The Montreal, Canada-based plane and train manufacturer saw revenues slip 6.7 percent year-over-year to $4.31 billion due to tepid demand for business jets and startup costs related to production of its new C Series commercial aircraft.
Shippers urge ILWU, PMA to start contract negotiations
Trade organizations representing shippers and transportation organizations on Monday sent a letter to ILWU President Robert McEllrath and PMA Chairman and CEO James McKenna, requesting discussions begin on either a contract extension or a new contract.
U.S. meat exports see mixed results in June
However, U.S. beef export volumes to Japan during the month reached the highest amount in nearly two years, totaling 25,836 metric tons.
Port of Wilmington, N.C.’s turning basin project reaches completion
The expanded turning basin project, which allows the port to handle post-Panamax vessels with a length of 1,150 feet and a breadth of 158 feet, involved the removal of an existing bulk pier and dredging along the port’s side of the Cape Fear River.
BNSF earnings continue to contract in 2016
Berkshire Hathaway-owned BNSF Railway Co. reported a net income of $772 million in the second quarter of 2016 and $1.56 billion in the first half of the year, decreases of 19.8 percent and 22.5 percent, respectively, from the previous year.
U.S. transportation sector hiring rebounds in July
Transportation and logistics companies added 11,700 positions last month, following a revised decrease of 6,700 jobs in June and a 4,500-job gain in May, according to recent preliminary data from the U.S. Department of Labor.
Agility’s profits rise 11% in Q2
\However, Agility’s Q2 revenues slipped 6 percent year-over-year to 309 million Kuwaiti Dinars, as its Global Integrated Logistics business posted a 10 percent year-over-year drop in revenues from lower shipping and fuel rates in the market.
China COSCO secures $18b in financing from China Ex-Im Bank
Under the agreement, the Chinese Export-Import Bank will provide financial support, consultation, overseas investments, and equity acquisition to the newly merged shipping conglomerate to help the company optimize its fleets, among other things.
Kia taps Cordele Intermodal Services to handle Georgia parts shipments
Under the new partnership, the state’s first inland terminal will handle up to 30,000 TEUs annually for Kia Motor Manufacturing Georgia to supply the automobile manufacturer’s plant in West Point, according to a statement from Georgia Gov. Nathan Deal.
GRI Roundup: Maersk, CMA CGM and Hapag-Lloyd
Ocean carriers Maersk Line, CMA CGM and Hapag-Lloyd announced rate increases on several trades.