The U.S. Commerce Department on Friday reported U.S. exports of goods and services in February reached $186 billion, an increase of $1.6 billion from January. Imports of goods and services also increased slightly, by $61 million, to $228.9 billion. As a result, the trade deficit improved, decreasing to $43 billion in February from […]
Shusen Wei, 45, a citizen of China, pleaded guilty Friday in Miami federal court to charges stemming from his involvement in the smuggling of a carved rhinoceros horn from the United States to China, the U.S. Justice Department said. Wei entered his guilty plea before U.S. District Judge Cecilia M. Altonaga, who scheduled […]
The House proposal, which will be up for a vote Monday, April 8, hopes to pay for transportation programs, such as road and bridge repairs, by increasing the gasoline tax by three cents per gallon, among other measures.
Hong Kong’s High Court has extended an injunction first obtained April 1 on striking dockworkers, barring them from entering container terminals in Kwai Chung where the port’s container terminal is located.
Poor roadways cost Nevada residents $2.1 billion annually due to congestion, additional vehicle operating costs and lost time, but fixing the state’s infrastructure will cost $2 billion, according to a report released by the research firm TRIP. The Nevada Department of Transportation has put the cost of infrastructure improvements at $3.4 billion by 2025 […]
“Given that market conditions are extremely fragile, we believe that, to keep the industry in the black, leading container operators will have to maintain stringent capacity management and pricing discipline,” the rating agency said.
The Corps of Engineers completed the 10-year, $370 million deepening of the port’s main navigation channel and turning basins, enabling it to receive a new generation of super-size vessels now being deployed.
Damco, the logistics services arm of A.P. Moller-Maersk, has opened a 16,000-square-meter warehouse in Cambodia, adding to its first facility in the Southeast Asian country which opened in August 2011. The development marks Damco’s continued interest in this emerging market. From the new facility, Damco will provide customers with inventory management, radio-frequency scanning, order processing, […]
Consolidators International (CII) and the Swiss forwarding company Cotrafi-Gondrand Tahiti have signed an exclusive agreement for the Los Angeles-based company to handle air and sea freight from the United States to the islands of French Polynesia. Each company will act as an agent for the other in cooperating sales efforts and operations in […]
CSAV, the Chilean container shipping company, said it will invest $570 million in its business, building seven new ships and paying back a $258 million loan at a steep discount. The company said it will buy seven 9,300-TEU ships that will be built by Samsung Heavy Industries. When the ships are delivered, the company […]
Retail trade in the euro area, composed of 17 nations of the European Union, fell by 0.3 percent from January to February, while retail trade across the broader 27-member region remained flat, according to Eurostat. From December to January, trade rose in the euro area rose by 0.9 percent and increased by 0.8 percent in […]
The news this week that freight payment and audit services provider Trendset has been beset by internal embezzlement and fraud comes at a particularly interesting point in the evolution of the freight payment and audit industry.
The Netherlands-based third party logistics firm achieved record revenue of 7.22 million euros ($9.28 million) in 2012, a 4.8-percent, year-over-year, growth rate, but took a 21.8-percent hit in its adjusted earnings.
The White House has not named a political nominee since former Commissioner Alan Bersin departed about 15 months ago. Career agency officials have continued to push through organizational and programmatic reforms.
Six U.S. government agencies on Wednesday joined together to kick off a new pilot program to expand federal export assistance to small businesses. The program, U.S. Global Business Solutions, hopes to add 50,000 small businesses to the nation’s exporter base by 2017. Small Business Administrator Karen Mills said the pilot program will […]
In its annual report, the European Shippers Council reiterated that the European government needs to safeguard the 32-billion-euro infrastructure allowance that’s part of the Connecting Europe Facility in the 2014-2020 budget. ESC hopes the budget will be resolved soon and finalized this sometime this year. The council stressed the importance of the government […]
The U.S. International Trade Commission said it’s seeking input for a new investigation into proposed modifications of the North American Free Trade Agreement (NAFTA) rules of origin. The investigation, Probable Economic Effect of Certain Modifications to the North American Free Trade Agreement Rules of Origin, was requested by the Office of the U.S. […]
The International Aerospace Environmental Group is preparing a global declarable substance list to be used voluntarily by aerospace product manufacturers. The group says this list will help those in the supply chain know more about the chemicals and materials used to manufacture the equipment. This will result in increased efficiency, lowered costs and […]
The City of Long Beach is appealing to the Los Angeles City Council not to approve the Southern California International Gateway rail yard project recently forwarded by the Port of Los Angeles. On Wednesday, the Port of Long Beach Harbor Commission formally went on record supporting the city’s position, saying the Port of Los […]
