The U.S. maritime regulator collected a total of $465,000 in civil penalties from the non-vessel-operating common carriers for allegedly violating the Shipping Act or commission regulations.
Another liner shipping crypto-token emerges
Former Maersk executives launch a new blockchain- and sensor-backed container registry and initial coin offering as crypto creeps further into the container shipping industry.
NAFTA’s impact on U.S. meat industry
The U.S. meat industry voiced concerns about supply chain upheaval with Mexico if renegotiation talks on the North American Free Trade Agreement break down.
Executive Moves: NC Ports, Dayton Freight and University of Denver
NC Ports hires director of carrier and trade development, Dayton Freight Lines names regional vice president of operations, and the University of Denver appoints supply chain studies faculty member.
Commerce downgrades U.S. Q4 2017 GDP growth estimate
United States gross domestic product (GDP) increased at an annual rate of 2.5 percent in the fourth quarter of 2017, according to the “second” estimate from the Department of Commerce, down from 2.6 percent in previous projections.
MOL unveils restructuring plans
The Japanese shipping company will restructure April 1, which happens to be the same day its container shipping joint venture with “K” Line and NYK, referred to as the Ocean Network Express, is scheduled to commence operations.
Kuehne + Nagel posts strong growth in 2017
The global third-party logistics provider managed to increase earnings, revenues and volumes during the year, in addition to closing on various acquisitions.
Hapag-Lloyd’s 2017 growth fueled by UASC deal
The German ocean carrier increased its operating result, revenues and volumes from 2016 figures, largely thanks to its acquisition of United Arab Shipping Co., which closed May 24, 2017.
NAFTA trade growth hits 14th straight month in December
The total value of cross-border trade between the United States and its partners in the North American Free Trade Agreement (NAFTA) rose 7.4 percent year-over-year to $93.5 billion for the month, according to the Bureau of Transportation Statistics (BTS).
Commerce dents Chinese foil with duties
The International Trade Commission must now make final determinations on the Commerce Department’s findings that Chinese producers of aluminum foil are receiving unfair subsidies and dumping the product in the U.S. market.