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.
J.B. Hunt Transportation Services generated record fourth quarter net earnings of $84 million, an $11.4 million rise over 2011’s total. Operating revenue for the fourth quarter also rose, year over year, from $1.2 billion to $1.34 billion. J.B. Hunt, based in Lowell, Ark., continued to pay down debt in 2012, finishing the year […]
In a move to diversify its business, Indiana-based transportation equipment manufacturer Wabash National Corp. has purchased assets from Portland, Ore.-based aluminum tank maker Beall Corp. for $15 million. The acquisition is expected to close in the first quarter. The assets, which were auctioned off as part of Beall’s bankruptcy proceedings, include equipment, […]
Using three main hubs in Africa, London-based Coyne Airways has created an African network that connects more than 30 destinations on the continent. The move transitions African air cargo services away from a point-to-point system by making use of interline carriers and Coyne’s own network. Cargo on the new routes is expected to run […]
Volvo has agreed to acquire 45 percent of a Donfeng Motor Group (DFG) subsidiary that manufactures medium- and heavy-duty vehicles for RMB 5.6 billion. DFG had partnered with Nissan Motors on the medium- and heavy-duty operation, Donfeng Commercial Vehicles, before recently purchasing it outright. The transaction is subject to regulatory oversight, and […]
Manuel Ernesto Ortiz-Barraza, an independent financial consultant, was extradited to the United States from Mexico Friday for his alleged role in a scheme to defraud the U.S. Export-Import Bank of over $2.5 million, according to the U.S. Justice Department. Ortiz-Barraza, 56, was charged in an indictment unsealed on Oct. 19, 2011, in the […]
The U.S. International Trade Commission said domestic manufacturers are unfairly harmed by subsidized exports of large residential washers made in South Korea and similarly from imports of these products from both South Korea and Mexico which are dumped on the U.S. market. All six ITC commissioners voted in the affirmative. As a […]
The liner carrier CMA CGM has sold a 49 percent stake in its terminal operating subsidiary Terminal Link to China Merchants Holdings, the largest public port operator in China, for 400 million euros ($538 million).
The Canadian railroad has been an industry leader in making intermodal comparable to a truck service to attract shippers that demand fast and reliable freight transportation – and continues to hone its products.
In an email to close associates, Ram Menen wrote that he’s taking early retirement from his 27-year Emirates SkyCargo career to spend more time with family and friends and continue to travel the world.
The port director of the Tampa Port Authority said robust growth in Latin America presents potentially significant opportunities to ports at the intersection of major East-West and North-South trade lanes.
