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The Port of Corpus Christi set a new high mark for annual tonnage, topping more than 200 million tons of goods through the Corpus Christi Ship Channel for the first time in its history.The 203 million tons moved in 2023 was an 8.1 percent increase from 2022. Growth can be attribute to a 12.5 percent jump in crude oil exports, to 126.1 million tons; a nearly 13.5 percent increase in ...
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Eight months after the Brownsville Navigation District Board of Commissioners, or BND, broke ground on the Port of Brownsville’s business park, prospective businesses are lining up to negotiate lease agreements with the port.At a regular board meeting Feb. 7, the board unanimously approved leasing rates ...
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Amidst third-quarter losses, Japanese shipping and logistics company NYK Line anticipates the Red Sea crisis giving lift to its bottom line in its fiscal fourth quarter.NYK Line reported a net loss of US$1.04 billion for its third quarter ending Dec. 31, down US$5.18 billion from ...
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The Mississippi State Port Authority said Feb. 1 it reached a long-term lease agreement between the Port of Gulfport and CORE X GULFPORT that will include constructing a 150,000-square-foot cold storage facility.The lease agreement has an initial term of 60 years with two 15-year renewal ...
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BIMCO, one of the largest international shipping association for shipowners, has established a subcommittee to work on a global standard contract for the transport and installation of offshore wind turbines.The project aims to support the offshore wind industry as global demand for renewable sources of ...
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Multipurpose vessel operator Swire Shipping said Westwood Shipping Lines, a niche vessel operator acquired in June 2022, has integrated and has taken on the Swire Shipping name.Westwood Shipping operates between the Pacific Northwest and Northeast Asia, and Swire Shipping’s acquisition was part of the Singapore-based ...
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Dallas-based motor carrier Sterling Transportation said its Dallas terminal is now an official container freight station.The 14-door CFS is located in Coppell, Texas, just north of Dallas-Fort Worth Airport. The 54,600-square-foot warehouse has more than 8,000 pallet positions, and is available for short- and long-term ...
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Singapore-based shipping line Ocean Network Express, or ONE, reported a sharp downturn in revenue, earnings and profit for the most recent quarter.The shipping line saw a third-quarter loss of US$83 million, a significant decrease from the year-earlier quarter’s profit of US$2.79 billion. Revenue fell 46 ...
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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 ...
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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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