News reports say a Chinese company, HK Nicaragua Canal Development Investment, is working with the Nicaraguan government on a $40 billion project that would provide a vessel transit alternative to the Panama Canal.
U.S. Customs and Border Protection will begin full enforcement of the Importer Security Filing requirement on July 9, the agency announced Friday. On that date, the agency will begin to issue liquidated damages for ISF violations, such as filing incomplete, inaccurate or late documentation. The ISF rule went into effect on Jan. 26, […]
According to an Associated Press report, EU regulators are poised to approve Delta Air Lines’ purchase of a 49-percent stake in Virgin Atlantic without conditions. Delta purchased the stake in Virgin last December for $360 million, and officials from both carriers have been waiting on the necessary regulatory approvals from the U.S. Department […]
European and Israeli officials have signed a comprehensive air transport agreement, allowing carriers to fly between the countries on a limited basis. Current restrictions on flights will be eased over the next five years, and by 2018, both will enjoy unfettered access to each other’s airports. “Israel is a key partner for […]
President Obama’s nominee for U.S. Trade Representative, Michael Froman, spent Thursday on Capitol Hill telling the Senate Committee on Finance that his goals of promoting growth and bolstering the economy will be achieved by renewing Trade Promotion Authority and making sure pending free-trade agreements come to fruition. Obama tapped Froman, who has been […]
Gerry Wang, the chief executive officer of Seaspan, one of the world’s largest builders and charterers of containerships, told financial analysts that while freight rates are depressed, there is no shortage of demand for efficient new vessels.
Port operations will be put on hold for a half day on June 12 at the Port of Virginia so that port management and users can talk with longshoremen about market conditions, industry trends and efficiency at the port.
The way truckload carriers price their services has been affected by increased usage of transportation management systems, Stifel Nicolaus said. It also noted that shippers rely more and more on third- and fourth-party logistics providers.
Intermodal traffic rose 3 percent, year over year, to 1.21 million containers and trailers, according to the Association of American Railroads. May’s weekly average for intermodal traffic stood at 242,823 containers and trailers.
The Brazilian government has launched a $41 million real ($19.24 million) grant program intended to boost its competitiveness in the shipbuilding industry by generating new technology and equipment for vessels. According to a statement, the goal is to increase jobs in shipbuilding as well as increase the efficiency of the ships themselves. Individual […]
Grup Maritim TCB, a global marine terminal operator, said Mexican cucumber exports to the United States and Europe from its terminal at Puerto Progresso on the Yucatán peninsula reached a record high of 1,490 TEUs during the harvest season between November and April. The containers held about 30,000 tons of the vegetable. The […]
German national railroad DB Schenker announced plans to operate a “Bospherous Shuttle” linking Germany and Turkey with up to five pairs of freight trains per week. The service is scheduled to begin in September with three trains. The railroad said it will take five days to cover the 2,000 kilometer route […]
The agreement with the Oregon International Port of Coos Bay, signed last week, is to run the 134-mile railroad. CBR has been running revenue freight trains on the line since October 12, 2011, under an interim agreement.
The Japanese online retailer Rakuten is set to acquire Las Vegas-based online fulfillment firm Webgistix for an undisclosed amount. Rakuten Chief Executive Officer Hiroshi Mikitani unveiled the deal at an e-commerce event in Chicago. Webgistix’s five facilities located throughout the U.S. will give the Japanese retailer a large footprint in the country. […]
“FOB has been the default shipping choice for years, primarily because companies didn’t have offices in Asia or boots on the ground to arrange and track trucking and shipping,” said an executive with Ryder.
Masamichi Morooka, the chairman of the International Chamber of Shipping (ICS), said this week that new legislation to protect the environment could potentially cost the shipping industry $500 billion between 2015 and 2025. “As many companies struggle to survive during the difficult years ahead, we must persuade governments to avoid placing yet more […]
The amendment to the Department of Homeland Security Appropriations Act would maintain funding for the Port Security Grant program. Last year, Congress appropriated $97.5 million for the program, a quarter of 2009’s amount.
U.S. Transportation Secretary Ray LaHood named seven people to the board of the U.S. Merchant Marine Academy, which has been rocked by a series of controversies in recent years.
Volga-Dnepr Airlines has signed an agreement with Paris-Vatry Airport, located to the east of Paris, to base up to three IL-76TD-90VD freighters at the airport. The carrier recently invested more than $100 million on its fleet of five IL-76TD-90VD freighters. The craft are more fuel efficient and less noisy than than the older […]
The Michigan Department of Transportation has awarded a Wayne State University professor with a one-year, $175,000 grant to study differential speed limits on highways. In Michigan, Indiana and other states, differential speed limits have long been thought to reduce crashes. Trucks need a lower speed limit than cars, officials reasoned, because it takes […]
