The Northern California port’s $324 million refinancing will save $44 million in debt service payments over 13 years, thanks to the current favorable interest rate environment, the port said Monday.
The title to the heavy-lift cargo vessels will pass to the ZEABORN Group by the end of September, but they are already available to the shipping company without any restrictions.
During the month, Mexico was the leading market for U.S. pork and lamb exports in terms of volumes and value, while Japan was the top market for U.S. beef exports, according to data compiled by the U.S. Meat Export Federation for the USDA.
During the month, the United States exported $194.4 billion in goods and services, up 1.2 percent from May, as the weakened U.S. dollar makes U.S. goods less expensive, and therefore more desirable, overseas.
U.S. Gulf Coast ports are expected to benefit more than East Coast ports in the near term, and to the detriment of West Coast ports, according to a recent report from JLL.
The Justice Department on Friday filed permanent injunctions against three New York companies and their owners to stop importing and selling potentially dangerous toys until certain measures are taken by these firms to clean up the problem.
The master of a multi-purpose cargo vessel was arrested on Friday in New Zealand for exceeding the alcohol limit for a seafarer, according to Maritime New Zealand.
Vacancy in industrial warehousing across the nation recently hit a 17-year low of just 5.3 percent, while rental prices are up by more than one-third from 2012 levels, leaving customers asking what the right mix of costs are for their supply chains.
In addition, the country’s largest carrier, Hyundai Merchant Marine, is reportedly looking to allocate more vessels to U.S. routes thanks to rising demand.
The Council of Supply Chain Management Professionals (CSCMP) is aiming to ensure a steady influx of young, up-and-coming supply chain professionals to its membership.
The non-asset-based supply chain management and third-party logistics provider’s airfreight volumes soared 15.6 percent year-over-year during the quarter, fueled by the transpacific and intra-Asia trades.
The U.S. Maritime Administration beat its target date of Sept. 30 to remove 57 obsolete ships from its reserve fleet holding area in Suisan Bay, Calif.
Peter Zuccarelli of Plano, Texas, conspired to illegally export U.S.-made radiation hardened integrated circuits to China and Russia for their respective space programs, according to a statement from the U.S. Department of Justice.
Deutsche Bahn’s freight rail operation will purchase 60 new locomotives from Siemens at a cost of about $250 million euros, and use the equipment in its European cross-border services.
Intermarine unveils various leadership changes, BDP International and Wen-Parker Logistics each name chief financial officer, and the Latin American and Caribbean Air Transport Association’s executive committee appoints new executive director.
Bradley Jacobs, chairman and chief executive officer of XPO Logistics, said bigger merger and acquisition deals likely will not occur soon, but the company is currently in discussions regarding smaller purchases that could take place at any time.
The global shipping industry seems to be saying all the right things when it comes to reducing its impact on the environment, but when it comes to implementing consistent standards to meet stated goals, uncertainty abounds.
The Danish global transport and logistics provider posted profits of 744 million Danish krone on net revenues of DKK 18.9 billion for the quarter, year-over-year increases of 122.8 percent and 7.5 percent, respectively.
Port Authority of New York and New Jersey names new executive director and board of commissioners chairman, Foss Maritime hires chief commercial officer, and ATA names executive director of the Intermodal Motor Carrier Conference.
U.S. Rep. Martha McSally, R-Ariz., has filed legislation that reauthorizes the Customs Trade Partnership Against Terrorism program for the first time in 11 years and aims to increase security and cut down wait times at ports of entry.
