Rickenbacker Inland Port FTZ Drives $$

Cargo imports exports at Rickenbacker rose 21 percent in the first half of 2017, bolstered by increased service from Etihad Airways, Trinity Logistics, and Emirates.

Norfolk Southern’s Heartland Corridor service carries double-stack containers between the Port of Norfolk and Chicago via the Rickenbacker Inland Port. Columbus is a one-day drive to 47% of the U.S. population and 47% of the country’s manufacturing capacity.

Over six-million square feet of new logistics and distribution space was added in 2016, a record breaking year for Columbus in terms of new supply from construction.

Norfolk Southern

 

TRAC Intermodal Chassis Pool Award 2017

The Association of Bi-State Motor Carriers has named TRAC Intermodal the Best Overall Chassis Provider in the Port of New York-New Jersey for 2017.

TRAC’s active fleet is over 270,000 chassis and a footprint of approximately 600 marine, 160 domestic and 60 depot locations across North America.  TRAC is the nation’s largest intermodal chassis pool manager and IEP.

port with shipping containers 16x9

 

 

 

 

Maersk, Rowan and Offshore Oil Drilling Deal

Rowan Cos. is in talks to acquire the drilling business of A.P. Moller-Maersk shortly after Transocean agreed to buy Songa Offshore for $3.4 billion.

Maersk has 24 drilling rigs, including drill ships, deep-water semi-submersibles and high-end jack-up rigs, according to its website. It employs over 3,000 people and the business generated a profit of about $743 million in FY 2016.

The drilling business assets could be valued at about $4 billion.  Rowan, a Houston TX offshore contract driller, has a market value of $1.4 billion, down from $5.6 billion in 2011, when oil sold for more than $100 a barrel.

maersk-drilling

$450MM Intermodal Honolulu

The 84-acre Kapalama Container Terminal (KCT) and its 1,800 lineal feet of new berthing will enable Honolulu to almost double its cargo capacity.

The $450 million Harbors Modernization Plan is a four year project beginning December 2017 and targeted for completion in 2022.

Phase 1 includes the 84-acre intermodal yard with an elevated two-foot grade for rising sea levels as well as 1,800 lineal feet of new berthing.  KCT is located next to the existing inter-island yard to enable 50,000 moves per year.  Imports make up more than 80% of all goods in Hawaii.

Port of Honolulu

 

Mediterranean Shipping 11 Vessel Order

Mediterranean Shipping Company placed an order for 11 ships of 22,000 TEU, less than a week after CMA CGM confirmed its own order for nine of the giant vessels.

CMA CGM said its order for nine ships of 22,000 TEU was based on reducing unit costs, while MSC said the mega-ships would be deployed to replace vessels going off-hire in its chartered fleet.

MSC

ATA Truck Tonnage 7.1% August Gain

American Trucking Association’s seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 7.1% in August, following a 0.5% gain during July. In August, the index equaled 149 (2000=100), up from 139.1 in July.

“Tonnage was stronger than most other economic indicators in August and more than I would have expected,” Bob Costello, the ATA chief economist, said. “However, prep work for the hurricanes and better port volumes likely gave tonnage an added boost during the month.

FedEx Cyber $ Loss 40x More than Harvey

FedEx said on Tuesday a June cyber attack on its Dutch unit slashed $300 million from its Q1 2018 profit and the company lowered its full-year earnings forecast.

FedEx reported the negative impact of the June 27 cyber attack was $0.79 per diluted share while the negative impact of Hurricane Harvey was $0.02 per diluted share.

FedEx joins a number of companies reporting big earnings drops due to the NotPetya virus in June, crippling Ukraine businesses before spreading worldwide to shut down shipping ports, factories and corporate offices.

KCS, Laredo and Hurricane Harvey

Kansas City Southern (KCS) does not believe its property and business income losses from Hurricane Harvey will exceed KSC’s $10 million self-insured retention.

Extraordinary number because almost 60% of US surface trade with Mexico passes thru areas directly and indirectly affected by Hurricane Harvey.

KCS