The Shanghai Containerized Freight Index ticked up 2.3 percent from last week, with rates from Shanghai to Northwest Europe, the Mediterranean and the United States remaining fairly stagnant.
WTO chief says trade is under attack
Roberto Azevêdo, the head of the World Trade Organization, warned that the benefits of international trade are increasingly getting lost among the incessant anti-trade rhetoric that’s being espoused worldwide.
DOT releases $1m for storm damaged roads in S.C.
The Federal Highway Administration released $1 million in emergency relief funds to help start road and bridge repairs across South Carolina in the recent aftermath of Hurricane Matthew.
Former SAP VP indicted for money laundering
Christopher G. Salis, a former global vice president of SAP, along with two associates, were charged in a federal indictment Thursday for their roles in a scheme involving insider trading and money laundering.
Maersk Line resumes service to Iran
The Danish liner carrier has resumed service to Iran after a five-year absence and just a year and a half after the Maersk Tigris was fired upon by the Iran Revolutionary Guard Corps Navy.
Executive Moves: MatchBack Systems and Graybar
MatchBack Systems appoints commercial account manager for Europe, while Graybar names district VP in Seattle.
Port of Antwerp posts increase in tonnage
Container volumes through the Port of Antwerp rose 4 percent year-over-year during the first nine months of 2016 to 7.6 million TEUs.
Domestic maritime industry honors Sen. Ayotte
The American Maritime Partnership honored Sen. Kelly Ayotte, R-N.H., for championing the cause of the domestic maritime industry in Congress.
NEWS FLASH: Judge denies Ashley Furniture’s request to freeze payments it owes Hanjin
Hanjin opposed Ashley Furniture’s motion for a freeze on the amounts it owes the carrier, along with a reduction in the amounts owed, saying in a court filing that if the motion was granted, its ability to reorganize would have been severely jeopardized.
DB Cargo UK to cut nearly 900 jobs
The Deutsche Bahn AG subsidiary is planning a workforce reduction of 893 positions and other operational downsizing due to what it called “unprecedented challenges” in the rail transportation market caused by declining commodities volumes.