Hapag-Lloyd said it had raised 250 million euros (about $337 million) through the sale of bonds to institutional investors. The bond, which has a maturity of five years, has a coupon of 7.75 percent and was several times oversubscribed. The German shipping company said proceeds will be used for general corporate purposes including about 200 […]
The U.S. International Trade Commission on Friday determined that the domestic shrimping industry is not harmed by imports of frozen warmwater shrimp from China, Ecuador, India, Malaysia, and Vietnam, which the Commerce Department had earlier determined are subsidized. Commissioners Daniel R. Pearson, Dean A. Pinkert, David S. Johanson, and Meredith M. Broadbent voted […]
Rickmers Group and funds affiliated with Apollo Global Management have created a joint venture to invest in containerships. The joint venture will initially focus on used vessels and has the capacity to invest up to $500 million, and investments are expected to be made over a period of several years. The firms said […]
Draft amendments to require mandatory verification of gross weight of containers under the SOLAS convention were agreed to on Friday by the IMO’s Subcommittee on Dangerous Goods, Solid Cargoes and Containers.
Company and port authority officials noted the Florida port is closest to Mexico’s fast-growing vehicle manufacturing areas served by the ports of Veracruz and Altamira and offers the quickest transit times to the U.S. market.
Gov. Pat Quinn of Illinois on Thursday praised construction of a new intermodal container terminal at Archer Daniels Midland Co.’s major agricultural processing and headquarters complex in Decatur as a tool for helping boost the state’s economy, “Within a few short years I think we will see the dynamic growth of the inland port. […]
The U.S. Export-Import Bank this week authorized a pair of direct loans totaling $33.6 million to Abengoa of Seville, Spain, that will facilitate the export of American heat-transfer fluid produced by The Dow Chemical Co. for use in solar projects in Spain and South Africa. Ex-Im Bank’s financing will support about 200 U.S. […]
U.S.-flag Great Lakes carriers carried 10.5 million tons of dry-bulk cargo in August, an increase of more than 1 million tons, or 10.6 percent, compared to a year ago, according to the Lake Carriers’ Association. The August float was also on par with month’s long-term average and slightly ahead of July’s 10.3 million-ton […]
The U.S. Department of Agriculture said the fiscal year 2013 Food for Progress and McGovern-Dole International Food for Education and Child Nutrition allocations will benefit more than 10.5 million people worldwide. Under the programs, USDA purchases U.S. commodities and donates them to government agencies and private-voluntary organizations in designated countries. This year’s Food […]
The United States announced the country-specific and “first-come, first-served” in-quota allocations under its tariff-rate quotas (TRQs) on imported raw cane sugar, refined and specialty sugar and sugar-containing products for fiscal year 2014 (Oct. 1, 2013 to Sept. 30, 2014). TRQs allow countries to export specified quantities of a product to the United States at […]
The Guysborough district has finalized the sale of waterfront lands in Melford, Nova Scotia, where Melford International Terminal Inc. (MITI) and its partner Maher Terminals are planning to build a box terminal.
Third party logistics services provider OIA Global has acquired majority control of Bellville International Ltd., a freight forwarder based in London. Bellville International is the holding company for Bellville Rodair International in Europe, the United States, China and Brazil. Financial terms of the deal were not disclosed. “This acquisition is very strategic for […]
Mediterranean Shipping Co. has announced a rate hike on export cargo from the United States, Canada, and Mexico to North Europe, including the Baltic and Scandinavia, of $100 per 20-foot container and $150 per 40-foot container, starting Oct. 14.
Chilean liner carrier CSAV said because of China’s “Golden Week” holiday in October seven sailings have been canceled.
The development of the port located on the Aguadulce peninsula at the port of Buenaventura will be done in three phases. The first phase will yield an annual capacity of 450,000 TEUs with two vessel berth positions.
Salvage crews righted the wrecked cruise ship Costa Concordia on Tuesday, more than 20 months after it capsized off the coast of Italy’s Giglio Island. Crowley Maritime’s Titan Salvage is overseeing the project. A Website devoted to the project, including a time-lapse video, can be found here.
The so-called “Maritime Goods Movement Act for the 21st Century” was developed to eliminate incentives for shippers to bypass U.S. ports and move their goods through Canada and Mexico ports instead.
Shippers voiced concerns about bigger containerships and larger carrier alliances last week during a panel discussion at the South Carolina International Trade Conference. Pointing to the proposed P3 alliance of Maersk, Mediterranean Shipping Co., and CMA CGM, the expansion of G6 alliance to include not only the Asia-Europe trade, but also services between […]
The International Air Cargo Association said the new regulations, which take effect on July 1, 2014, fall outside industry goals of “a common, unified approach to global security standards.”
Matson said it, not its customers or Hawaii taxpayers, will cover the costs associated with the Honolulu Harbor molasses spill response. On Sept. 10, Matson said a leak in a molasses pipeline near Pier 52 that is used to load the sweetener into special tanks in container vessels leaked and that as much […]
