A bankruptcy court in Newark, N.J. will hear requests for modifications as Hanjin Shipping’s biggest shareholder, Korean Air Lines, has postponed a decision to provide cash to the carrier.
Electronics manufacturer Samsung said in court filings that “cargo owners are being held hostage,” while Maher Terminals said it “is not required to extend free credit to Hanjin, and should not be forced to.”
Jon Slangerup announced his resignation as chief executive officer of the Port of Long Beach and accepted a position as chairman and CEO of a leading aviation technology company.
Although the Shanghai Containerized Freight Index remained fairly stable from last Friday, with the overall reading inching up 2.4 percent, rates spiked on the Shanghai to Mediterranean trade.
A chart constructed with data from BlueWater Reporting shows Hanjin Shipping’s impact on several prominent trades out of Asia, as several carriers are swooping in to launch new services, filling the void of the insolvent Hanjin.
A report released by the U.S. Commerce Department shows metropolitan areas exported more than $1.3 trillion in merchandise last year, accounting for 89 percent of all goods exported from the United States.
The trade community now has until Oct. 29 to file liquidations, drawbacks, reconciliations, duty deferrals, collections, statements and automated surety interface forms in the new Automated Commercial Environment.
Barge service between the Port of Virginia and Richmond helped the state nail down investments from German grocery chains ALDI and Lidl.
Canadian Pacific Railway announced changes to its board of directors, including the appointment of Jill Denham and William R. Fatt, and the resignation of activist investor Bill Ackman.
Charlotte, N.C.-based Ridgemont Equity Partners closed on an equity investment in freight broker Nolan Transportation Group to support the firm’s “continued rapid growth,” the companies said in a joint statement.
The Berkshire Hathaway-owned Class I railway said its new intermodal service connecting Portland, Ore. and Seattle, Wash. with Dallas Fort Worth will provide comparable transit times to single-driver, over-the-road options.
The short line railroad affiliate of OmniTrax will raise the speed of trains on a 90-mile stretch of track between Birmingham and Gadsden, Ala. thanks to significant investment in track, related signals, communications systems and crossings.
The U.S. International Trade Commission has been asked to investigate the effects of proposed changes to the U.S.-Morocco Free Trade Agreement’s rules of origin as they relate to certain textiles and apparel.
The Massachusetts Governor’s Office signed a letter of intent with three offshore wind farm developers to lease the 26-acre multipurpose New Bedford Marine Commerce Terminal as a staging ground for wind turbine components.
The South Korean liner carrier is surely to blame for its own demise, but how much of its demise can be attributed to luck in an industry where most play follow the leader?
Electronics manufacturer Samsung said in court filings that “cargo owners are being held hostage,” while Maher Terminals said it “is not required to extend free credit to Hanjin, and should not be forced to.”
The newly established Drone Advisory Committee, which includes stakeholders from the aviation and unmanned aircraft industry, will meet at least three times a year to discuss the safe integration of drones into U.S. airspace, the FAA said in a statement.
The U.S. Department of Transportation said the 18 infrastructure project grants awarded in fiscal year 2016 – collectively valued at nearly $800 million – will support $3.6 billion in infrastructure across 15 states and the District of Columbia.
CoLoadX, an internet platform to enable forwarders to price effectively and allow non-vessel-operating common carriers to expand their sales scope, went live this week.
The International Maritime Organization’s Ballast Water Management Convention now has enough vessel tonnage to bring the treaty into force, thanks to Finland signing onto the treaty.
