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.
ICTSI DR Congo Terminal to commence operations in August
The new facility along the Congo River will serve the container and general cargo shipping sectors, according to a statement from port terminal operator International Container Terminal Services Inc.
Panama Canal ‘inauguration’ still expected in Q2 2016
The expansion of the important Central American cargo gateway to accommodate larger containerships is 96 percent complete, according to the CEO of the Panama Canal Authority.
Norfolk Southern profits fall along with freight volumes
The number four U.S. railway reported net income fell 29.4 percent as revenues dropped 12 percent from the prior year on lower coal, intermodal and general merchandise volumes in fourth quarter.
Broker association urges slowdown in ACE roll out
Importers, brokers and Customs are behind on software integration and testing of CBP’s Automated Commercial Environment and the Feb. 28 deadline for filing entries needs to be postponed to avoid cargo delays in ports, according to the NCBFAA.
CMA CGM increases presence at Reunion Island
The French ocean carrier has doubled the size of its offices on Reunion Island, and plans to make the overseas French department its hub in the Indian Ocean.