Domestic airports, ports and toll roads will see healthy growth in 2017 “despite longer-term questions brought on by shifting economic, trade and fiscal policies,” according to Fitch Ratings’ latest U.S. Transportation Trends special report.
Matson board names Cox new chairman
The Honolulu-based liner carrier also announced its second quarter dividend, which will be paid on June 1, 2017 to all shareholders of record as of the close of business on May 11, 2017.
FMC reviews 24 OTI license applications
The U.S. Federal Maritime Commission has received 24 ocean transportation intermediary license applications and changes for review.
Costamare’s profit sinks in Q1
The Athens, Greece-based containership leasing company recorded a net income of $23 million on voyage revenues of $105.5 million for the first quarter of 2017, a year-over-year decline of 34.2 percent and 12.3 percent, respectively.
Lufthansa Q1 earnings grounded despite soaring cargo revenues
German airline group posted a net loss of 68 million euros (U.S. $74.2 million) for the first quarter of 2017 compared with an EUR 8 million loss last year, even as revenues in its logistics division surged 18.5 percent from the same 2016 period.
Aramex sees Q1 profits slip despite 7% revenue growth
Dubai, United Arab Emirates-based express carrier and third-party logistics provider Aramex posted net earnings of 91.8 million Emirati dirham (U.S. $25 million) on AED 1.1 billion in revenues for the first quarter of 2017.
Euronav’s Q1 net profit falls nearly 70%
The Independent tanker company recorded a net profit of $34.3 million for Q1 2017, falling 69.8 percent year-over-year, and is expecting challenging freight rate conditions to persist for the remainder of 2017.
Executive Moves: UPS, “K” Line, CargoLogicAir and Great Lakes Dredge & Dock Co.
UPS names president of growth and emerging markets, while “K” Line appoints senior executive officer, CargoLogicAir hires chief financial officer and technical director, and Great Lakes Dredge & Dock names new chief executive officer.
ILWU members to vote on longshore contract extension
The Pacific Maritime Association has proposed extending the contract until July 1, 2022, with a 3.1 percent yearly wage increase over the base wage rate of $42.18 per hour.
Congress to look at joint contracting of tugboat services
The Subcommittee on Coast Guard and Maritime Transportation will hear an argument that foreign carriers should not be permitted to collectively negotiate rates with domestic maritime service providers because it gives them an unfair advantage.