LOCAL PORT NEWS

  • Profits up as Norfolk Southern labors to stay on track

    NORFOLKNorfolk Southern Corp. on Wednesday reported the highest third-quarter profit in its 32-year history - another sign that the nation's economic recovery remains on track.But analysts had expected more profit from the Norfolk-based railroad. Norfolk Southern's own statistics showed it struggled to keep up with a surge in shipments, especially of crude oil.

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  • Norfolk Southern CEO says rail mergers won't work

    OMAHA, Neb.Norfolk Southern Corp.'s CEO doesn't think railroad mergers are a good idea even if regulators might approve one.CEO Wick Moorman said Wednesday during a conference call on Norfolk's Southern's quarterly results that he doesn't think railroad mergers "make sense at this time."

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  • Japanese auto parts maker expanding in Virginia

    Gov. Terry McAuliffe announced a $32.6 million Virginia investment by a Japanese auto parts manufacturer Wednesday during a 10-day trade mission in Asia.Dynax America Corp. will expand its operations in Botetourt County near Roanoke, creating 75 jobs. Dynax manufactures automatic transmission components, friction disks, mating plates and assemblies.

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  • Norfolk Southern railroad 3Q profit up 16 percent

    OMAHA, Neb.Norfolk Southern Corp. delivered 16 percent higher third-quarter profit as it hauled more freight, but the railroad's results fell short of expectations because coal and pricing remained weak.The Norfolk, Va.-based railroad said Tuesday it generated $559 million net income, or $1.79 per share. That's up from $482 million net income, or $1.53 per share, last year.

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  • Virginia Port Authority feels effect of truck congestion

    The Virginia Port Authority's cargo operations squeezed out a small operating profit in September - a big turnaround from a year ago, when it lost millions. But John Reinhart, the agency's CEO, said the port needs to do a better job of managing truckers' growing movements of containers in and out of terminals.

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US & INTERNATIONAL

  • Matson reduces fuel surcharge

    From the Star-Advertiser: Matson Inc., the state’s largest ocean cargo carrier, said Thursday it will lower its Hawaii fuel surcharge by 5 percentage points to 37.5 percent Nov. 2 to compensate for falling ship fuel prices. The decrease follows two increases earlier this year — 3 percentage points in June and 5 percentage points [...]

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  • APMT disputes ITF on Aqaba port strike

    From the Journal of Commerce: APM Terminals has disputed the International Transport Workers Federation’s description of last week’s strike at Aqaba Container Terminals in Jordan as a “victory” for the union representing the terminal’s dockworkers. “We find the ITF’s statements misleading, incorrect and not supported by facts…The strike was premature and illegal, especially when [...]

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  • Costa Rica intervenes to stop strike at port, arrests 68

    Costa Rican police arrested 68 people in the country’s main Atlantic port on Wednesday after a strike over plans to expand the hub threatened to paralyse shipping. The stevedores’ union, SINTRAJAP, launched an indefinite strike on Wednesday, leaving three ships stranded and unable to unload cargo after APM Terminals won a Supreme Court decision this [...]

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  • Dockworkers strike over APMT terminal agreement in Costa Rica

    Dockworkers in Costa Rica walked off the job Wednesday, continuing a long battle over a proposed container terminal operated by APM Terminals with a strike. Union leaders described the strike as “indefinite.” The union, which represents workers working at terminal overseen by the Atlantic Port Authority (JAPDEVA), had threatened a strike for several days after [...]

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  • Strikes could cripple Costa Rica’s Atlantic ports this week

    [Note: SINTRAJAP union leaders have informed us that their peaceful protest today has completely shut down the Ports of Limon and Moin.] The Union of Allied Port Workers (Sintrajap) is calling for a general strike this week that could cripple the country’s Atlantic ports, spurred on with support from the union that represents workers of [...]

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