LOCAL PORT NEWS

  • Norfolk Southern 2Q profit rises 21 percent

    Riding a rebound in rail shipments after a harsh winter, Norfolk Southern Corp. enjoyed record profits in the second quarter.The Norfolk-based railroad said Wednesday 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

  • TEMCO grain terminal expansion on track for fall completion, officials say

    The renovation will add new docks, a new shipping system, new rail and barge unloading machinery and new systems for cleaning wheat and other grains, Butters said. Butters said the improved terminal could handle up to 200 million bushels of grain per year, as much as Temco’s Tacoma terminal. Bill Wagner Photo / The [...]

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  • Ports: June volume gains in California and South Carolina; new AAPA chair

    Excerpts from Progressive Railroading: The Port of Long Beach’s container volume in June rose 8 percent year over year to 610,516 20-foot equivalent units (TEUs) — the highest June total since 2007. … At the Port of Los Angeles, June volume totaled 736,438 TEUs, up 13.9 percent compared with June 2013 and the highest monthly [...]

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  • Manitoba pushes potash

    Manitoba is hoping to capitalize on the potash boom the way Saskatchewan has. The Selinger government is about to invite the world’s potash producers to sink their machines into a western Manitoba mine that could generate $2 billion worth of royalties for the province over the course of 40 years. The Potash Corporation of Manitoba [...]

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  • Scheduled events could push ILWU talks into August

    From yesterday’s Journal of Commerce: The International Longshore and Warehouse Union today completed its two-day caucus in San Francisco, and the union will resume contract negotiations with the Pacific Maritime Association on Wednesday. … Contract negotiations will resume Wednesday and will continue for the rest of this week, but the talks will recess again on [...]

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  • 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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