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.
FedEx and TNT Express said they still expect to merge in the first half of 2016 despite the European Commission’s decision to launch an in-depth investigation of the US firm’s 4.4 billion euro ($4.8 billion) acquisition of its smaller Dutch rival.
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 Kelang 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.
China’s HNA group is in a bid battle for Avolon, one of the world’s largest aircraft lessors, just days after agreeing the $2.8 billion acquisition of Swissport, the world’s largest airport cargo handler.
London Gateway wants shippers to use its new common-user facility as a testbed for trying out innovative logistics solutions, said it implementation director Graeme Clarke.
Cargo thieves in the U.S. target food shipments above all other cargoes. Although some shipments aren’t particularly high-value, others such as temperature-controlled pharmaceuticals, seafood, beef and alcohol can be worth hundreds of thousands of dollars. And reselling these commodities on the gray market puts consumers at risk.
The recovery at YRC Worldwide is gaining traction, as the company's regional and national subsidiaries reported stronger profits based on better pricing and freight mix. The company appears poised to emerge from eight years of annual losses, but executives warn its journey isn't over yet.
The U.S. congressional watchdog’s conclusion that the Federal Motor Carrier Safety Administration has limited ability to evaluate its controversial hours-of-service rules fuels the fight between the top U.S. trucking lobby and the U.S. Department of Transportation.