The bi-state port complex saw throughput of both loaded imports and exports decline both on a monthly and year-over-year basis, according to recent data from the port authority.
The anti-globalization and anti-trade rhetoric of the U.S. presidential election has become a primary economic threat to emerging countries, according to Bloomberg’s Mohamed A. El-Erian .
Meanwhile, the state of Georgia dedicated a new road connecting the Port of Savannah to I-95, saying it will speed cargo flow and improve safety.
Premier of Victoria, Australia Daniel Andrews said the state is “very confident” the winning bid for a 50-year lease to operate the Port of Melbourne, which is valued between $4 billion and $6 billion, will exceed the book price.
However, the state experienced a 9 percent year-over-year drop in reported cargo thefts during the quarter to 2,152 incidents.
Hamburg, Germany-based Rickmers-Linie, has taken over the activities of tramp and chartering specialist Nordana Project & Chartering, which has offices in Copenhagen, Bangkok, Singapore and Houston.
China Jushi, a manufactuerer of fiberglass products, is investing $300 million to establish a new plant in central South Carolina, which will move products internationally through the Port of Charleston.
Unicon Logistics names VP of logistical services, while Kalmar, a subsidiary of cargo-handling equipment manufacturer Cargotec, appoints new president.
SMC³ CEO Andrew Slusher told American Shipper Tuesday that less-than-truckload carriers have a difficult time converting shippers from class to density-based pricing.
United States GDP grew slightly more than initially expected in the first quarter of 2016, and durable goods orders ticked up in April, according to the most recent data from the Department of Commerce.
Meanwhile, the struggling South Korean ocean carrier said in a statement Sunday it expects to reach an agreement with ship owners regarding charter rate renegotiations “soon.”
The French ocean carrier reported it will pay 1.3 Singapore dollars (U.S. $0.94) for the Neptune Orient Lines’ shares it does not already own, control or has agreed to acquire.
The ocean carrier alliance, consisting of Maersk Line and MSC, will adjust its Asia-North Europe network, which includes five services.
The Icelandic government, two Icelandic municipal authorities and the EFLA engineering company signed a memorandum of understanding to promote the creation of a new port in the northeast corner of Iceland.
The Paris Memorandum of Understanding on Port State Control, which consists of 27 countries, said it will step up inspections in 2018 to ensure that vessels are burning low-sulfur fuel close to shore.
The Baltic Exchange, which had revenues of just $8.8 million last year, is more of a market-information service these days, generating indexes so members can work out fair cargo transport prices, according to Bloomberg’s David Fickling and Andy Mukherjee.
The South American nation is preparing to place a floating import terminal into service, which will be capable of unloading liquefied natural gas from tankers and turning it back into gas at a rate of 400 million standard cubic feet per day.
Industrial production in South Korea fell more than economists expected as weak exports and corporate restructuring of shipbuilders continue to hurt demand and business sentiment.
European manufacturers including Daimler, Volvo and Renault could be hit with fines surpassing the EU record 1.4 billion euro (U.S. $1.6 billion) penalty imposed in 2012 over television-tube price fixing, according to a report from the Financial Times.
Ocean carriers Maersk Line, CMA CGM, Hapag-Lloyd, MOL and UASC issued general rate increases.
