Box volumes at the largest U.S. East Coast port were up 11 percent year-over-year in October, driven primarily by a 9.8 percent spike in loaded import containers.
U.S. gives green light to FedEx-TNT merger
FedEx Corp.’s biggest hurdle to its acquisition of Netherlands-based TNT Express, however, is still to come, as the deal will still require approval from the European Commission.
Port of Houston projects growth from booming plastic resin exports
The U.S. Gulf port also expects to benefit from continuing population migration to Texas and the expansion of Panama Canal, which is scheduled to be completed in April 2016.
Mixed bag for U.S. economy causes drag on freight sector
United States gross domestic product (GDP) grew 2.1 percent in the third quarter, according to the Commerce department’s second estimate, but truck tonnage remains relatively flat amid weak industrial and manufacturing output.
Port of Long Beach to consider reducing container free time
Industry groups said they are willing to work with the port to speed cargo through POLB, but expressed concern about how the plan might affect shippers, who want to pick up containers faster but say getting chassis and trucking capacity can be difficult.
Ag secretary Vilsack hopeful on China trade prospects
U.S. Agriculture Secretary Tom Vilsack said at the conclusion of the JCCT meeting Monday that China indicated it will review 11 biotechnology applications and continue the dialogue on U.S. beef.
PortMiami October box volume rises 11.6%
Port of Miami Terminal Operating Company, the only non-carrier affiliated terminal, saw its volumes double to 22,225 TEUs, the largest percentage gain among the three container terminals at the South Florida port.
Obama nominates Daniel B. Maffei to become Federal Maritime Commissioner
Maffeir, a former U.S. Representative for New York, will take the place of current Commissioner Richard A. Lidinsky, Jr., according to a statement from the White House.
OOCL launches new intra-Asia service
The Hong Kong-based ocean carrier will launch its standalone KTX8 loop, which connects Japan, China and Taiwan with Thailand and Vietnam, next week.
Eimskip reports strong Q3 results
The Icelandic liner carrier posted net earnings of 8.5 million euros on operating revenues of 129.7 million euros for the third quarter of 2015, year-over-year increases of 12.7 percent and 8.5 percent, respectively.