During the month, Japan and South Korea continued to be top performers for beef exports from the United States, driven by strong demand for chilled beef.
Cargo aboard the 4,600-TEU Hanjin Scarlet is currently being discharged at the Port of Prince Rupert in British Columbia.
Several ocean carriers have decided to launch various routes in order to fill the void from Hanjin’s halted operation.
The world’s two largest container shipping carriers, Maersk Line and MSC, are beefing up their presence on the transpacific trade in the wake of Hanjin Shipping filing for receivership in Korea last week.
The U.S. Commerce Department said it has launched a nationwide technology competition to help the country’s seaports and users to develop efficient port information-sharing technologies.
The Dubai, United Arab Emirates-based port terminal operator won a 30-year concession for the development of a multi-purpose project at the Port of Berbera in the Republic of Somaliland, the company said in a statement.
Cloud-based supply chain solutions developer ShipXpress has been acquired by GE Transportation, resulting in 200 employees from ShipXpress becoming a part of GE Transportation.
Net orders for North American Class 8 trucks totaled 14,000 units in August 2016, a 36 percent improvement from July, but a 35 percent decline from the same 2015 period, according to freight transportation analyst FTR.
The third-party logistics subsidiary of ArcBestSM agreed to purchase Sparks, Nev.-based truckload capacity provider Logistics & Distribution Services for $25 million, according to a statement from the company.
The German auto-maker’s truck and bus division will establish a joint venture with engine manufacturer Navistar International in an effort to collaborate on the development of new technologies in the sector.
The cargo airline commenced a daily non-stop service between Los Angeles and Hong Kong.
Limestone shipments on the Great Lakes slipped 13.5 percent year-over-year in August to 3.4 million tons.
Japanese container carrier Kawasaki Kisen Kaisha could be targeted by Singapore-based hedge fund Effissimo, the firm’s largest shareholder as of early August, according to recent media reports.
Despite the recent increase in rates on major east-west trade lanes, the container shipping industry “remains mired in troubled waters,” according to the ocean freight rate benchmarking and market intelligence provider.
The trade organization has called on terminals that are currently holding containers because of Hanjin’s financial troubles to release those containers immediately.
Members of California’s congressional delegation asked the federal government to get involved in the Hanjin insolvency, and Rep. Loretta Sanchez said Hanjin’s stranded ships may have goods needed to keep U.S. assembly lines running.
The ocean carrier’s revenue declined to $3.5 billion ($3.3 billion excluding the contribution from NOL) from the $4.1 billion in the second quarter of 2015 as the persistent pressure on freight rates drove down average revenue per TEU.
French ocean carrier CMA CGM, Hapag-Lloyd of Germany and Hong Kong’s OOCL issued general rate increases.
The Halifax Port Authority appoints chairman and vice chairman, while Volga-Dnepr names head of energy and heavy machinery.
Members of California’s congressional delegation asked the federal government to get involved in the Hanjin insolvency, and Rep. Loretta Sanchez said Hanjin’s stranded ships may have goods needed to keep U.S. assembly lines running.
