Although the Shanghai Containerized Freight Index remained fairly stable from last Friday, with the overall reading inching up 2.4 percent, rates spiked on the Shanghai to Mediterranean trade.
Hanjin Shipping hearing continues in New Jersey
A bankruptcy court in Newark, N.J. will hear requests for modifications as Hanjin Shipping’s biggest shareholder, Korean Air Lines, has postponed a decision to provide cash to the carrier.
Shipper, terminal operator ask U.S. bankruptcy court to revise Hanjin order
Electronics manufacturer Samsung said in court filings that “cargo owners are being held hostage,” while Maher Terminals said it “is not required to extend free credit to Hanjin, and should not be forced to.”
German retailers select Virginia for new distribution centers
Barge service between the Port of Virginia and Richmond helped the state nail down investments from German grocery chains ALDI and Lidl.
ITC reviews proposed modifications to U.S.-Morocco FTA
The U.S. International Trade Commission has been asked to investigate the effects of proposed changes to the U.S.-Morocco Free Trade Agreement’s rules of origin as they relate to certain textiles and apparel.
Commerce report shows metro area export stats
A report released by the U.S. Commerce Department shows metropolitan areas exported more than $1.3 trillion in merchandise last year, accounting for 89 percent of all goods exported from the United States.
New Bedford terminal to handle offshore wind farm components
The Massachusetts Governor’s Office signed a letter of intent with three offshore wind farm developers to lease the 26-acre multipurpose New Bedford Marine Commerce Terminal as a staging ground for wind turbine components.
Commentary: Is Hanjin the unlucky gazelle?
The South Korean liner carrier is surely to blame for its own demise, but how much of its demise can be attributed to luck in an industry where most play follow the leader?
POLB CEO announces resignation
Jon Slangerup announced his resignation as chief executive officer of the Port of Long Beach and accepted a position as chairman and CEO of a leading aviation technology company.
Alabama & Tennessee River Railway increases train speed
The short line railroad affiliate of OmniTrax will raise the speed of trains on a 90-mile stretch of track between Birmingham and Gadsden, Ala. thanks to significant investment in track, related signals, communications systems and crossings.