In proposed legislation, the senator seeks a “merit-based” system for funding port infrastructure. “This bill changes the way we deepen ports and it sets aside money to make sure there will be money there available to us,” he said.
The logistics company Agility said it had net profit of 34.3 million Kuwait dinar (KD) in 2012 ($119.9 million), 27 percent more than in 2011. Revenue in 2012 was 1.4 billion KD, 7 percent more than in 2011. In the fourth quarter, the company reported a net profit of 9.6 million KD, […]
The United States on Friday announced it’s considering a Trade and Investment Framework Agreement (TIFA) with the Economic Community of West African States (ECOWAS). “A Trade and Investment Framework Agreement with the Economic Community of West African States can significantly contribute to economic growth and increased international competitiveness on both sides of the […]
Walter Kemmsies, chief economist of Moffatt & Nichol, said Thursday he is forecasting import cargo volumes in the peak season this year could be 5 percent higher than in 2012, but cautioned the economic outlook is cloudy because of government policy uncertainty. One of several speakers at the Port of Long Beach’s annual Pulse […]
News reports said Guillermo Luksic Craig died of lung cancer. Through its 83 percent stake in Quiñenco, one of Chile’s largest conglomerates, the Luksic family acquired a stake in CSAV in 2011.
The Baltic Air Charter Association (BACA) has elected Tony Coe, owner of Aviation Complete Ltd., as its new chairman. The association, based at the Baltic Exchange in London, represents the interests of air charter brokers, aircraft operators, airports, aviation lawyers and others in the global air charter industry. Coe has been in […]
The consolidated cases — Asamarbunker v. U.S. 5th Cir. Nos. 12-40246 & 12-40248. Feb.1 — center on the arrest of two ships and their subsequent sale to satisfy outstanding debts. The United States successfully intervened in the in rem proceedings on the basis of preferred mortgage liens on the two vessels. Two bunker […]
APMT said the Maasvlakte II facility, scheduled to open in November 2014 with an initial annual throughput capacity of 2.7 million TEUs, will be the most technologically advanced container terminal in the world.
The requirement under the Jones Act that ships moving cargo between two U.S. points be built and registered in the United States and crewed by Americans has attracted attention from everyone from television stock-picker Jim Cramer to groups such as American’s for Tax Reform and the Heritage Foundation. American Maritime Partnership (AMP), a […]
Since the forced budget cuts took effect March 1, federal agencies in charge of overseeing trade into and out of the United States have had to make due with less. To deal with the budget cuts, U.S. Customs, the country’s primary border agency, has essentially implemented plans for how it would operate in […]
Miasolé, a solar energy company in Santa Clara, Calif., was able to export its thin-film solar panels to a solar photovoltaic project in Rajasthan, India, with help of a $9 million direct loan from the U.S. Export-Import Bank. The Indian borrower, Sai Maithili Power Company Private Ltd., a single-purpose solar company formed by […]
Hapag-Lloyd said it will begin operating its weekly Finland Express Service (FEX) to Baltic ports next week. Two ships with about 1,000 TEUs of capacity will call Bremerhaven, Hamburg, St. Petersburg, Kotka, Rauma and Gaevle (Sweden) before returning to Bremerhaven. Hapag-Lloyd is currently looking into calling at the Russian port of Ust-Luga as well. The […]
Evergreen said it will launch a new service linking South China, the Philippines and East Malaysia in mid-April. In addition to providing regional transportation links for shippers in three countries, the new loop will connect to Evergreen’s global network via Hong Kong. Two ships of 1,700 TEUs will be deployed on the weekly […]
In a press release issued by the dockworkers on March 26, ILA President Harold Daggett said “Our organizing mission will go global. We will really make our union an international one like we’ve never seen before.”
The Coalition of New England Companies for Trade (CONECT) hosts its 17th Annual Northeast Trade & Transportation Conference in Newport, R.I. on April 2-4. The two-and-a-half day conference features dozens of trade and transportation executives speaking about industry issues. Speakers will include importers and exporters such as Hasbro, The Gem Group, Ocean […]
Big ships from Europe-Asia trade expected to enter the transpacific. By Chris Dupin The next couple of years could see big changes in transpacific liner services, as many large containerships now trading between Asia and Europe are expected to “cascade” or be repositioned into transpacific services. That change will present major across-the-board challenges: To […]
Even with slow steaming and economies of scale of bigger containerships, fuel is still a significant cost for carriers, amounting to about 60-70 percent of a voyage across the Pacific, recently noted Brian Conrad, Transpacific Stabilization Agreement executive director. Bunker fuels jumped from $450 per ton in September 2010 to $745 per ton […]
The French liner carrier said it will manage and operate the terminal, giving customers the opportunity to clear their cargo through customs near Baghdad instead of the Umm Qasr seaport.
Rickmers-Linie, a regular carrier at the Port of Philadelphia since 2008, will expand its service to the port when it begins its westbound round-the-world service that will connect markets in Asia, South America, and North America. The new monthly service will complement Rickmers’ fortnightly eastbound round-the-world “Pearl String” service at the Port of Philadelphia. […]
COSCO Pacific said it had gross profit of $315 million in 2012, 22 percent more than in 2011. Revenue was $735.5 million, 23 percent more than in 2011. The company said revenue from the terminal business rose 24 percent to $402 million, mainly due to the business growth of Piraeus Container Terminal […]
