As the the second anniversary of the U.S.-Republic of Korea Free Trade Agreement (KORUS) nears, exports of U.S. manufactured goods to Korea have increased, and Koreans are buying more U.S. services than ever before, the White House said. KORUS, the White House said, has also improved South Korea’s investment environment through tougher provisions […]
COSCO Pacific said that through a strategic partnership with Hutchison Port Holdings Trust, it is acquiring a 40 percent interest in Asia Container Terminal Holdings (ACT) for $212.65 million. ACT operates Terminal 8 west at Kwai Chung in Hong Kong, adjacent to Terminal 8 east, the COSCO–HIT Terminal, another terminal that COSCO Pacific […]
Crowley said its Carib Energy subsidiary has been awarded a multi-year contract to supply containerized, U.S.-sourced liquefied natural gas (LNG) to its first industrial customer, Coca-Cola Puerto Rico Bottlers in Cayey, Puerto Rico, and its a sister company, the rum distillery Club Caribe in Cidra, Puerto Rico. Carib will supply and transport LNG […]
CMA CGM will begin calling the port of Buchanan in Liberia with its PC North service March 24, the company said. The French container carrier said it is the first shipping line to call the city, located 100 kilometers south of the capital, Monrovia, in 20 years. “This new call primarily responds […]
A shipping association chairman is warning that exporters of forest products in containers through the Port of Vancouver may move their cargo to other ports, switch to using breakbulk vessels or do both because of an ongoing strike.
The Port of New York and New Jersey is being severely impacted by a shortage of chassis needed to deliver and pick up containers at marine terminals, according to drayage companies and forwarders/custom house brokers.
Global air cargo demand growth is projected to hit 4 percent this year, a significant increase over the previously forecast 2.1-percent growth rate for 2014, according to IATA.
Hub Group has renamed its drayage subsidiary to Hub Group Trucking. The name change from Comtrak Logistics underlines the importance of trucking in Hub Group’s operations, according to a press release. “We are proud to have built a drayage company that qualifies among the Nation’s top 100 motor carriers,” Mark Yeager, Hub […]
Russian intermodal transport operator Ruscon has started a scheduled flexitank container service to Kazakhstan. In the first quarter of 2014, about 40 containers arrived from Italy at the port of Novorossiysk on the Black Sea, the company said. This number is expected to increase over the next few years. From Novorossiysk, the […]
TNT Express said Wednesday it would invest “tens of millions of euros” to increase productivity and efficiency at its hub in Liege, improving the facility’s sorting capacity by 50 percent, among other things. Installation of new sorting systems in the 75,000-square-foot space will begin later this year; work is expected to be completed […]
Evergreen Line is planning to terminate its vessel-sharing agreement on the ANS USEC-Caucedo-Brazil service in April, the company said Wednesday.
Ship Finance International Limited said Tuesday it will acquire two 5,800-TEU container ships built in 2001 and 2002 in combination with long-term charters. “The vessels are expected to be delivered to SFL over the course of the next few weeks, and the annual EBITDA contribution is estimated to be approximately $5.5 million on […]
Pilgrim Pipeline Holdings Inc. is proposing construction of a dual pipeline between Albany, N.Y., and northern New Jersey. One pipe would carry refined products such as gasoline, diesel, heating oil, and jet and aviation fuel north, while the other pipe would be used to move crude oil south from Albany to refineries and terminals […]
The ruling, which found that the FAA doesn’t have jurisdiction because the unmanned aerial vehicle didn’t fit the “aircraft” classification, could have implications for the regulation of commercial drone use.
The Federal Maritime Commission “unanimously voted to effectively allow the Ports of Seattle and Tacoma to move forward on a cooperative agreement to exchange information and work together to find synergies,” Commissioner William Doyle said.
The announcement Monday that two big fruit companies — Chiquita and Fyffes — plan to merge also means that two of the top 10 operators of conventional breakbulk reefer ships will combine.
Old Dominion Freight Line on Monday reported a year-over-year increase in its less-than-truckload tons per day for February of 11.7 percent, which followed comparable-period growth of 10.1 percent for January 2014. Based on these results and its outlook for March, Old Dominion on Tuesday raised its expectations for growth in first-quarter 2014 LTL […]
Florida Gov. Rick Scott visited the Jacksonville Port Authority on Monday to kick-off the beginning phase of the Intermodal Container Transfer Facility, which is expected to be completed in 2015. The port said the new facility will increase cargo transfer efficiency between ships and trains. The project, with a price tag of […]
Port Metro Vancouver says it is taking security measures amid a strike by container truckers that is dramatically disrupting port operations, while working to address the group’s concerns. According to CBC News, the strike group, made up of union drivers and non-unionized drivers, includes about 400 workers, and is responsible for nine picket […]
U.S. Bank and Nexus Systems on Monday said that they are entering into a strategic agreement to establish a new standard for end-to-end electronic invoice processing and payment. The partnership will seek to combine Nexus’ invoicing software expertise with U.S. Bank’s payment-processing capabilities to create completely automated accounts-payable management solutions. Among U.S. […]
