Business
Liner carrier Hapag-Lloyd, which recently announced the Gemini Cooperative with A.P. Moller - Maersk, reported a significant decrease in earnings in its 2023 financial year.Group EBITDA was US$4.8 billion, compared with US$19.4 billion for fiscal 2022, which the company attributed to lower freight rates due to the normalization of global supply chains, and the results were expected.Revenue fell to US$19.4 billion, from US$34.5 billion in the year earlier, due to ...
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The U.S. Department of Transportation said it will distribute more than US$728 million for 37 projects that aim to bolster the nation’s freight infrastructure.The funds are available under the Bipartisan Infrastructure Law’s Mega Program and the Infrastructure for Rebuilding America Grant Program.The Mega Program, known ...
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Cargotec’s Board of Directors have approved a demerger plan, announced in April 2023, for all assets, debts and liabilities related to the Kalmar business.Cargotec’s board said separating the entities “could unlock shareholder value by allowing both businesses to pursue sustainable profitable growth opportunities independently.”Kalmar is ...
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Despite a strong December, container volumes handled at Port Houston in 2023 fell 4 percent to 3.8 million TEUs, short of the port’s record-setting year in 2022.The decrease was attributed to a large drop in empty repositioning volumes, the port said, while its strong exports ...
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North American third-party logistics provider Kenco Group has acquired The Shippers Group, a Dallas-based third-party warehousing company.
Chattanooga, Tennessee-based Kenco said the deal provides increased capacity, broader geographic reach, and an expanded suite of services. Terms of the acquisition are not being disclosed.
The Shippers Group, led ...
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Enstructure, a U.S. marine terminal and logistics company, has agreed with the Jacksonville Port Authority to lease and develop 79 acres of waterfront property at JAXPORT’s Tallyrand Marine TerminalEnstructure is parent company of Jacksonville-based Seonus Stevedoring, a JAXPORT tenant for 27 years, that operates 35 ...
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The U.S. Federal Maritime Commission will hold an informal public hearing on Feb. 7 to examine how conditions in the Red Sea and Gulf of Aden regions are impacting commercial shipping and global supply chains.The FMC is seeking input from supply chain stakeholders on how ...
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The U.S. Department of Energy has established request for proposals for uranium enrichment services.The RFP is for establishing a reliable domestic supply of fuels using high-assay low-enriched uranium, or HALEU, a crucial need for smaller, more versatile nuclear reactors.“HALEU is not commercially available from U.S.-based ...
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Atlas Air Inc., a subsidiary of Atlas Air Worldwide Holdings Inc., said it has taken delivery of a Boeing 777 Freighter, which it will operate on behalf of customer MSC Mediterranean Shipping Co. SA, as part of a previously announced long-term ACMI (aircraft, crew, maintenance, ...
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4D Supply Chain Consulting, or 4D, and Logiswift, an end-to-end supply chain software solutions provider, have reported a collaborative partnership.Under the agreement, 4D will become the distributor of Logiswift’s advanced supply chain execution tool, expanding it into the U.S.Initially a foundational operational support tool, Logiswift’s ...
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