ICTSI full year 2010 net income up 79% to US$98.3 million

AJOT | March 13, 2011 | Ports & Terminals

International Container Terminal Services, Inc. (ICTSI) reported consolidated audited financial results for the year ended December 31, 2010 posting full-year revenue from port operations of US$527.1 million, an increase of 25 percent over the US$421.7 mi Read More »

Ship Philly First markets the Port of Philadelphia around the world

AJOT | March 13, 2011 | Ports & Terminals

More than a dozen companies involved in operating and servicing the Port of Philadelphia have joined together to form Ship Philly First, an organization created to exclusively promote the port and its service providers both domestically and internationall Read More »

Bollore confirms $640 mlllion Lome port expansion plan

AJOT | March 13, 2011 | Ports & Terminals

French logistics group Bollore said it was to build a third quay at Lome port in Togo for a cost of 300 billion CFA francs ($640 million), with a target of doubling container traffic within five years.

The project was launched at a ceremony with group Read More »

Shanghai Port’s delayed Belgium port JV starts operations

AJOT | March 13, 2011 | Ports & Terminals

Shanghai International Port's (SIPG) joint venture with Belgium container terminal Zeebrugge has begun operations, a senior Chinese executive said, following a delay during an industry downturn.

"The project had been postponed previously, but the vent Read More »

Brazil sugar port delays to recur

AJOT | March 13, 2011 | Ports & Terminals

Delays to sugar loadings at Brazilian ports, which hampered shipments last year, are likely to recur as harvesting proceeds this year, a senior sugar industry executive said.

"We anticipate some port congestion this year given that demand (for Brazili Read More »

Port of Oakland advances trade partnership with major public port in China

AJOT | March 13, 2011 | Ports & Terminals

The Port of Oakland and China Merchants Holdings International (CMHI) jointly hosted “Blueprint for China’s Shipping and Logistics Growth,” at the Waterfront Hotel in Oakland’s Jack London Square this past Friday, March 4. This half-day symposium brought Read More »

Iraq plans to tender Faw port by year end-minister

AJOT | March 13, 2011 | Ports & Terminals

Iraq plans to float a tender for building a multibillion-dollar port south of Basra by the end of this year, its transportation minister said.

Iraq is in talks with investors from Australia, France, Germany, Italy and the UAE to help finance the proje Read More »

UAE’s Union Railway issues tenders ahead of mid-2011 build

AJOT | March 13, 2011 | Intermodal

Union Railway, which plans to begin construction on the United Arab Emirates' rail network in mid-2011, said it has issued tenders for rolling stock for the Western region railway.

The firm plans to complete an $11 billion, 1,500 km railway project ac Read More »

Growing China, India to drive container leasing companies

AJOT | March 13, 2011 | Intermodal

Dahlman Rose upgraded the container leasing industry to a "buy" rating from "hold," as rising demand across the world, shortage in supply and higher pricing trends bode well for companies in the sector.

"The growth of the consumer classes in China, Br Read More »

China to start delayed Myanmar rail link this year

AJOT | March 13, 2011 | Intermodal

Construction of a rail link from China to Myanmar will likely start this year after being delayed by internal problems and mismatched gauges, the Chinese commerce minister said.

The railway is part of a wide-ranging network that will connect southwest Read More »

American freight rails plan to spend $12 blllion in 2011

AJOT | March 13, 2011 | Intermodal

Freight railroads plan to spend a record $12 billion on hiring new employees, laying down new track, and other capital projects in 2011, an industry group said.

The Association of American Railroads, whose members include Canadian Pacific Railway , Un Read More »

Mexico sees U.S. trucking dispute over in summer

AJOT | March 13, 2011 | Intermodal

Mexico said it expected its first truck to cross into U.S. territory in about four months, a move that would end a long-standing cross-border trucking dispute with its main trade partner.

U.S. President Barack Obama said that the United States and Mex Read More »

Stella Jones profit jumps on strong railway tie sales

AJOT | March 13, 2011 | Intermodal

Stella-Jones Inc's fourth-quarter profit more than tripled helped mainly by stronger railway tie sales, but the maker of treated wood products said deliveries are expected to slightly soften in the first quarter. Read More »

Blue Tree Systems expands North American presence

AJOT | March 13, 2011 | Intermodal

Blue Tree Systems, a global provider of fleet management, reefer monitoring and trailer tracking solutions, today announced it has established Blue Tree Systems Inc. to support its growing network of partners, resellers and users of its next generation fl Read More »

Organic expansion gives ABF dual-system network coast-to-coast reach

AJOT | March 13, 2011 | Intermodal

ABF' is expanding its RPM' service to the western one-third of the U.S., providing increased shipment velocity to 95% of the lanes between major markets in the West. 'ABF's latest service improvements are monumental because they give coast-to-coast reach Read More »

Raymond James ups CP Railway to outperform

AJOT | March 13, 2011 | Intermodal

Raymond James upgraded Canadian Pacific Railway Ltd to "outperform" from "market perform", as the brokerage expects the company to gain partly from its diverse bulk franchise including coal, potash and grain, and exposure to emerging markets. Read More »

Old Dominion CFO honored as one of ‘America’s Best CFOs’

AJOT | March 13, 2011 | Intermodal

J. Wes Frye, senior vice president ' finance and CFO of Old Dominion Freight Line Inc., has been recognized on Institutional Investor's America's Best CFOs list for 2011.

Frye ranked second on the Airfreight & Surface Transportation industry list and Read More »

Trade rules to curb foreign subsidies

AJOT | March 13, 2011 | International Trade

The European Union should rely on international trade rules, rather than protectionist tools, to ensure that foreign bids for EU companies are not backed by state aid, the EU's antitrust chief said.

EU Competition Commissioner Joaquin Almunia's commen Read More »

Obama to name Locke as new US ambassador to China

AJOT | March 13, 2011 | International Trade

U.S. President Barack Obama will nominate Commerce Secretary Gary Locke, who this year criticised China for not opening its markets, as next U.S. ambassador to Beijing, two administration officials said.

Locke would be the first Chinese American to se Read More »

FTR Shippers Condition Index remains in low territory

AJOT | March 13, 2011 | International Trade

As reported in the March Issue of FTR's Shippers Update, the firm's Shippers Condition Index (SCI) remained in low territory in February with a value of -5.2. FTR expects the index to fall further as the outlook for capacity shortages worsen in the seaso Read More »