Orient Overseas International Ltd., parent of Hong Kong-based container carrier OOCL, posted revenues of $1.41 billion for the second quarter of 2017, up 23.8 percent from the corresponding 2016 period.
NAFTA trade totals $98.2b in May
Total value of cross-border trade between the United States and its partners in the North American Free Trade Agreement rose 9.4 percent year-over-year in May to $98.2 billion.
CIO Insight: Who’s on first?
Like a baseball pitcher protecting a no-hitter, a single mistake on the part of a trade compliance professional can undo years of letter-perfect compliance.
SCFI jumps 10.5%
Since last week, rates from Shanghai to the U.S. West Coast have surged 37.6 percent, from $1,226 per FEU to $1,687 per FEU.
HMM denies reports of $9b growth funding request
Media reports earlier this week said that South Korea’s Hyundai Merchant Marine, the world’s 15th largest container line in terms of vessel capacity, is asking for $8.9 billion in funding from state backed Korea Development Bank through 2022.
Port of Seattle launches search for new executive director
The Pacific Northwest seaport is now officially looking to fill the role that became vacant when former CEO Ted Fick suddenly resigned in February after less than two-and-a-half years on the job.
Airlines to fight EC cartel fines
The 11 airlines that were fined a total of $908 million in March for price fixing cartel operations are looking to appeal the European Commission’s decision, citing an unfair defense.
Port of Baltimore passes 1 million ton mark in May
The mid-Atlantic port handled 1,007,704 tons of general cargo at its public marine terminals, as well as 86,403 TEUs, for the month, setting new records for both sectors.
Diana Shipping vessel runs aground in Indonesia
Bulk carrier Diana Shipping has declined to provide many details regarding the incident, including how much damage the vessel sustained and how long it could be out of service.
Manhattan Associates earnings steady in Q2 2017
The software and supply chain solutions company posted a strong second quarter for license revenue, according to CEO Eddie Chapel.