Transportation: Page 417

Commercial Refrigeration Equipment Market to Reach $61 Billion by 2021

The transport refrigeration equipment category was the largest segment in commercial refrigeration equipment market and accounted for largest share of the total market in 2015.

Consolidation of warehouses and growth of cold supply chains is likely to disclose the new avenues for commercial refrigeration equipment market in the near future.

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Domestic Intermodal Traffic Not Enough to Save Sector From 3Q Declines

Intermodal Association of North America (IANA)

The domestic container business experienced gains of 3.3 percent in the third quarter, which kept the overall Intermodal volume loss to 4.6 percent.

The Midwest-Northwest corridor's traffic rose 3 percent, dominated by containers. However, all other corridors posted declines, ranging from 0.8 percent in the Northeast-Midwest and Trans-Canada lanes, to 11.2 percent in the South Central-Southwest corridor. Midwest-Southwest volumes, which are the highest, dropped 5.3 percent.

More Ocean Shipping Alliances Put Ports on Shaky Ground

With analysts estimating that oceangoing shippers could lose up to $10 billion worldwide this year, the industry that made globalization possible is sinking into crisis.

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Ocean Ports & Carriers

Ocean Alliance Announces 'Day One' Plans

The proposed network will operate 40 services on the East-West trades with around 100 ports of call and almost 500 port pairs when it begins operations in April of 2017.

Members of the Ocean Alliance announce the signing of an agreement, called the Day One Product.

Ocean Ports & Carriers

West Coast Ports, Dockworkers Union Cut Off Talks Without a Deal

Pacific Maritime Association (PMA)

ILWU and PMA agreed on the current contract in February 2015, but it is set to expire at the end of June 2019.

Semi trucks hauling a containers leave the Port of Los Angeles on Monday, Feb. 23, 2015. Nearly all West Coast seaports began the week with dockworkers hustling to load and unload cargo ships that were held up amid a months-long labor-management dispute.

Alibaba's Lazada Group Acquires Singapore Online Grocer RedMart

With recent reports suggesting that the online grocery market is at an inflection point, the acquisition will provide Alibaba with a strong footprint in a leading global logistics hub in Singapore.

The transaction is expected to be completed in calendar Q4 2016, with Goldman Sachs acting as the financial advisor to Lazada Group while Credit Suisse advises RedMart.

Independent Truckers Group Loses its Lawsuit to Stop ELD Mandate

The Owner-Operator Independent Drivers Association had asked the court to vacate the Federal Motor Carrier Safety Administration’s final rule, which was issued in December 2015 and is scheduled to go into effect Dec. 17, 2017.

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Delivery App Postmates Raises Another $140 Million in Funding

The new infusion of capital will mostly be used to improve engineering and expand into new markets as Postmates re-emphasizes their efforts to compete with Amazon Prime.

About 6,000 merchants pay for better placement on the app and to be featured in the Postmates Plus Unlimited program, which encourages members to place larger orders in lieu of delivery charges.

Ocean Ports & Carriers

Joint Georgia-South Carolina Port Project Reaches First Milestone

Georgia Ports Authority

The idea is to have the first phase of the new terminal operating in a decade when container capacity at the ports in both Charleston and Savannah begins running out.

The U.S. Army Corps of Engineers has issued a public notice that it plans to prepare a draft environmental impact statement on the proposed terminal in Jasper County on the South Carolina side of the river.

Pepsi to Invest $16.5 Million on New DC in North Carolina

The St. Pauls, N.C., site was chosen from seven options in two states and will consolidate six different distribution centers into the new facility.

Governor Pat McCrory, North Carolina Commerce Secretary John E. Skvarla, III, and the Economic Development Partnership of North Carolina (EDPNC) announced that Pepsi Bottling Ventures LLC will create 50 jobs over the next five years at a new $16.5 million distribution center in Robeson County.

Japan's Three Largest Shippers to Merge Container Operations

Nippon Yusen Kabushiki Kaisha, Kawasaki Kisen Kaisha and Mitsui O.S.K. will combine their container operations to create a business worth about 300 billion yen, or $2.9 billion.

The three companies said they expected combining their fleets to save about ¥110 billion per year. The deal is expected to be complete by July 1, with operations beginning in April 2018. The companies’ bulk-shipping lines, which transport cargo like grain and iron ore, will remain independent.

Canada's TransForce Acquires XPO Logistics' Truckload Business for $558 Million

The deal transfers about 3,000 tractors, 7,500 trailers and 29 locations to TransForce, which is Canada’s largest trucking company and has expressed interest in expanding its U.S. truckload business.

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