GOTHENBURG, Sweden, Jan. 13, 2020 (Press Release) -Elanders expands the restructuring program that was announced in November 2019 and adjusts historical errors in customer projects. This means that another MSEK 120 will be charged to the operating result for the fourth quarter 2019, i.e. in total some MSEK 180. The errors relate to the transportation operations within the Germany subsidiary LGI, which is part of the business area Supply Chain Solutions.Read more
SAN FRANCISCO, Jan. 6, 2020 (Fastmarkets RISI) -North American forest products railroad freight declined 6.1% in 2019 from a year ago to 860,535 carloads, according to the Assn of American railroads. This year’s volume was 5.7% below 2017.
US forest products freight was 4.5% lower for the year to 509,238 carloads. Canada declined 8.4% to 349,875 carloads, including an eight-day strike by the Teamsters union in late November.
Mexico’s small forest industry freight volume was down 1.4% in the year to 1,422 carloads.Read more
SUNDSVALL, Sweden, Jan. 3, 2020 (Press Release) -As a result of the new Swedish tonnage tax system, the SCA Group will be moving its vessel registration home to Sweden. At the turn of the year, a new company, SCA Shipping AB, will be formed.
“Gathering our entire shipping business is a more logical solution,” says Per-Anders Westin, Finance Manager SCA Logistics.Read more
BRUSSELS, Jan. 3, 2020 (Press Release) -From 1 January 2020, the maximum sulphur content of marine fuels is reduced to 0.5% (down from 3.5%) globally – reducing air pollution and protecting health and the environment. Sulphur Oxide (SOx) emissions from ships' combustion engines cause acid rain and generate fine dust that can lead to respiratory and cardiovascular diseases, as well as reduced life expectancy.Read more
DARIEN, CT, Dec. 30, 2019 (Business Wire) -Genesee & Wyoming Inc. today announced the completion of its previously announced sale to affiliates of Brookfield Infrastructure and GIC.
Under the terms of the sale, each issued and outstanding share of G&W common stock converted into the right to receive $112 in cash. As a result of the completion of the sale, G&W’s common stock ceased trading on the NYSE prior to market open today and will no longer be listed for trading on the NYSE.Read more
OAKLAND, CA, Dec. 27, 2019 (Fastmarkets RISI) -North American forest products rail freight was down 8.9% in the latest week ending Dec. 21, 2019, and year-to-date was down 6.2% to 846,756 carloads, the Assn of American Railroads reported.
Total North American carloads were down 3.9% through 51 weeks of 2019 with coal down 20.8%, ores and metal down 8.2%, and grain off 4.3%.
US forest products freight in the week was 5.1% lower and year-to-date was down 4.5% to 500,493 carloads.Read more
ARLINGTON, VA, Dec. 23, 2019 (Press Release) -American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 3.5% in November after falling 0.7% in October. In November, the index equaled 113.5 (2015=100) compared with 117.6 in October.Read more
MONTREAL, Dec. 19, 2019 (Press Release) -CN announced today that less than a month after the end of the 8-day labour action, performance indicators have normalized to pre-strike ranges indicating that train movements have recovered.
The 8-day work disruption caused CN’s network to run at approximately 10% capacity. Every strike day can cause several days of backlog, requiring time for the network to be fully current once it has returned to normal operational ranges.Read more