The U.S. Export-Import Bank entered an agreement with trade credit insurer Coface North America Insurance Co. to provide reinsurance. The bank introduced its reinsurance product two years ago to help U.S. small business exporters obtain short-term export credit. Since then, participating private-sector insurers of export credit are eligible to apply for Ex-Im Bank’s […]
Hamburg Süd said Monday it has hired Ryan Dooley as an account executive in the Boston area. Dooley previously served with Sea Star Line and has held operations and sales positions.
Revenues in the first nine months of this year were $4.47 billion, 7 percent more than in the first nine months of 2011. Volumes for the same period was 3.9 million TEUs, 5.1 percent more than in the first nine months of last year.
James Kwon, the maritime director at the center of the travel reimbursement-scandal at the Port of Oakland, was ordered to return from overseas business travel and immediately placed on paid administrative leave Friday.
The logistics services provider Kuehne + Nagel Belgium said Monday it has built a logistics e-commerce platform and warehouse management system for the toymaker LEGO Group. LEGO direct-to-consumer Internet orders are being processed for deliveries in Europe, Australia and New Zealand through the system. K+N said its 45,000-square-meter facility in Geel, Belgium, will […]
Foreign direct investment into Colombia has risen nearly 16 percent this year, with a number of global retailers planning to increase the number of outlets they operate in the country, according to the Colombian embassy. Between January and September, FDI rose to nearly $13 billion, a 15.8 percent year-on-year increase. FDI into Colombia […]
Hyundai Merchant Marine said Friday it will begin assessing a new Korea inland surcharge on North American export shipments from Nov. 15. The surcharge, $70 per container (for all sizes and types of equipment), will be applied on all exports from the United States and Canada to all inland points in Korea. Cargo […]
The European Commission has delivered a document to UPS and TNT Express detailing the reasons why it objects to their intended merger, the two companies announced Friday. Combination of the two integrated parcel delivery companies would create a powerhouse in Europe rivaling DHL. EU regulators in recent weeks have hinted in recent weeks at […]
The U.S. Justice Department has intervened in a lawsuit that claims the Houston-based stevedore, Jacintoport International LLC, a division of Seaboard Corp., overcharged for loading food aid cargo.
The liner carrier MOL said Friday it met internal intermodal transit on-time performance targets for five of 18 origin-destination pairs in the third quarter of 2012. The carriers has tracked the on-time performance of intermodal moves from three ports in Asia (Shanghai, Yantian, and Cai Mep) to six mostly inland U.S. points (Atlanta, […]
The U.S. Commerce Department has initiated antidumping and countervailing duty investigations of hardwood and decorative plywood imports from China.
The liner carrier CMA CGM said Friday it plans to increase the peak season surcharge on shipments from the Mediterranean to Latin America from Nov. 1. The existing 125-euro surcharge per TEU will be increased to 150 euros from West Med ports (including Fos, Genoa, Livorno, Napoli, Algeciras, Barcelona, Valencia) to Venezuela, Colombia, […]
Bahri, formerly the National Shipping Company of Saudi Arabia, said it had a profit of 60.2 million Saudi Riyal ($16.1 million) in the third quarter ending Sept. 30, compared to SAR 23.4 million for the corresponding quarter for the year 2011, an increase of 157 percent. Saleh Nasser Al-Jasser, the company’s chief executive […]
Benjamin Port commissioners at the Port of Oakland late Thursday placed Executive Director Omar Benjamin on paid administrative leave following revelations of employees submitting improper travel expenses, including a reimbursement for visiting a strip club. The board of commissioners named Deborah Ale Flint, director of aviation, to interim executive director while the investigation into […]
Kansas City Southern had a net profit of $90.7 million in the third quarter, compared to $100.1 million in the same 2011 period. The railroad said revenues hit a new record of $577 million, 6 percent more than the $544.5 million recorded in the same 2011 period. David L. Starling, KCS president […]
Southeastern Freight Lines, a Lexington, S.C.-based regional less-than-truckload carrier, has expanded its business in Texas by opening a new service center in Fort Worth. The new facility features a 15,000-square-foot office, 10,000-square-foot appointment warehouse, and 125 truck doors. “This service center will lighten the load on our Dallas service center,” said Matt […]
The Federal Mediation and Conciliation Service said Thursday it has stepped into contract talks between several locals of the International Longshore and Warehouse Union and Pacific Northwest Grain Handlers.
Liberty Maritime says proposed changes keep U.S.-owned firms out of MSP. By Chris Dupin A New York shipowner says proposed changes in the Maritime Security Program (MSP) would lock in the current participants of the program through 2025, limiting the military and making it more difficult for companies, including his, to compete for contracts […]
The union’s Local 19, which filed a lawsuit in King County Superior Court Wednesday challenging the decision to build the sports arena, alleges Seattle and King County violated the State Environmental Policy Act.
“Onshoring is still in its infancy and largely limited to anecdotes. However, the scales are beginning to rebalance for some industries as global conditions evolve,” wrote Michael Dolega, TD Bank’s economist.
