BNSF Railway’s net first-quarter earnings jumped 44 percent to $1 billion despite West Coast port congestion that pulled down its intermodal volume roughly 5.5 percent in the period.
For the first time in seven years, ArcBest Corporation posted a first-quarter profit, thanks in large part to competitive pricing in spite of diminishing volumes, the company said Monday.
Seattle and Tacoma took a big hit in the first quarter as its market share among Canadian Pacific Northwest ports took a dive amid longshore labor disruption.
Matson’s first quarter operating income quadrupled from a year earlier as the carrier’s niche China-to-U.S. West Coast service continued to benefit from delays afflicting other trans-Pacific carriers.
Trans-Pacific ocean carriers have been digging in their heels to get rate increases in their 2014-2015 trans-Pacific ocean contracts and have been getting increases in some cases, especially on routes from Asia to East Coast ports, but rates negotiated for shipments from Asia to West Coast ports have been flat or lower than last year in some cases when bunker fuel surcharges are included in the rate.
Mark Michaels has been named senior vice president and chief commercial officer at chassis lessor TRAC Intermod
Noting what could be the “new normal” at the ports of Los Angeles and Long Beach, the Marine Exchange of Southern California said Monday there were no container ships at anchor, and none are expected to stop at anchor on Tuesday, either.
INTTRA is moving into a new market: selling data to the beneficial cargo owners that book cargo space through its e-commerce portal, to provide visibility into the movement of containers at every step on their ocean voyage..
German locomotive drivers began near week-long strike Monday afternoon that threatens to clog container yards at the country’s leading ports and cause massive disruption to industrial supply chains across Europe’s largest economy.
Greece is expected to launch the long delayed privatization of the port of Piraeus, a top 10 European container hub, this week as its leftist government reluctantly undertakes reforms demanded by its international creditors.
Capacity additions coupled with higher cargo volumes fueled a 33 percent year-over-year jump in Adani Ports and Special Economic Zone’s consolidated net earnings in fiscal year 2014-15, which ended March 31.
The first major step towards Indonesia’s goal of building a huge maritime network across the island nation will be made later this year when the Indonesia Ports Corporation (IPC) nominates a single contractor to deliver 35 new or improved ports.
An 18 percent injection of capacity on the U.S. East Coast and Gulf routes will put rates under pressure, even as the proportion of all-water cargo rises now that West Coast port operations in the U.S. have returned to normal.