Spot container rates from Shanghai to the United States declined since last week, while rates from Shanghai to Europe and the Mediterranean increased slightly, according to the Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI).
“K” Line containership under inspection after drifting away from Port of Boston
The 8,614-TEU vessel Helsinki Bridge broke free from its berth and drifted away from the Port of Boston during heavy winds on Tuesday, according to multiple media reports.
Port Canaveral completes West Turning Basin deepening project
The six-month project involved deepening the West Turning Basin to the authorized depth of 43 feet (plus two feet of additional overdredge), complementing the existing authorized port channel depth of 44 feet.
OOCL to introduce new Japan-Vietnam service
The KTX7 will complement six current loops in OOCL’s KTX suite of services, connecting Japan to Southeast Asia markets, the Hong Kong-based ocean carrier said in a statement.
Hudson’s Bay Co. Posts Higher Q3 Loss Than Expected
Hudson’s Bay Co is yet another victim of today’s tough economic climate, posting a higher Q3 loss than the retailer expected
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NPD: Crowded Stores and More Online Buyers, But Thanksgiving Week Spending Fell Short
The crowds were there but the dollars weren’t…at least not yet. According to NPD’s Checkout e-commerce information, U.S. consumer spending did not match the reports of in-store crowds on Thanksgiving and Black Friday weekend this year, and significant increases in online buyer activity translated into mediocre spending increases on the key …
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92Y Honors Robert Lee Morris, Klaus Bürgel in Jewelry Event
The 92Y Jewelry Center annual benefit honored longtime faculty member Klaus Bürgel and renowned jewelry designer Robert Lee Morris, known for his 92Y involvement. The evening’s result surpassed expectations, raising over $30,000 in support of 92Y’s Jewelry Center. Proceeds from the event help the nonprofit cultural and community center retain faculty, grant scholarships and provide …
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PANYNJ approves $3.2b for operations in 2018, $3.4b for capital projects
The Port Authority of New York and New Jersey’s (PANYNJ) 2018 operating budget is an increase of $61 million, or 1.9 percent over the 2017 budget, and expenses are expected to be offset by a revenue increase of $127 million (2.5 percent), over last year.
ITC: Canadian softwood lumber harms U.S. producers
The International Trade Commission’s (ITC) determination that U.S. softwood lumber producers are harmed by similar products from Canada allows the continued imposition of U.S. antidumping and countervailing duty orders against these imports.
Port of Virginia sees modest cargo growth in November
The Port of Virginia reported a 1.9 percent increase in TEU volumes and a 1.7 percent increase in total containers for the month, according to figures from the Virginia Port Authority (VPA).