TNT Express has agreed to sell its Dutch fashion business, TNT Fashion Group B.V., to a group of companies that includes Belspeed and the Netlog Group for an undisclosed amount. The fashion group’s works council and federal regulators both have to approve the deal, but the arrangement is expected to be completed during […]
The diplomatic crisis ensuing from Russia’s military intervention in the Ukrainian region of Crimea could harm trade with Ukraine. The biggest potential impact so far is on Ukrainian grain exports, which could benefit U.S. farmers. Sanctions imposed by the European Union, the United States, Switzerland, Austria, Lichtenstein and Canada are primarily targeted at […]
The U.S. Department of Agriculture has expanded its Farm Storage and Facility Loan program, which provides low-interest financing to small and mid-sized producers. The program includes 23 new categories of eligible equipment for fruit and vegetable producers, and makes it easier for the country’s farmers and ranchers to finance the equipment they need […]
OOIL Chairman C.C. Tung said that overcapacity will occur this year, stemming from tonnage growth, but that there will be higher demand than in 2013. OOIL saw revenue of $6.23 billion in 2013, compared to $6.46 billion in 2012.
American Airlines reported an 11.2-percent gain in cargo miles in February, with 173,529 cargo ton miles, up from 156,097 cargo ton miles in February 2013. United Airlines logged 182,913 cargo ton miles in February.
Private equity firm Wind Point Partners has invested an undisclosed amount for a majority stake in Dicom Transportation Group, with support from the current management and Scott Dobak, who will become Dicom’s chief executive officer. Rick McClelland, the former CEO of Dynamex, will serve as Dicom’s new chairman of the board, while Joe […]
The U.S. Commerce Department on Friday reported that the country’s exports of goods and services for January reached $192.5 billion, up from $191.3 billion in December. “U.S. exports are off to a solid start in 2014, and we will build on that success in the months and years ahead,” said U.S. Commerce Secretary […]
Details are still sketchy nearly three days after Malaysia flight MH370, a Boeing 777-200 that was traveling between Kuala Lumpur and Beijing, lost contact with air traffic control, and search parties from around the world have been combing the flight path, looking for clues to the missing airplane. Accounting for crew members, 239 […]
CBP Deputy Commissioner Thomas Winkowski laid out the possibility of expanding the CBP Trade Symposium to Mexico and Canada to exchange ideas for minimizing the regulatory burden on cross-border trade.
Investigators are trying to determine the cause of a fire that broke out Thursday on a barge that was being towed to Puerto Rico as part of Crowley Maritime’s regular service to the island. A Coast Guard spokesman said the fire had been extinguished and that the 730-foot container barge was currently docked […]
Sea Star Line has agreed to pay $1.9 million, and Horizon Lines has agreed to pay $1.5 million. The civil settlements resolve allegations in a lawsuit filed in federal court by former Sea Star Line executive William Stallings.
Hanjin Shipping America said it plans to relocate its Atlanta service center functions to its Phoenix service center and relocate claims functions from Atlanta to Phoenix. The changes are expected to be completed by July 1. Hanjin said centralization of the functions will allow it to leverage “technology, training, management and other assets […]
Kerlikowske Newly minted U.S. Customs chief Gil Kerlikowske on Friday told a gathering of 800 import and export professionals in Washington, D.C., that he will use his power to promote the nation’s economic security just as vigorously as homeland security. On Thursday afternoon, the U.S. Senate voted to confirm President Barack Obama’s nominee […]
Import container volume in March is expected to reach 1.28 million TEU at major U.S. retail container ports, a 12.4-percent increase over March 2013, as retailers begin to stock up for spring and summer business, according to the monthly Global Port Tracker report. Released today by the National Retail Federation and Hackett Associates, […]
As his first public speaking engagement as the new head of CBP, Gil Kerlikowske will make a surprise appearance at noon Friday at the CBP Trade Symposium in Washington, D.C.
European Parliament will vote April 4 on an amendment to the EU Emissions Trading Scheme directive that brings the scheme into effect within Europe until 2016, allowing for a review to take place at the next assembly of the International Civil Aviation Organization. The Permanent Representatives Committee agreed Friday to the compromise text […]
The Department of Transportation amended its emergency restriction regarding the transportation of oil via rail Thursday, as NTSB announced that a public hearing on rail crude will occur April 22.
Transpacific container volumes are expected to increase in the next several years, but increased capacity brought on by ships cascading from the Asia-Europe trade bring challenges as carriers seek to raise rates and prevent volatility.
United European Car Carriers (UECC), which is jointly owned by NYK and Wallenius Lines, has signed a contract to construct two Pure Car and Truck Carriers (PCTCs) that can optionally use LNG or heavy fuel oil and marine gas oil as fuel. UECC said they will be the first PCTCs to be fitted […]
UPS will begin transmitting information on hazardous materials electronically — by phone or fax — starting June 1, the company announced Thursday. The new method, authorized by the Department of Transportation Pipeline and Hazardous Material Safety Administration, affects small package tractor-trailer operations, the movement of small package shipments between UPS facilities and deliveries […]
