The 14,414-TEU CMA CGM Theodore Roosevelt was able to reach the terminal thanks to the port authority’s $1.6 billion Bayonne Bridge Navigational Clearance Project, which raised the clearance under the crossing from 151 feet to 215 feet.
Chinese regulators green light COSCO-OOIL deal
China COSCO SHIPPING’s acquisition of the parent of Hong Kong-based liner carrier Orient Overseas Container Line (OOCL) earlier this week received approval from China’s State-owned Assets Supervision and Administration Commission, OOIL said in a statement.
FTR: Class 8 orders continues to rise in July
Net orders for North American Class 8 trucks totaled 20,700 units in April 2017, up 14 percent from the previous month and 50 percent from the previous year, according to freight transportation analyst FTR.
CEO of metals company jailed for illicit exports
Erdal Kuyumcu, the chief executive officer of Woodside, N.Y.-based Global Metallurgy, was sentenced to nearly five years in prison following his June 14, 2016 guilty plea for conspiracy to illegally export a controlled metallic powder to Iran.
Washington state to pilot ‘pay-per-mile’ highway funding program
Due to an increasing gap between revenues and costs, the state of Washington in early 2018 will test a program that will have 2,000 volunteers “paying” taxes for road improvement by the mile, instead of via a gas tax.
Commerce finds dumping of steel rod imports
The Commerce Department has reached affirmative preliminary determinations in its dumping investigations of steel wire rod imports from Belarus, Russia and the United Arab Emirates.
Maersk partners with Microsoft, EY on maritime insurance blockchain
The group has created a blockchain platform built on Microsoft Azure technology for shippers, brokers, customers and third parties in the maritime insurance industry that is slated for rollout in 2018.
Port of Long Beach posts third-best monthly container volumes ever
Terminals at the Port of Long Beach handled 692,375 TEUs of containerized cargo in August 2017, an 8 percent improvement from 641,029 TEUs in the same month a year ago, according to recent data from the Southern California port.
South Carolina International Trade conference postponed
Due to the potential impact of Hurricane Irma, the trade conference held annually in Charleston will be postponed until Oct. 30-Nov. 1.