The port will need $181.5 million over the next five to 10 years to bring it into good repair and meet current requirements, according to a draft strategic master plan submitted to the Diamond State Port Corporation, which oversees the port.
ICTSI will continue attempts to attract container service to Portland, Ore.
The container terminal operator made the statement Thursday that it would continue to put forth effort to bring container service to the port in response to the news that Westwood Shipping Lines is suspending its service to Portland’s Terminal 6.
Storm data supplied to El Faro was 10 hours out of date
The ill-fated cargo ship did not have an accurate forecast of the path of Hurricane Joaquin due to delays in the BonVoyage reporting system, according to official testimony from the second round of Marine Board of Investigation hearings into the incident.
APL carbon emissions drop 45.5% since 2009
The ocean carrier attributed the reduction in its carbon dioxide emissions primarily to improvements in operational efficiency, fleet and voyage optimization, technical improvements, as well as more fuel-efficient and environmentally-friendly vessels.
SCFI slips for third straight week
Rates from Shanghai to North Europe and the Mediterranean fell 13 percent and 13.2 percent, respectively, since last week, but several major ocean carriers plan to increase rates on these trades in the coming weeks.
Report: Hanjin bondholders grant debt repayment extension
Struggling South Korean conglomerate Hanjin Shipping may have caught a break this week as bondholders have agreed to extend the maturity of debts by four months, according to a report from Yonhap news agency.
TAC Index for air cargo gets lift off
The new freight index, which has been under development since 2014, was initially modeled after the Shanghai Containerized Freight Index but with an exclusive focus on air cargo.
Shippers raise concerns over ocean liner alliances
Beneficial cargo owners fear that service levels will decline to the lowest common denominator when carriers pool their cargo on one vessel.
ITC: U.S. exports from TPP to increase by $57.2b by 2032
The U.S. International Trade Commission released a report this week that forecasts U.S. exports related to the Trans-Pacific Partnership, if passed by Congress, will increase by $57.2 billion by 2032.
U.S. Customs to combine targeting centers
U.S. Customs and Border Protection will consolidate its national targeting centers for cargo and passengers in a new facility early this fall.