The Wuhan Economic Development Port Co. (WEDPC) logistics center covers about 7 kilometers (4.3 miles) of shoreline, compared to Yangtze River Development Ltd.’s (YRDL) current shoreline of about 1 kilometer (0.6 tenths miles).
U.S., South Korea to begin KORUS amendment negotiations Jan. 5
President Trump in July directed the U.S. Trade Representative (USTR) to initiate talks with South Korea to amend the U.S.-Korea (KORUS) Free Trade Agreement, which has been in effect since March 2012, after previously advocating for withdrawal.
Is 2018 the year shipping technology becomes self-aware?
Our predictions for what technologies the shipping and logistics industry will be focusing on in the coming year.
Senate Dems ‘demand’ railroad accountability for PTC
A group of 15 U.S. senators sent a letter to U.S. Department of Transportation leadership asking the agency to hold the nation’s railroads accountable for expeditiously implementing the proper levels of operations safety on their tracks.
TIACA chair warns against ‘pig cycle’ in 2018 outlook
Noting the cyclical nature of the global economy, TIACA chairman Sebastiaan Scholte warned air cargo the industry against ordering additional freighters during boom times, only to have them delivered during the next economic downturn.
OOCL to commence new Asia-ISC loop in January
The Hong Kong-based ocean carrier is expanding its Southeast India service network with the new Far East Chennai Service 2 (FCS2), which will connect China and Southeast Asia with the Indian ports of Chennai and Kattupalli, OOCL said.
UPS forecasts 1.4m package returns on National Returns Day
The parcel giant expects to deliver 750 million packages between Thanksgiving and New Year’s Eve, a nearly 40 million increase from the same period in 2016.
d’Amico Shipping to sell, lease back product tanker under $28m agreement
Although the purchase price is $28 million, the transaction is ultimately expected to generate about $13.4 million in cash for d’Amico, net of commissions and reimbursement of the vessel’s existing loan.
Yang Ming sets up Thailand subsidiary
Taiwan-based ocean carrier Yang Ming Marine Transport Corp. has established a Thai subsidiary, Yang Ming Line (Thailand) Co. Ltd., which will begin offering services Jan. 1.
Algoma buys four veteran dry bulk vessels
All four ships are former U.S. flag lakers that will be transferred to the Canadian registry for service in the Great Lakes-St. Lawrence trade, according to Canadian marine transport services company Algoma Central Corp.