- Alaska Air Group.
DOWN with a 1st quarter 2002 net loss of US$34.4M, or
US$1.30 per share, compared with a 1st quarter 2001 net
loss of US$33.1M or $1.25 per share.
- America West.
DOWN with a net loss of US$358M, or $10.62 per share, in
1st quarter
- AMR, American Airlines' parent.
DOWN with a US$575M in 1st quarter 2002,
from US$43M in same period last year.
- CMA CGM (French Line).
DOWN with a 74% fall in net profit for 2001, to
US$25M, despite a 17% increase in the volume of containers carried.
- CNF Inc. (parent of Con-Way Transport Services & Menlo Worldwide).
UP as
1st-quarter net income improved 35.6% to US$18.3M. Menlo Worldwide (formed
Dec. 5 from Emery Forwarding, Menlo Worldwide Logistics, Menlo Worldwide
Technologies & Vector SCM) has 1st quarter operating income of US$3.3M to
offset a year-earlier loss of US$3.0M. Revenue was down 24% to $611.3M.
- Compania Sud Americana de Vapores. (Chilean Line).
DOWN with a 54% fall in
its operating income for 2001, to US$19M -- compares with an operating profit
of US$41M in 2000.
- Continental Airlines.
DOWN with a net loss US$166M in 1st quarter as its
revenue fell 18.7% from a year ago.
- CP Ships.
DOWN with a 1st quarter 2002 operating loss of US$6M, down from
an operating profit of US$31M in 1st quarter 2001 & US$35M before exceptional
credits in 4th quarter 2001 -- blamed was a 13% fall in freight rates &
losses in its Asian container trades.
- CSX Corp.
UP as 1st quarter earnings improved 25% to US$25M, despite
declining revenue.
- Danzas AEI Intercontinental.
UP as net sales increased by 14% last year,
to US$3.9Bn.
- Forward Air Corp.
DOWN with 1st-quarter net income of US$4.9M, down 21.0%
from 2001 period.
- Hapag-Lloyd Container.
UP with operating profit of US$164M for 2001, up
17%.
- J.B. Hunt Transport Services, Inc.
UP with 1st quarter 2002 net earnings
of US$4.9M, or diluted earnings per share of 13 cents, compared with 2001 1st
quarter earnings of US$1.6M last year.
- Kühne & Nagel.
UP 22.5% in 1st quarter net profits, to US$23.5M.
- Matson Navigation Co. DOWN as 1st-quarter operating profit plunged 86% to
US$2.5M. Honolulu-based carrier, which serves the U.S./Hawaii & Guam trades,
has implemented a 2.75% general rate increase and will raise its bunker fuel
surcharge May 5. Revenue was US$192.7M, compared to US$196.6M for
year-earlier.
- Norfolk Southern Corp.
UP as 1st-quarter net income improved 16.2% to
$86M.
- Northwest Airlines.
DOWN with a 1st-quarter loss of US$171M -- blaming
the decline in business travel & the impact of reduced airfares. The Eagan,
Minn.-based carrier beat low expectations of Wall Street analysts.
Northwest's loss of US$2.01 per share for 1st quarter was slightly better
than loss of US$2.05 per share year earlier.
- Panalpina.
UP as net income rose in 2001 by 20.5% over previous year to
US$67.1M, despite the difficult economic environment. Net revenue came to
US$3.2Bn.
- Pittston Co. (parent of BAX & Brinks).
UP with net income of US$19.1M
($0.37 per diluted share) for 1st quarter ended March 31, 2002 -- same period
a year earlier was US$8.7M ($0.17 per diluted share).
- C.H. Robinson Worldwide.
UP as 1st quarter net income improved 14.9% to
US$20.8M.
- Ryder System Inc.
UP with 1st quarter net earnings of US$16.8M, despite a
10% drop in revenue, to US$1.28Bn.
- Tropical Shipping.
FLAT with operating income of US$3.2M in 1st quarter.
- Union Pacific Corp.
UP as 1st quarter net income improved 22.7% to
US$222M, despite flat operating revenues compared to 1st quarter of 2001.
- United Airlines.
DOWN with a 1st-quarter loss of US$487M, or loss per
basic share of US$8.81 -- compares to 1st quarter 2001 net loss of US$305M,
or a loss per basic share of US$5.82, excluding the cumulative effect of an
accounting change.
- UPS.
FLAT as its net result was down 3.3% to US$563M in 1st quarter.
Consolidated operating profit increased 0.3% during the period to US$947M.
Strong Int'l shipping volumes helped UPS beat Wall Street forecasts. Europe's
volume was up by 13%.
- USFreightways Corp.
DOWN with a 1st quarter loss of US$77.7M.
- U.S. Xpress Enterprises, Inc.
DOWN for 1st quarter 2002, with a loss of
US$300,000, or $0.02 per common share, while operating revenues increased
5.8% to $197.2M.
- U.S. Trade Deficit Widened
as it went to US$31.5Bn in Feb. as
Americans' appetite for foreign goods increased & reflecting economic
recovery in this country. The U.S. Commerce Dept. reported April 17 that the
deficit was 11.6% higher than January's trade gap of US$28.2Bn
- Interpool, Inc. Offering ........
as it has filed a registration
statement with the Securities & Exchange Commission for a subscription rights
offering of up to US$27,363,350 of 9.25% Convertible Redeemable Subordinated
Debentures. The debentures will be offered to holders of the Company's common
stock pursuant to the exercise of non-transferable subscription rights & will
be convertible into shares of Interpool common stock. Interpool is reserving
the right to increase the maximum amount of the offering to US$31,467,850,
with net proceeds of the offering to be used for general corporate purposes.
Martin Tuchman, Chairman & CEO of Interpool, stated that "While we have many
financing alternatives available to us, we want to provide Interpool's
existing shareholders with an opportunity to increase their investment in our
company." Founded in 1968, Interpool is one of the world's leading suppliers
of equipment & services to the transportation industry. Interpool is the
largest lessor of intermodal container chassis in the U.S. & a world-leading
lessor of cargo containers used in Int'l trade. Interpool is corporate
sponsor of The Cargo Letter archives & library.
Please click below for other sections:
Our Top Story: Landmark Alameda Corridor Opens For Business - Speeding Cargo For L.A. & Long Beach |
Section A: Section: Trade, Financial & Inland News
|
Section B: FF World Air News |
Section C: FF World Ocean News | Section
D: FF in Cyberspace |
Section E: The Forwarder Broker World
Written from wire stories, the Associated Press,
Reuters, Hong Kong Shipping News Lloyds & other world sources.
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