- J B Hunt Transport Services Inc’s (NASDAQ:JBHT) cargo vessel Johnelle has docked at the Port of Everett in Washington, with more than 250 new containers reserved for the expansion of the intermodal fleet.
- The Johnnie Bryan, a second cargo vessel, is expected to dock at the Port of Hueneme in California next month with additional new containers.
- The two are part of a long-term, multi-vessel service agreement between J B Hunt and Swire Shipping Pte. Ltd. Under the agreement, JBHT will have ongoing cargo shipping opportunities available from the Shenzhen, Qingdao, and Shanghai markets in China to ports in California and the Pacific Northwest.
- The company expects the planned moves to help customers ease supply chain challenges.
- “We’re really solving for two very big challenges with this agreement. First, we’re adding intermodal capacity, which will provide customers with more opportunity to leverage the cost-savings and sustainability benefits that J.B. Hunt Intermodal offers. Second, we’re greatly reducing the time it takes for customers’ freight originating overseas to be out for delivery in the U.S., something that has troubled the industry for years,” commented Darren Field, president of intermodal and EVP at J B Hunt.
- Price Action: JBHT shares are trading lower by 0.12% at $157.11 on the last check Thursday.
- Photo Via Company
