will likely survive another nine months after the U.S. House of Representatives granted a funding extension for the U.S. Export-Import Bank on Wednesday. The Senate is expected to vote on a companion bill today.
Japan’s trade surplus with the United States shrank sharply in August, as exports to the U.S. declined while imports surged at a double-digit pace, according to preliminary trade figures released Thursday by Japan’s Finance Ministry.
There really was a Christmas in July this year, at least in terms of increased global container business. That bodes well for North American trucking, intermodal rail and package delivery companies now preparing for an influx of freight ahead of the holiday season.