Ken Uriu, marketing manager at the Port of Long Beach, said ports are eager to avoid an impasse such as that experienced in 2002, when a 10-day lockout of ILWU members shut down container terminals along the West Coast.
The global commodities shipper said it’s working with the classification society DNV GL, Royal Dutch Shell and international advisory firm Xyntéo to “evaluate possible ways to use LNG for dry bulk and tanker vessels.”
Air cargo rates on major east-west routes skyrocketed to $3.73 per kilo in October, jumping over September’s total of $3.24 per kilo, according to Drewry’s latest East-West Air Freight Price Index. The price increase is the largest Drewry has measured from month to month since it began its index in May 2012. Drewry’s […]
Market stability comes with slow growth for motor carriers, but are price hikes on the horizon? Business for U.S. trucking companies will taper off a bit in the next couple of years compared to the post-recession recovery since 2011 and costs will increase by 10 cents to 20 cents per mile over the next […]
U.S. Southeast, Northeast offer growth opportunities for industry. In the domestic intermodal market, many analysts and industry players point to the U.S. East Coast as the burgeoning hot spot for intermodal growth. The Southeast and Northeast have among the smallest shares of the regional intermodal market — the majority of the activity still occurs […]
Under the MAP-21 surface transportation legislation enacted last year, cargo brokers as of Oct. 1 must take out a $75,000 surety bond to ensure customers of their financial security. The bond amount previously was $10,000.
He will succeed John Reinhart, who will step down on Jan. 31, 2014, to become the CEO and executive director of the Port of Virginia. Bruner joined Maersk in 1989 and has been the president and chief executive officer of Maersk since 2004.
CEVA Logistics announced today that Marvin O. Schlanger will retire from his post as chief executive officer of the company on Jan 2., 2014, and will be succeeded by Xavier Urbain. Schlanger, who has served as CEO since October 2012, will remain non-executive chairman of the company board, a title he has held […]
Representatives from the New York Shipping Association, Waterfront Commission of New York Harbor, and the Port Authority of New York and New Jersey issued a terse statement that said “there was continued progress on port-hiring issues.”
Pritzker After a 13-city listening tour to get opinions from business leaders, entrepreneurs and employees, new Commerce Department Secretary Penny Pritzker on Thursday outlined a new policy strategy for creating conditions to help businesses succeed centered on trade, innovation and data sharing. Among the new initiatives in her “Open for Business” agenda are a revitalized […]
The Senate and House WRDA bills authorize about $8.2 billion in port and waterway projects each, but differ in areas such as how to fund ongoing construction of the Olmstead Dam mega-project.
In a continuation of its aggressive acquisition strategy, XPO Logistics has purchased last-mile logistics firm Optima Service Solutions for $26.6 million. For the past year, Optima generated revenues of $35.7 million and earnings of $3.7 million; the firm has boasted a 16-percent growth rate over the past five years, according to an XPO […]
Evergreen and Hanjin Shipping will start a new weekly service linking Korea, China, Vietnam, Singapore and Malaysia. The “New Ho Chi Minh Service” (NHS) will employ four ships, each with a 2,500-TEU capacity. One will be supplied by Evergreen and the other three by Hanjin. The service will have the following port […]
Texas-based Daseke, Inc., has acquired Boyd Bros. Transportation of Alabama and its subsidiaries, creating a full-service open deck and specialty trucking company with coverage throughout North America. Financial details of the transaction were not disclosed. Boyd Bros. will remain intact, without any personnel changes. Daseke’s president and CEO, Don Daseke, will become […]
The U.S. International Trade Commission has initiated four investigations to examine the impact of the African Growth and Opportunity Act (AGOA) trade preference program on the economies of sub-Saharan Africa and identify factors that have impacted trade, investment and the economic climate of the region. The investigations were requested by the Office of […]
Furniture retailer IKEA has acquired a 46-megawatt wind farm located in Alberta, Canada, from Mainstream Renewable Power. Terms of the deal were not disclosed. Mainstream has started construction of the Oldman 2 wind farm at a cost of about $90 million Canadian ($85.95 million). The wind farm is expected to be operational […]
American Airlines’ parent company, AMR Corp., and US Airways have applied as a combined company with NASDAQ. Upon the completion of the merger between the two companies, the new carrier will be listed under the AAL symbol. This week’s preliminary settlement between the carriers and the Department of Justice, which had banded together […]
The U.S. Export-Import Bank has backed two small businesses employing 165 workers in Wyoming and Texas to export about $7 million worth of nitrogen pumps to an energy company in Singapore. Payment was secured for the exporters by medium-term export financing extended by Wells Fargo and guaranteed by Ex-Im Bank. The transaction counts […]
The U.S. Commerce Department on Thursday reported that the country’s exports of goods and services dropped slightly to $188.9 billion, from $189.3 billion in August. Exports through the first three quarters of 2013 totaled nearly $1.7 trillion, with consumer goods, automotive vehicles and parts, and travel and tourism driving year-to-date export growth, the […]
The legislation would mandate that cargo pilots adhere to the Federal Aviation Administration’s new pilot fatigue guidelines, limiting the amount of continuous flying time for passenger pilots.
