Montreal, Canada-based Class I railway Canadian National saw net income for the third quarter of 2016 fall 2.9 percent to C$972 million (U.S. $727.6 million) on revenues that slid 6 percent to C$3.01 billion compared with the same 2015 period.
The public-private partnership is aimed at increasing the height of the Howard St. Tunnel so two containers can be loaded onto intermodal cars, making it more efficient for traffic moving to and from the Port of Baltimore.
Trucking and intermodal carrier Swift Transportation grew net income 4.7 percent year-over-year to $38 million in third quarter 2016 on revenues that slipped 4.9 percent to $1.01 billion compared with the same 2015 period.
Registration takes less than 1 minute.
Meanwhile, a judge in STX Offshore’s Korean bankruptcy proceedings has ordered the troubled shipbuilder to put its shipyard up for sale along with its profitable cruise ship subsidiary based in France, according to multiple media reports.
Meanwhile, Hanjin has sent a note to customers that says it will allow Hanjin-owned containers to be terminated at either Terminal 46 in Seattle or Pier T in Long Beach.
An MSC spokesperson told American Shipper the reason it sold its interest in Genoa, Italy-based logistics company Aprile to Savino Del Bene was to exit the freight forwarding business.