President Donald Trump revealed Thursday he will assess 25 percent tariffs on steel and 10 percent tariffs on aluminum “for a long period of time.”
The “initial formula” for bond calculation is expected to be finalized by late April, according to a document submitted prior to a quarterly meeting of U.S. Customs and Border Protection’s Commercial Operations Advisory Committee.
A consortium of private investment firms has agreed to purchase 94.9 percent of HSH Nordbank AG, which was at one time the largest provider of ship financing in the world, for around 1 billion euros (U.S. $1.2 billion).
The U.S. maritime regulator collected a total of $465,000 in civil penalties from the non-vessel-operating common carriers for allegedly violating the Shipping Act or commission regulations.
The freight forwarding marketplace technology provider launched a new product, giving forwarders and non-vessel-operating common carriers the ability to offer real-time pricing on their own websites via an application programming interface.
Despite a 3.5 percent decline in January 2018, total throughput at the Port of Virginia so far in fiscal year 2018 is up 4.4 percent compared with the same period a year prior, according to the most recent data from the mid-Atlantic port.
U.S. Customs and Border Protection is still working with its Commercial Customs Operations Advisory Committee in finalizing new requirements for the Customs Trade Partnership Against Terrorism.
The containership lessor also said there may be opportunities for consolidation in the fragmented containership chartering business.
Shipment volumes for the month slid 1.7 percent from December, but were up 12.5 percent compared with January 2017, while expenditures fell 1.8 percent sequentially, but rose 14.2 percent year-over-year, according to the latest Cass Freight Index Report.
The Japanese shipping company will restructure April 1, which happens to be the same day its container shipping joint venture with “K” Line and NYK, referred to as the Ocean Network Express, is scheduled to commence operations.
Intermodal equipment provider and chassis pool operator TRAC Intermodal is expanding and improving the quality of its chassis fleet in the region in preparation for an expected surge in U.S. resin exports, the comapny revealed Thursday.
Former Maersk executives launch a new blockchain- and sensor-backed container registry and initial coin offering as crypto creeps further into the container shipping industry.
South Korea’s Hyundai Merchant Marine (HMM) has confirmed it will reenter the Asia-North Europe lane after a one-year hiatus as a vessel operator and order new ultra-large containerships this year that will likely be deployed in the trade once delivered.
The German ocean carrier increased its operating result, revenues and volumes from 2016 figures, largely thanks to its acquisition of United Arab Shipping Co., which closed May 24, 2017.
Mike Toohey, CEO of Waterways Council, Inc., said several elements of President Donald Trump’s plan, including the proposed decrease of federal dollars, will be “non-starters” in terms of gaining industry support.
The global third-party logistics provider managed to increase earnings, revenues and volumes during the year, in addition to closing on various acquisitions.
United States gross domestic product (GDP) increased at an annual rate of 2.5 percent in the fourth quarter of 2017, according to the “second” estimate from the Department of Commerce, down from 2.6 percent in previous projections.
The total value of cross-border trade between the United States and its partners in the North American Free Trade Agreement (NAFTA) rose 7.4 percent year-over-year to $93.5 billion for the month, according to the Bureau of Transportation Statistics (BTS).
The International Trade Commission must now make final determinations on the Commerce Department’s findings that Chinese producers of aluminum foil are receiving unfair subsidies and dumping the product in the U.S. market.
The global third-party logistics provider introduced WMx, a cloud-based, mobile software platform that creates a single solution for warehouse integration.
