The House Energy and Commerce Committee on Thursday approved legislation to lift the nearly 40-year-old ban on crude oil exports, a move it said will boost the U.S. economy.
Lack of U.S. Ex-Im Bank moves 500 GE jobs offshore
General Electric is bidding on $11 billion in power projects that received a line of credit from the French export credit agency and may result in more than 500 U.S. jobs going overseas.
U.S. finds ongoing dumping of Mexican sugar imports
Commerce found dumping and countervailable subsidies with Mexican sugar imports, but its hands remain tied by existing sugar trade agreements between U.S. and Mexico.
Attempt to repeal Jones Act could be ‘poison pill’ for Puerto Rico
American Maritime Partnership chairman Tom Allegretti says there is strong support for Jones Act in Congress and attempts to exempt Puerto Rico could jeopardize Congressional support for aid.
Transplace buys M33 Integrated
Acquiring Greensboro, N.C.-based M33, which specializes in logistics for the packaging, chemical and advanced materials sectors, will expand Transplace’s reach into other sectors and geographical regions.
Executive Moves: UTi, Long Beach City Council and LogFire
UTi appoints two VPs, while the Long Beach City Council confirms harbor commission appointments and LogFire adds Oracle expert to ranks.
NYK to establish logistics company for finished cars in Columbia
The Japanese liner company signed a joint-venture agreement this week with Intermodal S.A. to establish NYK Auto Logistics Colombia S.A.S. at the Port of Cartagena, Colombia.
DB Schenker expands European parcel service
DB Schenker Logistics has entered a partnership with GLS Group to expand its Europe-wide parcel service, starting Jan. 1 in Germany.
FedEx posts strong first quarter results
The Memphis, Tenn.-based integrator posted net income of $692 million on $12.3 billion in revenues of for the first quarter of fiscal year 2016, year-over-year increases of 6 percent and 5 percent, respectively.
Port of Green Bay’s YTD tonnage sinks
The western-most port of Lake Michigan has handled 10 percent less cargo through the first eight months of 2015 in comparison to last year, despite an increase in August volumes.