The investment fund is seeking to take advantage of the struggling shipping market by investing in modern vessels operating in sub-sectors that are experiencing substantial distress.
The Ocean Network Express – consisting of Japanese ocean carriers “K” Line, MOL and NYK – will have a containership fleet of close to 1.4 million TEUs when it launches, giving it about a 7 percent market share based on today’s fleet, according to Drewry.
The Montreal-based Class I railway has been ordered to pay a federal fine of $2.5 million Canadian (U.S. $1.9 million) and a provincial fine of C$125,000 in relation to a diesel fuel discharge on the North Saskatchewan River in April 2015.
The terminal operator SSA Pacific has handled Chilean fruit imports and exports at the Port of Los Angeles since 1988 and will now continue to do so for at least another five years, according the Southern California port.
The French ocean carrier has purchased the 6,589-TEU Maule for $20.3 million, according to a report from maritime news outlet Splash 24/7.
Meanwhile, UPS Freight rates are scheduled to increase by 4.9 percent effective June 26, the Atlanta-based parcel giant said.
The Commerce Department has determined that Chinese hardwood plywood is being dumped on the U.S. market at less than fair value.
Plans regarding Arctic shipping, port alliances and marine security are laid out in the maritime initiatives released on Tuesday.
The World Trade Organization has updated its website to offer shippers a clearer and more up-to-date view into its members’ legislation and practices as they relate to rules of origin.
The auto supplier will build a $1.1 billion semiconductor plant as demand for autonomous vehicle components continue to rise.
The Egyptian government will receive 100 passenger and freight locomotives and employee training from GE Transportation in order to boost their rail infrastructure.
Pilot Freight Services names new chief executive officer and president, while the Port of Tacoma hires new director of engineering, and Americold hires executive vice president and chief commercial officer.
The International Maritime Organization has begun mapping out how existing international regulations should be applied to the field of self-driving ships and other autonomous maritime technologies.
President Donald Trump’s announcement in Miami on Friday that he will roll back the Obama administration’s U.S.-Cuba trade policies has left many industry groups in a sour mood.
The Greenwich, Conn.-based third-party logistics provider will focus on companies that will bolster its existing business lines, particularly in contract logistics, rather than adding new services, according to a Wall Street Journal report.
China is becoming a major economic contender and quite successfully championing itself as the new leader of globalism thanks in large part to its One Belt One Road (OBOR) initiative, according to TOC Logistics International President Gary Cardenas.
The International Chamber of Shipping is urging the United Nations’ International Maritime Organization to back a proposal that seeks to change the installation deadline for the Ballast Water Management Convention.
Starting July 1, the Santa Barbara County Air Pollution Control District’s vessel speed reduction initiative to ongoing initiative aimed at cutting air pollution and protecting the area whale population will expand to the San Francisco Bay Area.
The plan will provide 100,000 high-paying jobs across the city, with at least 20,000 going directly towards the industrial sector, according to New York City Mayor Bill de Blasio.
The U.S. Department of Agriculture, as part of its recently announced reorganization, has appointed Jason Hafemeister to acting deputy undersecretary for trade and foreign agricultural affairs.
