financial
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Low oil prices, freight rates hit Maersk profits
First-quarter underlying profit plunged to $224 million from $1.5 billion a year earlier
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EDC finances Mexican OEM supplier Metalsa
OTTAWA, Ont.–Export Development Canada (EDC) announced a USD $100 M financing deal with Metalsa, S.A de C.V. (Metalsa), a Mexico-based OEM producer of automotive structures such as chassis, suspension, cradles and stamping. The financing will be used for general corporate…
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Ryder Completes $1.2 billion global revolving credit facility
MIAMI, Fla.–Ryder System, Inc announced that it has amended its existing $900 million five-year global revolving credit facility. This amendment increases the facility size to $1.2 billion and extends the maturity date from October 2018 to January 2020. Twelve global…
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Seaway hits post recession high with 40 million tonnes of cargo
CORNWALL, Ont.– The Seaway concluded the 2014 navigation season with 40 million tonnes of cargo, which represents a full recovery from the 2009 global financial crisis and its ensuing aftermath. The St. Lawrence Seaway Management Corporation (SLSMC) announced today that the…
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Lufthansa Cargo maintains capacity with cargo load factor of 69.7%
FRANKFURT, Ger.–Despite a slight decline in transported cargo volume, Lufthansa Cargo said it was able to maintain its capacity utilization last year with a cargo load factor of 69.7 per cent (2013: 69.9 per cent). Faced by tough competition, the cargo airline…
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Canada Cartage Completes Acquisition of Vanguard Global Services
TORONTO, Ont.– Canada Cartage has completed its acquisition of Mississauga-based Vanguard Global Services Inc. The acquisition was previously announced on December 15, 2014. Vanguard is a third-party logistics firm that has been providing innovative, customized supply chain solutions to Canadian and US companies…
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Ryder appoints Steve Sensing president, Global Supply Chain Solutions
MIAMI, Fla.– Ryder has announced the appointment of Steve Sensing as President of Global Supply Chain Solutions (SCS). Sensing’s appointment will take effect on March 31, 2015 concurrent with the retirement of Ryder’s Global Supply Chain Solutions President John Williford, which was announced…
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Minister Raitt announces appointment to Canada Post Corp.
OTTAWA, Ont.–The Honourable Lisa Raitt, Minister of Transport, has announced the appointment of Siân M. Matthews of De Winton, Alberta, as Chairperson of the Board of Directors of the Canada Post Corporation for a four-year term. Canada Post and its subsidiaries are…
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Investment professionals expect “meagre gains” in Canadian, international indices for 2015
NEW YORK, N.Y.– Investment professionals worldwide expect the global economy to grow an average of just 2 per cent in 2015, according to the CFA Institute 2015 Global Market Sentiment Survey. Survey respondents—who include portfolio managers, research analysts, and C-suite executives—cite political risks,…
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Canada Cartage Announces Proposed Acquisition of Vanguard Global Services
TORONTO, Ont.–Canada Cartage has announced its proposed acquisition of Mississauga-based Vanguard Global Services Inc. Vanguard is a third-party logistics firm that has been providing innovative, customized supply chain solutions to Canadian and U.S. companies since 1999. The transaction is expected…