S&P said, “The stable outlook reflects our view of the HPA’s prudent management of its capital program to date and our expectation that it will not issue significantly more debt in the next two years than it assumes in its capital plan.”
The U.S. Department of Agriculture’s Foreign Agricultural Service has released additional fiscal-year 2014 funds for its Export Credit Guarantee Program (GSM-102). Exporters now have access to $3.586 billion.
Bruce Wargo, the president and chief executive of PierPass, said, “While port congestion has increased worldwide, the Ports of Los Angeles and Long Beach are handling these pressures better than most of the other major ports.”
Direct ChassisLink Inc., the Charlotte, N.C.-based chassis leasing company formed when Maersk Line decided to divest itself of its chassis fleet, has acquired REZ-1, a provider of domestic intermodal equipment management and services. REZ-1 currently manages more than 70,000 chassis used to move 53-foot domestic containers. DCLI currently has a fleet of about […]
A federal appeals court has reversed decisions in three class action lawsuits finding that independent contractors operating for FedEx Ground can be classified as employees. The contractors in question worked in California from 2000-2007 and in Oregon from 1999-2009. According to FedEx, it has limited itself to contracting with incorporated business — which […]
The Port of Virginia handled 207,771 TEU in July, surpassing the monthly record set last October by 1,174 TEU. The port’s revenues during the month were $37.9 million, and its operating income was $1.98 million, increases of 21.5 percent and 6 percent, respectively, when compared with last July. “This is a solid […]
The Port of Houston Authority said more steel moved across its docks in July than in any month since 2008. For the month, steel volumes reached 844,000 tons. However, container volume through the Gulf Coast port for July was relatively flat compared to last year, but saw a 4-percent increase in the […]
Two cargo terminals at the Port of Long Beach suspended vessel operations Wednesday because 10- to 15-foot high wave surges powered by Pacific Hurricane Marie endangered longshore workers. High waves were reported all along the coast in Southern California, delighting some surfers, while damaging homes and overturning boats at some marinas. Total Terminals […]
Maersk said it is raising rates Oct. 1 on transatlantic services from North Europe and the Mediterranean to the U.S. A general rate increase will be implemented on cargo from North Europe of $250 per 20-foot container and $350 per 40-foot or 45-foot container, be they dry or reefer boxes. From the […]
The Acteon Group, a global subsea services provider, has chosen the global trade management software provider Amber Road to automate and standardize restricted party screening across all of its worldwide branded services. Acteon, headquartered in Norwich, UK, is the umbrella company for a broad range of companies, with 35 different company sites, mainly […]
The U.S. economy grew 4.2 percent in the second quarter, according to a revised estimate by the Commerce Department. It previously said second quarter GDP was 4 percent. The economy bounced back strongly from the 2.1-percent decrease in the first quarter in large part because of strong exports. Real exports of goods […]
Among the first institutions to become a WiseEducation Partner is the University of Sydney’s Institute of Transport and Logistics Studies, part of Australia’s Key Centre of Excellence in Transport Research and Education.
Fick Port of Seattle commissioners have selected businessman Ted J. Fick as the port’s next chief executive officer, effective Sept. 29. The appointment must be formally approved by the port commission at its Sept. 11 public meeting. Fick will replace Tay Yoshitani, who is retiring as port director. “Ted has the right combination […]
The U.S. International Trade Commission has determined that domestic manufacturers of grain-oriented electrical steel (GOES) are not harmed by similar imports from producers in Germany, Japan, and Poland, although the Commerce Department had determined the product is sold in the United States at less than fair value. As a result of the ITC’s […]
Two New York state residents — Chenglan Hu, 52, and Hau Fei Zhang, 53 — pleaded guilty Wednesday to importing more than 100,000 counterfeit and hazardous children’s toys from China for sale in the United States, the U.S. Justice Department said. “The defendants made millions importing dangerous, knock-off toys that put children in […]
Air freight prices inched up to an average of $3.32 per kilogram in July, rising $0.02 from the average price paid in June, according to Drewry’s East-West Air Freight Price Index. The index takes an average of rates paid by forwarders, including surcharges, on 21 key trade lanes. The July rate reflects […]
FreightWatch International put out a call to action for logistics firms to “ensure security protocols are up-to-date and in line with industry best practices for both in-transit and warehouse operations – both will be heavily targeted.”
ZIM said it has upgraded its service between the Mediterranean and West Africa. The weekly MAF service will operate six vessels with the rotation of Tarragona – Valencia – Algeciras – Tangier (Morocco) – Dakar – Lagos (Tin Can Island) – Tema – Abidjan –Tarragona. The company said the new MAF line […]
Vietnam should be careful about going forward with plans to privatize airports, International Air Transport Association Director General Tony Tyler said in a keynote address at Vietnam Aviation Day. “Vietnam is a dynamic and rapidly growing aviation market. The successful development of aviation will pay big dividends to the Vietnamese economy. It must be […]
The ILWU and the PMA said that they had reached a tentative agreement on terms for health benefits, subject to agreement on other issues.
