The United States exported 794,537 net tons of steel in April, a 2.5 percent increase from March, but a year-over-year drop of nearly 6 percent.
The Panama Canal’s third lane opened for business, following Sunday’s transit of the 9,472-TEU COSCO Shipping Panama.
The 9,742-TEU containership COSCO Shipping Panama began its historic passage through the expanded waterway, construction of which began back in 2007, Sunday morning.
The U.S. Department of Transportation is looking into how delays at ports and other loading and unloading facilities may be affecting driver compliance with hours-of-service rules designed to increase safety.
Union Pacific’s failure to maintain its track and equipment resulted in broken and sheared lag bolts, which caused the June 3 derailment of a train near Mosier, Ore., according to a preliminary report from the Federal Railroad Administration.
Meanwhile, the pound slid the most on record to its weakest since 1985, while the yen rallied on demand for haven assets, following Britain’s vote to leave the European Union.
The global shipping industry will see earnings worsen, while freight rates will remain depressed amid ample supply, according to projections from the credit rating agency Moody’s Investors Service.
The Shanghai Containerized Freight Index rose 5.6 percent since last Friday, fueled by the strong increases from Shanghai to Northwest Europe and the Mediterranean.
The total value of cross-border freight between the United States and North American trading partners Canada and Mexico slipped another 3.2 percent year-over-year in April 2016, according to the Bureau of Transportation Statistics.
Major freight railroads in the United States employed 156,602 workers as of the middle of May, down 0.27 percent from the previous month and 11.69 percent year-over-year, according to data from the Surface Transportation Board.
Indonesia, Malaysia and the Philippines earlier this week agreed to several measures, including a designated transit corridor, to protect shipping interests in shared maritime areas that have been targeted by Abu Sayyaf militants.
The International Monetary Fund, which cut its 2016 U.S. growth forecast from 2.4 percent in April to 2.2 percent, said the nation’s economy faces several headwinds, including a strong dollar, sluggish business investment and weak global demand.
Hamburg-based investment firm HCI Capital voted this week to change its name to Ernst Russ.
The e-commerce logistics provider opened its DHL eCommerce Shenzhen Distribution Center and will also expand its existing distribution centers in Shanghai and Hong Kong as part of its plans to grow its presence in China by over 50 percent.
The Antwerp Port Authority has appointed a new CEO, while Virgin Atlantic Cargo picks VP of sales and Matson appoints a director.
The first commercial passage of a neopanamax containership through the new locks and third lane of the canal will occur on Sunday with the 9,472-TEU COSCO Shipping Panama.
The A.P. Moller-Maersk Group, parent company of Danish liner carrier Maersk Line, has named Soren Skou as its new chief executive officer.
Taiwanese ocean carrier Yang Ming Transport Corp. named former Evergreen Line executive Bronson Hsieh as its new chairman.
The Federal Aviation Administration on Wednesday proposed two separate civil penalties against Amazon in the combined amount of $130,000 for alleged violations of federal hazardous materials regulations.
U.S. Customs and Border Protection is making progress moving import regulatory filings off its old computer processing system to the Automated Commercial Environment.
