The U.S. economy increased at an annual rate of 4 percent in the second quarter of 2014, compared to a first quarter decrease of 2.1 percent. The Commerce Department said the increase in real gross domestic product in the second quarter primarily reflected positive contributions from personal consumption expenditures, private inventory investment, exports, nonresidential fixed investment, […]
Liner carrier Hamburg Süd has opened an office in Nanjing, increasing its operational footprint in China to 20 locations. All tasks that were previously carried out by the Ben Line agency will in the future be taken over by the new Hamburg Süd office, including sales, customer order management and container and intermodal […]
The company said it has sufficient cash on its balance sheet to fund the total acquisition cost; however, it may elect to finance part of the purchase price with debt financing at terms similar to its existing debt facilities.
The Port of San Diego board of commissioners has placed Wayne Darbeau, its chief executive officer, on administrative leave and said he will be terminated at the end of the year. It named John A. Bolduc, its harbor police chief and vice president of public safety as acting chief executive officer. Citing California […]
A senior U.S. Commerce Department official told a group of exporters attending a conference in Washington Tuesday that while recent reforms to the country’s export control regulations should make it easier for them to market their goods to companies in countries friendly to the United States, it doesn’t mean they should soften on their […]
Florida’s Port Manatee has been awarded a $1,837,500 security grant, allowing it to move ahead with three projects. The award, the second-highest for any Florida port in the latest round of grants offered by the Federal Emergency Management Agency, allows full funding for each of the projects named in the port’s request, which […]
Carrier Transicold has released its new XtendFRESH atmosphere control system, which preserves quality and extends shipping distances for perishables shipped in refrigerated containers. The system uses a self-regenerating, activated-carbon scrubber assembly to control oxygen and carbon dioxide and remove ethylene, a hormone given off by ripening produce that will accelerate ripening if left […]
For years, Jeanne Shaheen, D-N.H., and Pat Toomey, R-Pa., along with Sen. Mark Kirk, R-Ill., have led a bipartisan effort to reform the U.S. sugar program, which has cost consumers an estimated $14 billion since 2008.
Kenny E. Toy, 54, a former afloat programs manager at the U.S. Navy’s Military Sealift Command, was sentenced Tuesday to serve 96 months in jail for taking bribes. On Feb. 12, Toy pleaded guilty to one count of bribery. For five years starting in November 2004, Toy had been involved in a […]
Horizon Lines reported a loss of $1.6 million in its second quarter, which ended June 22, compared with a loss of about $900,000 in the second quarter of 2013. Earnings before interest, tax, however, was higher — $29.5 million in the second quarter, compared with $28.8 million in the same 2013 period. The […]
The U.S. Commerce Department’s Bureau of Industry and Security is further restricting trade with Russia in response to the country’s continued support of separatists in eastern Ukraine. In specific, the agency will institute a policy denying export, re-export or foreign transfer of certain items for use in Russia’s energy sector that may be […]
Seaspan has an ambitious orderbook, saying its “managed fleet consists of 109 containerships, representing a total capacity of over 840,000 TEU, including 30 newbuilding containerships” due by the end of 2016.
Exel has formed a new freight brokerage company, Exel Freight Connect, to help connect its customers with carriers across the United States, Canada and Mexico. The new company is located in the warehouse district of Columbus, Ohio. Exel Freight Connect is expected to generate 117 new jobs in the Columbus area and […]
Steel imports from Canada were up just more than 1 percent to 534,000 net tons, while imports from South Korea dropped almost 22 percent to 457,000 net tons, after a 45-percent increase in May.
Several groups in the San Francisco Bay area say they are going to attempt to prevent Zim ships from docking and discharging cargo at the Port of Oakland on Saturday in protest of Israeli bombing of the Gaza. Organizers of the “Block the Boat” event say they plan to gather and march to […]
The U.S. Commerce Department has determined that imports of certain electric-generating solar panels imported from China and Taiwan are being dumped on the U.S. market. Dumping occurs when a foreign company sells a product in the United States at less than its fair value. Commerce preliminarily determined that certain solar panels from […]
Five years after its implementation, the Earned Import Allowance Program is not providing enough incentives to help reverse the decline in Dominican apparel exports to the U.S. market, according to a new report by the U.S. International Trade Commission. EIAP allows apparel manufacturers in the Dominican Republic who use U.S. fabric to produce […]
The two sides are trying to work out a new contract to replace the six year pact that expired on July 1. The ILWU-PMA agreement covers nearly 20,000 longshore workers at 29 West Coast ports.
Port Commission Chairman Janiece Longoria said an Army Corps of Engineers report found the minimum net benefits of the improved Bayport and Barbours Cut channels to the U.S. economy will be $35 million a year.
The Port of Savannah handled a record 3.14 million TEU in the fiscal year ending June 30, up by 6.3 percent, or 186,567 TEU, compared to the previous year. Exports accounted for just over half of containerized tonnage. The Georgia Ports Authority said all of its facilities, including the Port of Brunswick, moved […]
