The Baltic Exchange confirmed it is in “confidential discussions with selected third parties regarding its future strategy and ownership,” and Singapore Exchange has reportedly submitted a non-binding bid for the creator of a leading industry indicator.
CMA CGM converts PEX3 to around-the-world service
The French ocean carrier will also drop a call in Qingdao and add calls in Charleston, Tangiers, and Singapore to its Pacific Express 3 loop between Asia and the United States Gulf and East Coast.
NEWS FLASH: DOT to solicit applications for FAST freight grants
The U.S. Department of Transportation is working to implement the Fixing America’s Surface Transportation Act and is ready to launch a new competitive grant program for freight projects as outlined in the legislation.
International Shipholding Corp. reports $180m loss in 2015
Most of the $179.7 million loss was due to impairment losses as the company sold off dry bulk ships operating in international market to reduce debt, according to the ocean carrier’s most recent financial statements.
USCG: Computer issues did not delay El Faro response
United States Coast Guard officials initially did not think the lost TOTE Maritime general cargo vessel was in danger of sinking, according to testimony from the Marine Board of Investigation hearing into the incident.
Intermodal rates drop for 13th straight month
Rates fell another 2.2 percent in January compared to last year, the 13th consecutive month prices have decreased, according to the latest Cass Intermodal Price Index.
Truckload rate growth continues to slow in January
Truckload pricing grew just 0.4 percent for the month compared to January 2015, the fifth consecutive month of waning increases, according the latest Cass Truckload Linehaul Index.
Item of the Day: Soukie Modern Clutches
Not everyone can get to the souks/bazaars of Morocco for serious trendspotting (or shopping), but luckily, Soukie Modern has done the work for us. The clutches are just some of the by-products of founders Kenya Knight and Taib Lofti, who wanted to materialize the aesthetics of Palm Springs and Marrakech, two sunny and chic places […]
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Kohl’s Profit Dips 20%; Plans to Test Small Store Formats
Kohl’s Corp. announced a 20% dip in Q4 profit on continued mediocre sales growth. It also announced plans to close 18 underperforming locations and test a new smaller format store. Kohl’s revenue guidance for 2016 was below Wall Street expectations, according to MarketWatch. Kohl’s expects 2016 sales between -0.5% and +0.5%, compared with analyst estimates […]
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U.S. antidumping sought for heavy-walled steel pipe imports
The Commerce Department will seek preliminary antidumping duties for imports of heavy-walled, rectangular-welded carbon steel pipes and tubes from South Korea, Mexico and Turkey.