Supply-demand imbalance drags down Cosco’s nine-month profits The normalization of container shipping markets is being accelerated by a surplus of capacity, with predictable results on the profitability of ocean carriers. Supply-demand imbalance drags down Cosco’s nine-month profits Journal of Commerce
Read More →Montreal port gets federal funds for mega-terminal after operators balk at risk
on October 10, 2023in Industry News
Montreal port gets federal funds for mega-terminal after operators balk at risk The Montreal Port Authority said the funding will allow it to “implement a new delivery model” for the Contrecoeur terminal project after talks with initial bidders did not lead to a “satisfactory” result. Montreal port gets federal funds for mega-terminal after operators balk […]
Read More →US retailers downgrade import forecast through January amid sufficient inventories
on October 10, 2023in Industry News
US retailers downgrade import forecast through January amid sufficient inventories With retailers shipping early this year and showing caution in placing orders with Asian factories for holiday merchandise, a major retail group has lowered its forecast for US imports in the coming months. US retailers downgrade import forecast through January amid sufficient inventories Journal of […]
Read More →Typhoon leaves vessel delays in its wake as ports in China, Taiwan reopen
on October 10, 2023in Industry News
Typhoon leaves vessel delays in its wake as ports in China, Taiwan reopen Both Hongkong International Terminals and Modern Terminals confirmed cargo handling operations at their facilities at Hong Kong’s Kwai Chung container port were halted for around 33 hours, gradually resuming late Monday afternoon. Typhoon leaves vessel delays in its wake as ports in […]
Read More →Ex-Tiger Cool executives take second stab at Washington state reefer ramp
on October 10, 2023in Industry News
Ex-Tiger Cool executives take second stab at Washington state reefer ramp Tri-Cities Intermodal said it will revive plans to refurbish a cold storage warehouse and rail ramp served by Union Pacific’s intermodal service. Ex-Tiger Cool executives take second stab at Washington state reefer ramp Journal of Commerce
Read More →Europe to end ocean carrier exemption from EU competition law
on October 10, 2023in Industry News
Europe to end ocean carrier exemption from EU competition law “No longer fit for purpose” was the emphatic conclusion of a European Commission review of container shipping’s antitrust exemption that will be allowed to expire next year. Europe to end ocean carrier exemption from EU competition law Journal of Commerce
Read More →US trucking jobs shrank last month, but far less than expected
on October 9, 2023in Industry News
US trucking jobs shrank last month, but far less than expected Motor carriers may be concerned that in what is still a tight job market, any employees who are let go temporarily would not be available when demand rises again. US trucking jobs shrank last month, but far less than expected Journal of Commerce
Read More →Norfolk Southern ramping up services to West Coast in operational shift
on October 9, 2023in Industry News
Norfolk Southern ramping up services to West Coast in operational shift US exporters had limited options to send westbound freight in recent years under precision scheduled railroading, but railroads are beginning to restore some services in a bid to improve relations with shippers. Norfolk Southern ramping up services to West Coast in operational shift Journal […]
Read More →Estes restoring critical IT systems following cyberattack
on October 9, 2023in Industry News
Estes restoring critical IT systems following cyberattack The fourth-largest US less-than-truckload carrier said it had restored many of its core systems by Sunday, while continuing to pick up and deliver freight despite a week of disruption. Estes restoring critical IT systems following cyberattack Journal of Commerce
Read More →OOCL bucks trans-Pac trend with sharp rise in Q3 volume, but revenue slumps
on October 9, 2023in Industry News
OOCL bucks trans-Pac trend with sharp rise in Q3 volume, but revenue slumps The Cosco subsidiary reported mostly positive volume metrics for both the third quarter and nine months through September, though revenues were down sharply. OOCL bucks trans-Pac trend with sharp rise in Q3 volume, but revenue slumps Journal of Commerce
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