LOCAL PORT NEWS

  • Norfolk Southern 2Q profit rises 21 percent

    NORFOLKNorfolk Southern Corp. rode a rebound in rail shipments after a harsh winter to record profits in the second quarter.The Norfolk-based railroad said today that its net income for the quarter surged 21 percent from the year before, to $562 million. That worked out to a profit of $1.79 a share, which was 5 cents higher than the consensus of analysts surveyed by FactSet.

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  • Norfolk Southern raises dividend to 57 cents

    NEW YORKRailroad operator Norfolk Southern said Tuesday it is raising its quarterly dividend to 57 cents from 54 cents.Norfolk Southern Corp. will pay its next dividend on Sept. 10 to shareholders of record on Aug. 1.The Norfolk, Virginia, company is scheduled to report its second-quarter results before the market opens on Wednesday.

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  • APM facility in Portsmouth to be sold, executive says

    PORTSMOUTHJust seven years after it opened and only four years after it wasleased to the Virginia Port Authority, APM Terminals' state-of-the-artPortsmouth facility is about to be sold.

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  • One option for port authority: $10M treasury loan

    NORFOLKIn hard times like these, it's a deal a lot of people might want.Picture being able to borrow a few thousand bucks for mortgage or car payments you're struggling to make, drawing on a one-year loan with an interest rate of about 2 percent.

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  • Official: Savannah port showcase just won't work here

    The big ships that make their way to and from Savannah, Ga., the nation’s fourth-largest container port, can get you a shot of whiskey for a buck if you’re in the right place at the right time on River Street, a seven-block stretch of cobblestone that lines the water.

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US & INTERNATIONAL

  • Union aid supplies on way to Gaza

    ITF president Paddy Crumlin stated: ”The situation in Gaza is desperate. There is a need for an immediate ceasefire before even more civilians are killed. We strongly echo and support the continuing calls by the ITUC (International Trade Union Confederation) for action in line with the UN Security Council resolution that called for ‘de-escalation [...]

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  • Shipping alliances set for further expansion

    Table 2 shows the position between Asia and North America at the beginning of June, from which it can be seen that the G6’s market share of 35% well exceeds the EU’s 30% guideline, and member lines are also allowed to belong to a discussion agreement, so can recommend common surcharges and rate increases. [...]

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  • Arbitration on Panama Canal dispute to begin in Miami

    GUPC — which includes Sacyr Vallehermoso (Spain), Salini Impregilo (Italy), Jan del Nul Group (Belgium) and Constructora Urbana (Panama) — walked off the job for two weeks in February after several weeks of negotiations failed.Arbitration of the first claim in a $1.6 billion dispute over cost overruns in the expansion of the Panama Canal [...]

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  • Dockworkers plan to resume negotiations Wednesday

    From The Columbian: The International Longshore and Warehouse Union and the Pacific Maritime Association said in a joint statement Friday that they would engage in negotiations on a long-standing labor dispute with grain terminal operators in the Pacific Northwest. The statement was included in a news release stating that the two parties are taking [...]

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  • Port of San Diego fees discourage business projects

    At the Port of San Diego, Navy ship repairer BAE Systems was told it would cost $30,000 in port approval fees for a project that was only going to cost $50,000.Amid budget problems last June, the Port of San Diego decided to impose fees to cover staff time spent processing paperwork and issuing approvals [...]

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