The carrier’s CEO said buyers could be pulling orders forward because of concerns over global geopolitical uncertainties or said rates could be driven by a more general restocking to replenish inventories.
The Port Authority of New York and New Jersey will take full control of the Howland Hook marine terminal in Staten Island while New York City will take over Brooklyn’s Red Hook terminal.
The average cost savings for a shipper choosing intermodal rail over truckload was about 26% in the first quarter, according to the latest Journal of Commerce Intermodal Savings Index.