Around the Industry - News & Events

Hapag-Lloyd, UASC Merger Delayed

Hapag-Lloyd, UASC Merger Delayed

Hapag-Lloyd and UASC have mutually agreed to delay the finalization of their merger until May 31. The merger will create a combined company worth about seven to eight billion euros ($7.5 to $8.6 billion). It would be the world’s fifth largest shipping firm, with access to the Asia-to-Europe trade route and trans-Atlantic and trans-Pacific routes. […]

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Ports Apprehensive About Trump's Budget

Ports Apprehensive About Trump’s Budget

The American Association of Port Authorities (AAPA) has voiced its concern over the potential of significant declines for most federally funded, port-related programs in President Donald Trump’s fiscal 2018 budget. “We’re apprehensive about the fiscal 2018 budget,” said Kurt Nagle, AAPA president and CEO. “Adequate federal investments into U.S. port-related infrastructure, both on the landside […]

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International Paper Receives $121M Dividend from Ilim Group

International Paper Receives $121M Dividend from Ilim Group

MEMPHIS, Tenn., March 8, 2017 /PRNewswire/ — International Paper (NYSE: IP) received a dividend of $121 million from Ilim Group, IP’s joint venture partner in Russia. The dividend is based on prior year performance, and in 2016, the JV set production records at all three of its mills and realized higher sales volume due to […]

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CSX Names E. Hunter Harrison as Chief Executive Officer

CSX Names E. Hunter Harrison as Chief Executive Officer

PRESS RELEASE JACKSONVILLE, Fla. – March 6, 2017 – CSX Corporation (NASDAQ: CSX) today announced the Company has named E. Hunter Harrison, a proven railroad executive with a well-regarded track record of producing market-leading operating results, as chief executive officer, effective immediately. Mr. Harrison replaces Michael Ward, who announced his decision to retire as Chairman […]

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Hutchinson Ports Signs Operating Contract for Norvik Port

Hutchinson Ports Signs Operating Contract for Norvik Port

Hutchison Ports has signed a formal agreement with Ports of Stockholm to operate the container terminal under construction at Stockholm Norvik Port. The new port, which is near Nynäshamn 60km south of the Swedish capital, will have better access, deeper water and greater capacity than the city-centre facilities it will replace. Speaking after the signing, […]

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A Grim 2017 Expected for Container Shipping

A Grim 2017 Expected for Container Shipping

The outlook for global container carriers remains grim at the outset of 2017, says analyst AlixPartners in their latest industry report. The industry continues to be plagued by the same challenges since the onset of the 2008 financial crisis. Events like Brexit and the new U.S. administration’s policies threaten to add insult to injury as […]

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Georgia-Pacific Names Christian Fischer as CEO

Georgia-Pacific Names Christian Fischer as CEO

Koch Industries, Inc. today named Jim Hannan executive vice president and CEO – Enterprises, and Brad Razook executive vice president and CEO – Resources. Both are newly created leadership positions. Hannan has served as president and CEO of Koch subsidiary Georgia-Pacific since 2007, while Razook has served as president and CEO of Flint Hills Resources […]

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Port of Liverpool Welcomes Largest Containership to Date

Port of Liverpool Welcomes Largest Containership to Date

The largest containership to ever call at the Port of Liverpool arrived today [Monday 6 March]. The 6,552 TEU ‘HS Paris’ berthed at the Liverpool2 deep-water container terminal at 04:30. Previously, the Port of Liverpool’s existing container terminal could only accommodate vessels up to 4500TEU. The HM Paris is the first post-Panamax vessel to call […]

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