The U.S. Gulf port also expects to benefit from continuing population migration to Texas and the expansion of Panama Canal, which is scheduled to be completed in April 2016.
Mixed bag for U.S. economy causes drag on freight sector
United States gross domestic product (GDP) grew 2.1 percent in the third quarter, according to the Commerce department’s second estimate, but truck tonnage remains relatively flat amid weak industrial and manufacturing output.
Tiffany Q3 Sales, Profit Miss, Outlook Trimmed
New York—Tiffany & Co. reported today a drop in its third quarter sales as a strong dollar cut into tourist spending. For the three months ended Oct. 31, the fine jewelry retailer posted net income of $91 million, or 70 cents ashare, missing the average analyst estimate of 75 cents a share,.In the third quarter […]
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India Starts New Initiative to Become World Leader in Leather Manufacturing
New York—The Government of India recently launched a new initiative—“Make in India,” where all sectors of manufacturing from agriculture to automobiles have been de-licensed and deregulated. One industry that stands to gain from the deregulations is Indian leathergoods which already amounts to some $11 billion a year. India’s Council of Leather Exports is instituting skill […]
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Charming Charlie Kicks Off Partnership with K.I.D.S./Fashion Delivers with $3.7M Donation
Houston—Charming Charlie sure lives up to its name. This week the accessories retailer announced announced it donated more than $3.7 million worth of product to women in need through its charitable giving partnership with the nonprofit organization K.I.D.S./Fashion Delivers. More than 260,000 pieces were recently given away to various community partners aiding women impacted by […]
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Port of Long Beach to consider reducing container free time
Industry groups said they are willing to work with the port to speed cargo through POLB, but expressed concern about how the plan might affect shippers, who want to pick up containers faster but say getting chassis and trucking capacity can be difficult.
Ag secretary Vilsack hopeful on China trade prospects
U.S. Agriculture Secretary Tom Vilsack said at the conclusion of the JCCT meeting Monday that China indicated it will review 11 biotechnology applications and continue the dialogue on U.S. beef.
PortMiami October box volume rises 11.6%
Port of Miami Terminal Operating Company, the only non-carrier affiliated terminal, saw its volumes double to 22,225 TEUs, the largest percentage gain among the three container terminals at the South Florida port.
Obama nominates Daniel B. Maffei to become Federal Maritime Commissioner
Maffeir, a former U.S. Representative for New York, will take the place of current Commissioner Richard A. Lidinsky, Jr., according to a statement from the White House.
OOCL launches new intra-Asia service
The Hong Kong-based ocean carrier will launch its standalone KTX8 loop, which connects Japan, China and Taiwan with Thailand and Vietnam, next week.