SAL Heavy Lift, a Hamburg, Germany-based ocean carrier specializing in the transport of project and oversized cargoes, will place its six ships under the German flag, the company said in a statement.
China’s Best Inc. to tap into last-mile logistics
The Alibaba-backed logistics provider plans to use its $450 million initial public offering funds to expand its convenience stores and warehouses to enable last-mile services, according to a report from Reuters news service.
U.S. Class I railway employment slips in August
Class I freight railroads in the United States employed 147,319 workers in August, down 0.15 percent from July and a 3.56 percent drop from August 2016, according to the Surface Transportation Board.
Malaysian shipbuilder sues client over four unpaid vessels
Shin Yang Shipping Corp. Berhad’s wholly-owned subsidiary filed a claim against PT Gemilang Raya Maritime for failing to pay RM 6 million (U.S. $1.43 million) for four vessels it purchased from the company.
U.S. solar industry faces cloudy trade forecast
Following a positive determination of harm its section 201 investigation into solar panel imports, the International Trade Commission (ITC) will now move to the “remedy” phase, but trade groups worry about potential damage to the industry at large.
Ports closed, cargo delayed as Hurricane Maria causes widespread destruction in Puerto Rico
Ports in the eastern Caribbean island are under condition ZULU, with San Juan closed indefinitely due to lack of power and telecommunications, as Hurricane Maria makes her way northwest.
Carriers revamp South America network ahead of Hamburg Sud, Mercosul acquisitions
MSC, Maersk Line, Hapag-Lloyd and CMA CGM are reorganizing their South America services in the months leading up to Maersk closing its acquisition of north-south specialist Hamburg Sud and finalizing the sale of its Brazilian cabotage subsidiary Mercosul.
WTO raises 2017 growth forecast as global trade accelerates
Previously set at 2.4 percent, the world trade forecast has been increased to 3.6 percent due to strong North American imports and Asian export recovery, according to the World Trade Organization.
OECD data adds fuel to NAFTA origin rules debate
Newly released data from the Organization for Economic Cooperation and Development has allowed U.S. Commerce Department analysts to challenge the long-held perception that U.S. content in North American Free Trade Agreement (NAFTA) imports remain strong.
SCFI declines 5%
The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI) fell 5 percent since last Friday as spot container rates declined from Shanghai to Europe, the Mediterranean and the United States.