Scales currently used to comply with federal and state laws are acceptable for complying with the new International Maritime Organization container weight regulations due to go into effect July 1, according to the U.S. Coast Guard.
S.C. pursues second inland port to attract cargo to Charleston
The South Carolina Ports Authority and Class I railroad CSX are collaborating to develop an intermodal terminal in Dillon, to supplement the existing intermodal station in Greer and draw more container cargo to the Port of Charleston.
Container spot rates soar 31.9%
The Shanghai Containerized Freight Index rose from a reading of 457.70 last week to a reading of 603.64 this week, as rates from Shanghai to North Europe and the Mediterranean posted sharp increases.
China approves FedEx acquisition of TNT
The Chinese Ministry of Commerce on Friday unconditionally approved FedEx’s $4.8 billion acquisition play for Netherlands-based global package delivery firm TNT Express.
Banks to decide on Hanjin restructuring next week
Korea Development Bank met Friday with the Export-Import Bank of Korea, Nonghyup, KB Kookmin, KEB Hana, Woori and Pusan Bank, and agreed to make a decision regarding the future of the struggling shipping conglomerate by May 4.
YRC posts mixed Q1 results
Less-than-truckload holding company YRC Worldwide saw operating income during the first quarter rise compared to a year prior, while operating revenues declined.
AIIS: U.S. steel imports in March rise 12.8% from February
The United States imported 2.57 million net tons of steel in March, a 12.8 percent increase from February, but a 28.4 percent decline from March 2015, according to figures from the American Institute for International Steel.
ODFL’s net income drops 3.6% in Q1 2016
Less-than-truckload carrier Old Dominion Freight Line also experienced weak revenue growth of 1.6 percent year-over-year for the first quarter of 2016, reflecting an economy that remained sluggish and the impact of a 23.3 percent drop in fuel surcharges.
NEWS FLASH: European Commission okays CMA CGM purchase of NOL/APL
The European Union competition watchdog said a trustee will monitor both companies to ensure there is no information sharing between the Ocean3 and G6 ocean carrier alliances, of which CMA CGM and Neptune Orient Lines subsidiary APL are currently members.
Senate committee passes pro-port WRDA bill
The Water Resources Development Act reauthorization includes provisions sought by the nation’s port authorities related to how harbor deepening projects are funded, getting more money for maintenance dredging in the pipeline and authorizing new projects.