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.
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A new Visibility Benchmark Study from American Shipper also found that third-party logistics companies have a major problem delineating their cost to provide visibility to shippers.
A new component of the Customs-Trade Partnership Against Terrorism gives eligible ocean carriers the ability to start unloading without having to wait for U.S. Customs officers to clear the vessel.
Historically low ocean freight rates have caused carriers to implement cost-cutting measures that have reduced reliability, meaning shippers need to be more flexible in how they procure capacity.