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Liner shipping service reliability across core East-West trades hits 5-month peak
Liner shipping service reliability across the three core East-West trades hit a five-month peak in March with an aggregate on-time performance of 64 percent, according to Carrier Performance Insight, the online schedule reliability tool provided by Drewry Supply Chain Advisors.
The latest result represents an 8.5 percentage point gain over February and is the second best average (after October 2014) since the start of the new data series in May 2014.
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CN reports Q1-2015 net income of C$704 million, or C$0.86 per diluted share
CN reported its financial and operating results for the first quarter ended March 31, 2015. Claude Mongeau, president and chief executive officer, said: "CN turned in a solid first-quarter performance thanks to strong freight demand and continued productivity improvements, helped in part by easier winter conditions compared with last year's polar vortex.
"CN is pleased to affirm its outlook for double-digit EPS growth in 2015 versus last year's adjusted diluted EPS of C$3.76, despite weaker than expected energy markets and a mixed economy.
CP reports record Q1 2015 OR of 63.2 percent and earnings per share of C$1.92
Canadian Pacific Railway Limited announced the lowest first-quarter operating ratio in the company's history and the highest-ever net income for the period.
Revenues climbed 10 percent to a first-quarter record of $1.67 billion. Net income rose to an all-time quarterly high of $320 million, or $1.92 per diluted share, an improvement of 33 percent. Adjusted earnings per share improved 59 percent to $2.26.
"CP's success in the first quarter of the year is the result of hard work by its people and a business model that responds nimbly to any shift in economic conditions," said E. Hunter Harrison, CP's Chief Executive Officer.
Investor G3 Global Grain Group to take over wheat board
G3 Global Grain Group will invest $250 million to become the new majority owner of the CWB, formerly known as the Canadian Wheat Board.
The new Winnipeg-based partnership was selected to take over CWB's operations after a process set in motion when the Conservative government ended its marketing monopoly.
Farmers who sell their grain through the CWB can receive free units in an independently managed trust, which will hold the remaining 49.9 per cent interest in the CWB.
CN announces multi-year, C$500-million capital program to upgrade Western Canada feeder rail lines
Canadian National Railway Company
CN announced a multi-year program to invest approximately $500 million in infrastructure improvements to its Western Canada feeder rail lines in Alberta, Manitoba and Saskatchewan that are handling rising volumes of industrial products, natural resources and energy-related commodities.
In 2015, CN will allocate approximately C$100 million for work on northern Alberta branch lines, investing in infrastructure upgrades and safety improvements, including heavier rail, crushed rock ballast and new ties, to ensure the network can efficiently accommodate future freight volume growth in the Peace River region.
CN locomotive engineers in Canada ratify new labour agreement
Canadian National Railway Company
CN announced that locomotive engineers in Canada represented by the Teamsters Canada Rail Conference union have ratified a new collective agreement with the company.
The three-year agreement retroactive to Jan. 1, 2015, provides wage increases and benefit improvements to approximately 1,800 locomotive engineers.
Jim Vena, CN executive vice-president and chief operating officer, said: "We are pleased with the TCRC members' ratification of this new labour agreement, which was bargained by the parties in February 2015 without the threat of labour disruption."
US DOT releases package of actions to address crude by rail issues
The U.S. Department of Transportation, along with its agencies, the Federal Railroad Administration and Pipeline and Hazardous Materials Safety Administration, announced a package of targeted actions that will address some of the issues identified in recent train accidents involving crude oil and ethanol shipped by rail.
"The boom in crude oil production, and transportation of that crude, poses a serious threat to public safety," stated U.S. Transportation Secretary Anthony Foxx.
Canadian Trucking Alliance reacts to federal budget
While there were no trucking-specific measures included within the federal budget announced yesterday, small business will get a tax break and the budget delivered a small surplus.
The Canadian Trucking Alliance reacted to the budget, noting transit received the lion’s share of infrastructure spending.
A new Public Transit Fund was created, with money allocated to it expected to climb from $250 million in 2017-2018 up to $1 billion per year after 2019.
The CTA noted the budget documents addressing the transit funding indicated funding would improve the movement of both goods and people.
1 woman driver's take on the driver shortage
Amanda Jones has been on the road with husband Art Johansson for 13 years and driving for a little less than a year, so she's got some interesting perspectives on what fleets can do to attract and keep drivers, especially female ones.
Art, she says, has been driving for more than 34 years, "since he was a kid ... he's been trucking longer than I've been alive." She met him while she was working security at a packing plant and was attracted by both the man and the job.
Celadon names new international president, renames Canadian division
Celadon has named George Chasteen its new president of international business, including the Canadian operations.
The division includes all operations associated with Celadon's Mexican subsidiary Jaguar, as well as the Canadian division, which has taken on the Hyndman name. Celadon Trucking Services acquired Hyndman Transport in May 2013.
Freightliner offers efficient packages for Cascadia
The Freightliner Cascadia is now available with the AeroSmart and SmartAdvantage Powertrain packages designed to enhance efficiency and performance.
The AeroSmart package combines all of the aerodynamic components available for the Cascadia with the SmartAdvantage powertrain.
The SmartAdvantage powertrain was developed by Cummins and Eaton and is designed to improve fuel economy by 1.5 percent. SmartAdvantage combines a Cummins ISX15 engine with SmarTorque2 with an Eaton Fuller Advantage 10-speed automated manual transmission.
China Airlines moves regional hub to DWC
Air Cargo World
Taiwan-based China Airlines has relocated its regional freighter hub in the Middle East to Al Maktoum International Airport at Dubai World Central. The inaugural flight from Taipei was greeted with a traditional water salute by executives from Emirates SkyCargo and DWC. China Airlines stops in the UAE on its 747 freighter flights between Taipei an onward to Amsterdam, Luxembourg and Frankfurt.
IATA quarterly survey shows positive outlook
Airline profit expectations for the year ahead remain positive, consistent with improvements in recent performance, according to IATA's quarterly survey of airline CFOs and heads of cargo in April.
Recent past financial performance shows improvement on a year ago, and the outlook remains positive which suggests there will be further growth in profitability.
The survey indicates that falling input costs and growth in volumes are responsible for better recent financial performance as well as the positive outlook.
Lufthansa Technik becomes largest MRO for Avianca
Air Cargo World
Avianca Holdings Group and Lufthansa Technik AG, international provider of technical services for commercial aircraft, have recently signed several maintenance, repair and overhaul contracts, making Lufthansa Technik the largest components maintenance provider of the airline group.
Lufthansa Technik is providing total component support for Avianca's 787 fleet, currently consisting of four aircraft; 11 more have yet to be delivered.
Canadian Coast Guard releases Marathassa
World Maritime News
The Canadian Coast Guard released the cargo ship M/V Marathassa found responsible for spilling thousands of litres of oil into the English Bay.
Under the Canada Shipping Act, 2001, Transport Canada directed the vessel to remain at anchorage while the response to the spill was ongoing.
Transport Canada's investigation into the spill found that the spill had been caused by mechanical problems on board the ship.
After the Canadian Coast Guard reached the end of its role in ensuring the decontamination of the vessel, the vessel was released to its operations.
Wolfe would keep Port of Tacoma job under ports alliance staffing plan
The News Tribune
A new tentative staffing scheme for a planned shipping alliance between the Washington ports of Tacoma and Seattle would allow Port of Tacoma CEO John Wolfe to retain his Tacoma title while assuming command of the new alliance.
Wolfe would wear two administrative hats for up to five years under the proposed organizational arrangement presented to the governing commissions of the two ports at a joint meeting in Tacoma. His compensation under this plan is still to be determined. Now, as CEO of just the Port of Tacoma, he draws an annual salary of $257,088.
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