Port of Houston Authority is ready for increased demand

GlobeNewswire | February 24, 2015 | Ports & Terminals | Ports | Container Port

The Port of Houston Authority is ready to provide cost-efficient and consistent solutions to cargo owners and logistics companies, Executive Director Roger Guenther said today in his monthly report to the Port Commission. Read More »

Fed chief warns against grafting currency rules onto trade deals

Reuters | February 24, 2015 | International Trade

Federal Reserve Chair Janet Yellen warned Congress against a bid to crack down on currency cheats and said adding currency rules to trade deals could hobble monetary policy. Read More »

US raises concerns over ‘made in Indonesia’ smartphone law

Reuters | February 24, 2015 | International Trade

The United States is pressing Indonesia to relax local-content rules it believes will handicap efforts of tech firms such as Apple to expand into one of the world’s last big markets where demand for high-end smartphone has yet to really take off. Read More »

Japan-US TPP talks are behind schedule

Reuters | February 24, 2015 | International Trade

Japanese Economy Minister Akira Amari said that talks between Japan and the United States on a trade deal are running behind schedule. Read More »

Cuban cigar maker eyes 25-30% of US market if embargo lifted

Reuters | February 24, 2015 | International Trade

Cuban cigar-maker Habanos S.A. expects to immediately gain 25 to 30 percent of the U.S. premium cigar market if the United States lifts its trade embargo and up to 70 percent of the market within a few years, the company said. Read More »

Brazil unions sue McDonald’s operator on pay, rules

Reuters | February 24, 2015 | International Trade

Brazilian unions have filed a lawsuit alleging that the largest operator of McDonald's restaurants in Latin America violates Brazil's labor laws, a case that could lead to fines of up to 30 percent of annual sales. Read More »

German exports to Iran soar after sanctions eased

Reuters | February 24, 2015 | International Trade

German exports to Iran jumped 30 percent last year to 2.4 billion euros, data from the Federal Statistics Office showed, bolstered by the easing of Western sanctions amid progress in talks on the country's nuclear program. Read More »

Brazil’s current account gap widens in January

Reuters | February 24, 2015 | International Trade

Brazil's current account deficit widened in January from the previous month to its second highest monthly mark on record as exports continue to dwindle, central bank data showed. Read More »

West Coast ports delays could swamp companies for two months

Reuters | February 24, 2015 | Ports & Terminals

Congestion at the U.S. West Coast ports could take as much as two months to unwind, according to port and trade group officials, with retailers and other companies bracing for further shipment delays after the apparent resolution of a months-long labor dispute. Read More »

Crowley receives first wave of new container equipment

AJOT | February 24, 2015 | Liner Shipping

In response to high customer demand Crowley Maritime Corporation’s liner services group is deploying an influx of new equipment, including hundreds of chassis, ISO tanks and high-cube containers, for use in the company’s services between the U.S., Puerto Rico, the Caribbean and Central America. Read More »

CN Rail reaches tentative deal with union, averting lockout

Reuters | February 24, 2015 | Intermodal | Rail

Canada's biggest railway reached a last-minute tentative agreement with one of its unions on Monday, averting a lockout that threatened to delay imports from Asia and compound a U.S. West Coast port logjam. Read More »

Shell’s Washington rail project faces lengthy delay

Reuters | February 24, 2015 | Intermodal | Rail

Royal Dutch Shell's proposed crude-by-rail project in Washington state has been put on hold pending environmental review, just days after a pair of oil train derailments caused huge fires in Canada and West Virginia. Read More »

Canada watchdog says 2013 CN derailment caused by rail defects

Reuters | February 24, 2015 | Intermodal | Rail

A fiery Canadian National Railway Co derailment in Alberta in 2013 was caused by rail defects that were not detected in tests just two months before the incident, Canada's Transportation Safety Board said. Read More »

Reform agenda to make rail transportation safe

AJOT | February 24, 2015 | Intermodal | Rail

The Transportation Trades Department, AFL-CIO, a group of 32 unions representing transportation workers, released its 2015 agenda yesterday after meeting with administration officials and lawmakers over the weekend. One of its top priorities is rail safety, specifically moving forward on the expired Rail Safety Improvement Act (RSIA). Read More »

Truck strike crimps Brazil food, fuel supplies, soy exports

Reuters | February 24, 2015 | Intermodal | Road | Ports & Terminals

Truck drivers protesting high fuel prices for a seventh day interrupted supplies of diesel and raw materials across Brazil's farm belt and threatened to hold up grains exports at ports in the midst of a record harvest. Read More »

Southern California commuter train, truck collide, 51 hurt

Reuters | February 24, 2015 | Intermodal | Road

A Los Angeles-bound commuter train slammed into a tractor trailer stopped on the tracks in Oxnard, California during the morning rush hour, injuring 51 people, several critically, authorities said. Read More »

U-Freight welcomes recovery in Australian wine exports

AJOT | February 24, 2015 | Transport Intermediaries

The U-Freight Group (UFL) welcomes the news that Australian wine exports to China have almost recovered to levels recorded before Beijing’s austerity measures severely dented volumes, and believes it will be a major boost for the company’s specialist wine logistics services in the country. Read More »

CSX says West Virginia rail line still shut after derailment

Reuters | February 24, 2015 | Intermodal | Rail

A CSX Corp rail line in West Virginia remained shut following an explosive oil train derailment on Feb. 16 that damaged the roadbed and tracks, though the type of work required to return the line to service could be completed “in days”, a CSX spokeswoman said Tuesday. Read More »

Radiant Logistics provides update on pending acquisition of Canada-based Wheels Group Inc.

PR Newswire | February 24, 2015 | Transport Intermediaries

BELLEVUE, Wash., Feb. 24, 2015 /PRNewswire/ -- Radiant Logistics, Inc. ("Radiant") (NYSE MKT: RLGT) today provided an update on its pending acquisition of Wheels Group, Inc. ("Wheels") (TSXV: WGI). Wheels has obtained an interim order from the Ontario Superior Court of Justice (Commercial List) (the "Interim Order") with respect to the previously-announced plan of arrangement (the "Arrangement") between Wheels, Radiant and its wholly-owned subsidiary, Radiant Global Logistics ULC.

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Matson, Inc. announces fourth quarter EPS and provides 2015 outlook

PR Newswire | February 24, 2015 | Liner Shipping

HONOLULU, Feb. 24, 2015 /PRNewswire/ -- Matson, Inc. ("Matson" or the "Company") (NYSE: MATX), a leading U.S. carrier in the Pacific, today reported net income of $27.8 million, or $0.63 per diluted share for the quarter ended December 31, 2014 compared with $7.3 million, or $0.17 per diluted share in 2013. The fourth quarter 2013 was negatively impacted by a litigation charge of $0.14 per share. Consolidated revenue for the fourth quarter 2014 was $443.5 million compared with $410.9 million reported for the fourth quarter 2013.

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