Spot container rates from Shanghai to Northwest Europe and the Mediterranean rose by 115.0 percent and 146.5 percent, respectively, last Thursday compared to Friday, Dec. 25.
Chinese port groups partner on terminal development
Hebei Port Group and Tianjin Port Group have signed a framework agreement to purchase and operate port cargo facilities in each of their respective port areas.
Momentum Transportation acquires fellow Jacksonville intermodal service provider
Jacksonville, Fla.-based logistics services provider Momentum Transportation – USA, a Landstar agency, has acquired Get Fr8 and expects to benefit from its intermodal capabilities.
Ruscon increases container handling 6.3% in 2015
The Russian container transport company handled 113,387 laden containers during the first 9 months of 2015, an increase of 6.3 percent from the corresponding period in 2014.
Kerry Logistics opens new IT development center
The Hong Kong-based logistics services provider opened an IT development center in Penang, Malaysia today.
GRI Roundup: CMA CGM and Hapag-Lloyd
Ocean carriers CMA CGM and Hapag-Lloyd issued general rate increases.
Canada fines railways $6.8m for surplus grain revenues
The Canadian Transportation Agency has ruled Canadian National and Canadian Pacific exceeded their Western grain revenue entitlements for crop year 2014-2015 and will be required to repay the difference.
Executive Moves: UPS and Diaz Trade Law
UPS appoints new general counsel, while customs and trade lawyer starts new firm in Miami.
El Faro investigators may return to scene of wreck in second effort to find ‘black box’
The National Surface Transportation Board found the bridge of the ill-fated TOTE Maritime Puerto Rico general cargo vessel a half mile away from the rest of the wreck after it was sheared off when the ship sank in Hurricane Joaquin.
First U.S. oil exports in decades ring in the New Year
Texas-based oil firms ConocoPhillips, NuStar and Enterprise Product Partners are racing to see who will be the first to export oil from the United States after Congress lifted the 40-year-old ban earlier this month.