Both APM Terminals and a group that includes Maher Terminals and JPMorgan IIF Acquisitions LLC have submitted bids to privatize the VPA terminals under the state’s Public-Private Transportation Act of 1995.
The Commerce Department recently issued a report updating Congress on the Obama administration’s National Export Initiative and its plans for the fourth year of the collective government effort to boost overseas sales. The five-year strategy aims to raise exports to $3.2 trillion by the end of 2014. Exports of goods and services over […]
Japan is currently the No. 2 market for U.S. beef exports in terms of value and No. 3 in volume (143,900 metric tons or 317.2 million pounds) valued at $969.8 million through the first 11 months of 2012.
OOCL said it will implement a general rate increase in the westbound transatlantic trade on March 1. Rates for dry cargo will be hiked $300 on 20-foot containers and $400 on 40-foot and 45-foot boxes for all routes/loops offered from Europe to the United States and Canada. – Chris Dupin
New orders for manufactured durable goods increased by 4.6 percent in December to $230.7 billion, according to the U.S. Department of Commerce. The December bump comes after the 0.7-percent increase measured in November; manufacturing has increased in seven of the past eight months. Orders for transportation equipment soared by 11.9 percent to […]
The National Retail Federation on Monday forecast retail industry sales (excluding automobiles, gas stations, and restaurants) will increase 3.4 percent in 2013. That’s down slightly from the preliminary 4.2 percent growth seen in 2012. The subdued forecast comes on the heels of a holiday season that was affected by political wrangling over fiscal […]
Port Freeport in Texas received a positive report from the U.S. Army Corps of Engineers’ chief to deepen and widen its harbor channel. The Freeport Harbor Channel Improvement Project (FHCIP) has been an 11-year effort between the Corps and port authority. The report will now be transmitted to Congress and recommends the project […]
Evergreen Line launched a new feeder service linking Greece, Turkey and Malta (GTM) on Monday. The 600-TEU Kirsten sailed from Piraeus and will make the following rotation every 10 days: Piraeus, Thessaloniki, Gebze, Marsaxlokk, and Piraeus Evergreen said the GTM service will enhance transhipment connections to Thessaloniki and the direct call to Gebze […]
The terminal operator DP World said its terminals handled 56.1 million TEUs in 2012, a 2.4 percent increase over 2011. DP World operates more than 60 terminals across six continents, with container handling generating about 80 percent of its revenue. In addition, the company currently has 11 new developments and major expansions underway in nine countries. At […]
The U.S. Export-Import Bank on Monday opened its newest regional export finance center in Detroit. This is the latest opening of four planned regional export finance centers by Ex-Im Bank in its effort to help local businesses improve their export sales and create jobs. The new regional office is located at the […]
U.S. steel imports declined 13.9 percent in December compared to November, according to preliminary government data compiled by the American Institute for International Steel (AIIS). “Imports plummeted in December compared to November as many buyers backed out of the market when these products were ordered and instead minimized inventory as the end of […]
The U.S. Export-Import Bank will guarantee a $780,000, 10-year loan to be made by UPS Capital Business Credit to finance the export of photovoltaic solar modules from Suniva Inc. in Norcross, Ga., to a rooftop solar-power project of Grupo Metal Intra S.A.P.I. de C.V. (GMI) in Mexico. The transaction is being made possible […]
The North American Millers’ Association (NAMA) on Monday said its president, Mary Waters, has decided to resign her position. The Washington-based trade group said the “employment relationship is being ended amicably on mutually agreeable terms.” NAMA, a proponent of free trade and U.S. food aid, supports the wheat, corn, oat, and rye milling industries. […]
Lauren Kaufer previously was acting director of U.S. Customs’ personnel security division in the Office of Internal Affairs. She is a former civil litigation attorney and a graduate of CBP’s Leadership Institute.
In the final year of a two-year the Dutch government’s 1.2-million-euro paperless air cargo initiative, e-freight@NL achieved 21,176 paperless shipments through Amsterdam Airport Schiphol. That number represents a significant increase from its start in July 2010; during the first six months, 1,655 shipments were sent with electronic documentation. New York, Los Angeles and […]
The U.S. and Japanese governments today have agreed on new terms and conditions which open the door for expanded exports of U.S. beef and beef products to Japan. Under these new terms, effective Feb. 1, Japan will permit the import of beef from cattle less than 30 months of age, compared to the previous limit of […]
Supply chain barriers are far more serious threats to world trade than tariff barriers, according to a report released last week by the World Economic Forum (WEF). The report, Enabling Trade Valuing Growth Opportunities, found that reducing supply chain barriers to trade could increase global GDP up to six-times higher than removing tariffs. […]
The steady growth of transloading in Southern California is welcomed by officials at the local ports because it represents an opportunity to attract more import cargo, but the trend also has implications for port development that need to be better understood, according to a regional transportation planner. Reloading smaller international containers into bigger […]
The railroad’s investments reflect the profitability of the freight railroads and their desire to keep up with growing demand as the population, highway congestion, international trade and U.S. reindustrialization increase.
In a statement to the Hong Kong Stock Exchange, China COSCO Holdings Co. Ltd. warned that it expects “to record a significant net loss” for 2012, in contrast to its profit of 10.4 billion Chinese yuan renminbi ($1.7 billion) in 2011.
