Southern California’s Port of Long Beach said it will discuss a potential lease or purchase of One World Trade Center in Long Beach at its board meeting on Monday. The Los Angeles Times reported the port has tentatively agreed to purchase the 27-story building for $130 million, which it said is less than […]
Washington Notebook
A trio of liner carriers operating a service between the west coast of South America and the U.S. East Coast will tweak the loop’s rotation to include new calls at Buenaventura and Balboa. The Americas service, operated by CSAV, Hamburg Süd, and CCNI, will include the new calls northbound, while a northbound call […]
Evergreen Line said this week it is splitting an intra-Asia service between China and Indonesia into two unlinked feeder loops. The carrier’s former HBI service will now become two feeders – one linking Hong Kong with mainland China and another linking Tanjung Pelepas with Indonesia. Evergreen said the move was made to “better […]
Maersk Line, Limited (MLL), the U.S.-flag vessel arm of A.P. Moller-Maersk, will support the development, financing and construction of utility-scale offshore wind energy facilities in North America.
Stolt-Nielsen said it had profit of $22.2 million in the third quarter ending Aug. 31, compared to a profit of $26.6 million in the same 2010 period. Profits were lower even though operating revenue rose to $529.8 million in the third quarter, compared to $449.6 million in the same 2010 period. Based […]
Horizon Lines has completed a $652.8 million comprehensive refinancing that will give it adequate liquidity to fund continuing operations and the ability to achieve substantial additional debt reduction. “We now have a new capital structure that eliminates the refinancing uncertainty faced by our company over the past several months and better positions us […]
Horizon Lines completes refinancing
The American Salvage Association has elected Tim Beaver, chief executive officer of Global Diving & Salvage, Inc., to president. Beaver succeeds Mauricio Garrido, who served as president from 2009-2011. Paul Hankins at Donjon-SMIT was elected vice president of the association, while Todd Schauer of Resolve Marine Group will be secretary/treasurer. […]
The U.S. Export-Import Bank is supporting its first transaction in the Central Asian nation of Tajikistan, which includes the purchase of Boeing 737-900ER plane by Somon Air, an airline based in Dushanbe. This is Boeing’s first sale to Somon Air and the first export of its 737-900ER and “Sky Interior” aircraft to Central […]
Keep working
U.S. trade negotiators on Thursday submitted information to the World Trade Organization identifying nearly 200 subsidy programs that China has failed to present as required under WTO rules.
U.S. Customs and Border Protection said it is shining its enforcement spotlight on imports of conversion kits for high-intensity discharge lamps, replacement light sources and ballasts that violate federal safety standards. Shipments of non-compliant merchandise are being identified at the agency’s Commercial Targeting and Analysis Center (CTAC) for Import Safety with the help […]
Globe Express Services has appointed Gregory Tampas to president for its Americas region. Tampas began his logistics career in 1992 with CP Ships in Montréal, Canada. In 1997, he joined Hapag-Lloyd’s sales team in Canada, and two years later was appointed to corporate sales and marketing manager in Hong Kong, responsible for all […]
Press reports say the Port of Los Angeles has decided not to challenge a court decision last month that voided its requirement for container dray truck drivers to be employees.
Rep. Chellie Pingree, D-Maine, has introduced a bill that would create a grant program devoted to preserving “working waterfronts” across the country. “Maintaining working waterfronts preserves and creates coastal jobs, but also jobs beyond the water’s edge,” she said. “Waterfront and waterway businesses support entire economies that depend on the American tradition of […]
Going Global With Regulatory Reform
The FMC’s decision to study disparities that may be causing U.S.-bound cargo to be pushed to Canadian and Mexican ports draws sharp reaction from Canadian business.
The U.S. Federal Maritime Commission on Wednesday voted unanimously to issue a proposed rule aimed at making it easier for ocean carriers and shippers to use service contracts with rates linked to freight rate indexes. Under the commission’s current rules, service contracts can only reference outside terms, such as a rate in a […]
CMA CGM raises rates, peak season fees
