Moody’s put MOL’s Baa3 rating — the lowest of its investment grade ratings — under review on Monday after MOL reported earnings of 8.5 billion yen ($84 million) for the period ending June 30, compared to 12.9 billion yen the previous year.
CSAV said the Department of Justice and the Federal Trade Commission have approved plans to merge CSAV’s container business with Hapag-Lloyd. “This is part of the consultation process to regulatory authorities that the two companies are carrying out,” the Chilean shipping company said. CSAV and Hapag-Lloyd signed in April a binding agreement, […]
“Exports to most other trading partners are down for the year, though two notable — and, perhaps, surprising — exceptions are Venezuela and Russia,” said the American Institute for International Steel.
China’s export restraints, the U.S. government had warned, “artificially increase world prices for these raw material inputs while artificially lowering prices for Chinese producers.”
A bumper crop of Canadian grain has led to a 70-percent increase in maritime shipments via the St. Lawrence Seaway over last year’s season, according to the Chamber of Marine Commerce. The St. Lawrence Seaway Management Corp. reported that while combined Canada-U.S. grain shipments are up 55 percent, Canadian grain shipments alone from […]
The U.S. Commerce Department on Wednesday reported that the country’s exports of goods and services reached a record $195.9 billion, eclipsing the previous month’s amount by more than $300 million. U.S. exports of goods and services over the last 12 months totaled $2.3 trillion, which is 46-percent above the level of exports in […]
APL attributed a 3-percent increase in costs of sales per FEU “largely to a nation-wide trucking shortage in the U.S., port congestion issues in Southern California, as well as empty equipment repositioning costs.”
Shipments of limestone on the Great Lakes totaled 4,090,079 tons in July, the highest total for the trade since July 2012, according to the Lake Carriers’ Association, which represents 17 American companies that operate 57 U.S.-flag vessels on the Great Lakes. Loadings for July totaled 4,083,753 tons. Loadings out of U.S. […]
“We are making good on our promise to help residents in states affected by natural disasters and other emergencies,” said Transportation Secretary Anthony Foxx in a statement.
The U.S. and Kenyan governments on Wednesday signed a Customs Mutual Assistance Agreement to collaborate on security and trade facilitation. “This agreement will expand our efforts to combat illicit cross-border activities and will enable us to continue our work to prevent, detect and investigate customs offenses,” said U.S. Customs and Border Protection’s Acting […]
Sunland Logistics Solutions, a South Carolina-based third party logistics services provider, has entered a partnership with Artisan Logistics as their in-house carrier to support Sunland’s customers with transportation services outside its network. Sunland provides transportation for shuttle and dedicated moves within a 200-mile range of its warehouses throughout the state. Artisan […]
A record amount of container cargo moved through the Port of the Port of New York and New Jersey in the first six months of 2014. The agency attributed the increase to an improving economy and diversion of cargo that would normally move through West Coast ports. Cargo moved from the West Coast because […]
A USDA official said the situation at the Port of Vancouver doesn’t “ensure safe access to the UGC facility for the GIPSA, and therefore [USDA] is conditionally withholding official grain weighing and inspection services.”
Egypt plans to improve the Suez Canal by building a 45-mile section parallel to the existing canal that will act as a bypass so ships can travel in two directions, boosting the waterway’s capacity. The plan was unveiled today by President Abdel Fattah al-Sisi at an event to launch the Suez Canal Axis […]
The demise of the network of electric trolley cars that once crisscrossed Los Angeles is an important and controversial chapter in the history of public transportation.
The program was developed and implemented by the Santa Barbara County Air Pollution Control District, Channel Islands National Marine Sanctuary and the Environmental Defense Center.
The bank also announced that it will pledge $3 billion in financing to support U.S exports to Sub-Saharan Africa over the next two fiscal years.
The White House announced Tuesday that the United States has entered an agreement to boost trade and investment with the Economic Community of West African States. “Africa is an increasingly critical trading partner for the United States, and the signing of this Trade and Investment Framework agreement with the 15 countries of […]
Less-than-truckload carrier Dayton Freight has relocated its Columbia, Mo., service center. The facility includes 32 truck doors and was “constructed in response to increased customer demand,” the company said. Dayton Freight has operated in Missouri since 1986 and has four facilities in the state, including Columbia, Springfield, Sikeston and St. Louis.
Ships transiting the Panama Canal have relatively fewer accidents than those using the Suez Canal or the Kiel Canal, and the number of ship casualties has dropped over the past decade, according to the German insurance company Allianz in a new report, Panama Canal 100: Shipping safety and future risks. But the insurer […]
