With its management flexibility constrained by a fractured ownership structure, SEKO Logistics has brought in a private equity partner to recapitalize its balance sheet, transform its many local joint venture owners around the globe into shareholders and provide the resources to grow through acquisitions.
Work slowdowns and port congestion associated with the 2014-15 coastwide longshore contract negotiations continued to haunt West Coast ports in April, with total container volume down 6 percent from April 2014 even though the slowdowns had ended in February.
Fesco’s first-quarter earnings rose 5.4 percent as cost savings offset a slump in container volumes resulting from a fragile Russian economy and a depreciating rouble.
PeopleNet, a trucking technology company owned by $2.4 billion Trimble, last week purchased Cadec Global, a pioneer in fleet management technology. The acquisition underscores growing demand for end-to-end mobile computing networks among shippers and transport operators.
Short-sea ship operator Qatar Navigation Lines has introduced a dedicated container feeder service between India and the Middle East.
An APM Terminals executive said the company remains committed to development of a large Black Sea terminal at the Georgia port of Poti, which the terminal operator purchased four years ago.
Ethiopian Airlines has begun a four-fold expansion of its air cargo terminal in Addis Ababa as Africa’s largest carrier improves the freight-handling ability of its hub to support a growing global reach.
China and South Korea have cleared the way towards implementing a free trade agreement later this year that will eventually scrap duties on 90 percent of the goods traded between the two nations.
Operations at the Port of Houston were largely unfazed — though officials are investigating some damage to equipment — after the torrential rain and flooding that swept through Texas last week.
In the latest sign of the challenge facing Asia-Europe carriers to make money in the busiest global shipping lane, the G6 Alliance said it would cancel two sailings, citing low demand. Yet canceling individual sailings will likely do little to quell analysts’ view that significantly more capacity, such as entire services, would need to be suspended in order to meaningfully impact supply and demand in the Asia-Europe market.
"Virtual" less-than-truckload carrier Shift Freight is reaching further into the Midwest, building lanes and serving destinations in Ohio and Michigan.
In its new mega-ship order announced on Tuesday, Maersk Line took a conservative road, achieving a 7 percent capacity increase in ships of almost identical hull dimensions to its Triple-E class. In the process, it is showing how carriers are not automatically opting to build ever-larger ships to push the boundaries of economies of scale.
The Long Beach Board of Harbor Commissioners approved an $829 million budget for the fiscal year starting Oct. 1, which includes $555 million for port expansion and improvement projects.