Section 301 tariffs across $200 billion worth of goods from China are set to rise from 10 percent to 25 percent on March 2, unless the U.S. and China can reach a deal.
Year-over-year contract rates are projected to increase and overall rates are expected to remain mostly flat this year.
Vasquez, the new administrator, will take office in September; Espino de Marotta, who led the canal’s expansion program, will take office in January 2020.
The expansion has doubled the terminal’s annual container throughput to 1.2 million container lifts a year.
The port handled 14.51 million TEUs and had a total throughput of 469 million tons, both of which were record highs.
While contaner volumes were flat in 2018, more cargo is moving to and from the port by rail.
The Swiss forwarding company Panalpina and Kuwait-based Agility talk “partnership opportunities” while the Danish firm DSV makes an all-cash offer for Panalpina.
FedEx shares also tumble over speculation that Amazon may handle more logistics work in house.
The Maritime Administration’s Port Infrastructure Development program receives funding for grants for the first time in the Consolidated Appropriations Act, 2019.
Customs and Border Protection said shipments on board the Yantian Express were in the process of being released prior to arrival in the U.S.
Interorient Marine Services will pay a $2 million fine to the U.S. government for attempting to conceal oily discharges into the Gulf of Mexico.
The rule is a revision of an existing one and requires railroads to establish geographic response zones and ensure personnel and equipment are staged and prepared.
OFAC said the violations were the result of rogue managers at AppliChem continuing illicit exports from Europe to Cuba under the nose of their U.S. owner.
The record-setting stow took place at the PSA Singapore terminal on the ultra large containership’s westbound departure to North Europe.
But U.S.-China Business Council Senior Vice President Erin Ennis indicated she sees a path forward in negotiations during the National Association of Foreign-Trade Zones Legislative Summit.
An increase in the gas tax and maintaining balanced economic regulation in railroading also were discussed during Wednesday’s Senate committee hearing.
The Port of Long Beach, however, had decreases in total volume, imports and exports in January.
Philadelphia-area company will supply fuel equal to about 10 percent of Maersk’s needs
World’s largest container lessor says customer demand was supported by solid trade growth and increased reliance by carriers on leased containers.
Heads of less than container load and finance and a maritime director are appointed.
