Freight News
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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Global freight forwarder DSV reported changes to its executive board and group executive committee, as part of its long-term succession planning.Jens H. Lund, current group COO and vice CEO of DSV A/S, has assumed the role of group CEO, while Jens Bjørn Andersen steps down ...
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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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The Port of New Orleans Board of Commissioners voted Jan. 18 to expedite the St. Bernard Transportation Corridor, a roadway for St. Bernard Parish that will connect the new US$1.8 billion Louisiana International Terminal (LIT) to the interstate system.The board authorized Port NOLA President and ...
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The Port of New Orleans said it has been awarded a federal grant for an additional US$226.2 million towards the building of the Louisiana International Terminal, or LIT.The U.S. Department of Transportation awarded the funding through the competitive grant program for Infrastructure for Rebuilding America ...
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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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A.P. Moller Maersk held a naming ceremony for the Ane Maersk, the world’s first large methanol-enabled container vessel, at the HD Hyundai Heavy Industries shipyard in Ulsan, South Korea.The Ane Maersk is the first of 18 large-methanol-enabled Maersk vessels to be delivered through 2025. It ...
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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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