Maersk and UASC have both signed agreements to work with Qatar Liquefied Gas Co. and Royal Dutch Shell Plc to develop liquid natural gas as a maritime fuel.
Executive Moves: d’Amico International Shipping, Holland & Knight and NRF
d’Amico International Shipping appoints CFO, while Holland & Knight names senior counsel and NRF picks Loss Prevention Council chairman.
Matson Q1 profits shrink 27.6% on weak demand for Chinese cargo
The Jones Act carrier saw volumes on its single eastbound transpacific string from China drop 18.1 percent in the first quarter 2016 compared with the same 2015 period.
South Korea’s Daewoo Shipbuilding posts $23m Q1 loss
The world’s second largest shipbuilding company attributed the operating loss of 26.3 billion won in the first quarter of 2016 primarily to costs associated with completing offshore oil projects as crude prices continued to plummet.
NAFTA trade values continue to slide in February
The total value of cross-border freight between the United States and North American trading partners Canada and Mexico slipped 2 percent year-over-year following a 7.7 percent drop in January, according to the Bureau of Transportation Statistics.
STB aims to mandate weekly performance reports from Class Is
The U.S. Surface Transportation Board has filed a supplemental notice to a proposed rulemaking that would require Class I railroads and the Chicago Transportation Coordination Office to submit weekly data reports on service performance.
Expeditors Q1 earnings dip 9.5 % amid challenging market environment
The Seattle, Wash.-based global logistics provider’s revenues, which industry advisory firm Stifel said were hindered by lower air and ocean rates, tumbled 15.4 percent year-over-year to $1.4 billion for the quarter.
NOAA: PortMiami dredging project severely damaged coral reef
A report by the National Oceanic and Atmospheric Administration (NOAA) concluded that the dredging at the Port of Miami caused damage to the area’s coral reef.
Executive Moves: Maersk Line, American Waterways Operators and Greencarrier Freight Services
Maersk Line names HR chief, while the American Waterways Operators elects chairman and vice chairman and Greencarrier Freight Services appoints COO.
CEVA narrows Q1 loss despite revenue decline
The non-asset based supply chain management provider posted a net loss before taxes of $35 million for the first quarter of 2016, compared to a $77 million loss the previous year, despite revenues dropping 11.8 percent year-over-year to $1.57 billion.