Port commissioners have scheduled meetings to discuss the termination of the Outer Harbor Terminal lease agreement and potential plans by port terminal operator TraPac to expand into the vacated facility.
U.S. further loosens export controls for Cuba
The Commerce Department’s Bureau of Industry and Security and the Treasury Department’s Office of Foreign Assets Control have announced further regulatory amendments to expand the types of U.S. goods allowed for export to Cuba.
Algeria prepares for major shipping port
The new port, which will be situated just 60 kilometers west of the capital city of Alger, will be equipped with 23 quay berths with an overall quay length of 6,320 meters.
Second new LNG-powered TOTE containership delivered
The Perla del Caribe, the sister ship of world’s first containership fueled by liquid natural gas, is expected to enter service for TOTE Maritime Puerto Rico next month.
Great Lakes iron ore shipments tumble in January
A total of 2.16 million tons of iron ore were shipped on the Great Lakes and St. Lawrence seaway in January, a 22 percent year-over-year decline.
Halterm Container Terminal invests in new equipment
The Canadian port terminal in Halifax will receive three front end loaders, eight intermodal terminal tractors and five roll-on/roll-off terminal tractors in the second quarter of this year.
FedEx to launch 25m share repurchase program
The parcel courier’s prior repurchase authorization for 15 million shares, announced in September 2014, has been completed, leaving around 272 million outstanding common shares as of Jan. 25, 2016.
CN bucks freight rail trend, ups profits in 2015
Canadian National Railway reported fourth quarter earnings of C$941 million and full-year profits of C$3.54 billion in 2015, year-over-year increases of 11 percent and 12 percent, respectively, despite a weak rail freight market.
TQL expands into Miami
Cincinnati, Ohio-based freight brokerage firm Total Quality Logistics’s new office in Miami, Fla. is scheduled to open March 21.
Executive Moves: YRC Freight, SEKO Logistics, MARS and Volga-Dnepr Airlines
YRC Freight names VPs and SEKO Logistics picks head of aerospace vertical, while MARS elects 2016 officers and Volga-Dnepr Airlines appoints global directors.