Effective tomorrow, filers must file entries for cargo release and corresponding entry summaries for quota merchandise.
Union Pacific’s Q2 net income plunges 19%
The Class I railroad’s net income and operating revenues fell 19 percent and 12 percent year-over-year, respectively, in Q2 2016, as the strong U.S. dollar on exports and weak demand for consumer goods continues to put strain on the company.
Port of Philadelphia gains new CEO
The Philadelphia Regional Port Authority’s board of directors has named Jeff Theobald as its new chief executive officer, replacing James T. McDermott, Jr.
Port of Rotterdam’s volumes decline
The European port’s breakbulk segment posted higher volumes year-over-year in the first half of 2016, while the container, dry bulk and liquid bulk segments experienced declines.
FTR: June truck trailer orders lowest since 2009
United States truck trailer net orders totaled 11,900 units in June 2016, a 10 percent decrease from May and a 56 percent drop from the same 2015 period, according to freight transportation analyst FTR.
Fallout from Kazakhstan terror attacks could cause cargo delays
The recent killing of four people in Almaty, the country’s largest city, and resulting anti-terror campaign will likely result in heightened inspections and shipment delays, according to a recent client note from logistics management group Move One.
FedEx first U.S. airfreight carrier to Cuba
The U.S. Department of Transportation has granted FedEx’s uncontested application to the rights to operate a five-times-weekly freighter service between Miami, Fla. and the city of Matanzas in Cuba.
IMF downgrades global growth projections
The International Monetary Fund is forecasting the global economy to increase at a 3.1 percent pace in 2016 and 3.4 percent in 2017, both down 0.1 percentage points from previous projections.
Judge awards over $1m in damages to Horizon whistleblower
Captain John Loftus, who was fired in 2013 after working for Horizon Line for 20 years, has been awarded $655,000 in back wages, $225,000 in punitive damages, $10,000 for emotional distress, and more than $200,000 in legal costs.
CP earnings decline 16 percent in Q2 2016
Canadian Pacific Railway Limited posted net income of $328 million Canadian (U.S. $251 million) in the second quarter of 2016 on revenues that slid 12 percent to C$1.45 billion compared to the same 2015 period, according to the company’s latest financial s