The number of twenty-foot equivalent units that passed through Port of Long Beach terminals was up 9.2 percent last month compared to June 2016, according to the latest data from the Southern California port.
Cathay Pacific to buy DHL stake in Air Hong Kong
The official flag carrier of Hong Kong will purchase the remaining 40 percent of shares in Air Hong Kong, held by DHL, who in turn will acquire eight freighter aircraft from Air Hong Kong.
Commentary: Scale, subsidies trump profits in liner shipping
COSCO’s acquisition of OOIL illustrates once again that normal fundamentals aren’t at play in the ocean shipping industry, where governments, sovereign wealth funds, and patriotic investors play outsized roles in the success or failure of specific lines.
Editorial: Summer of trade’s discontent
With so much acrimony already between the U.S., Mexico and Canada over various commodities traded across their borders, just imagine how hard it will be for the Trump administration to reshape the 23-year-old North American Free Trade Agreement (NAFTA).
Special Coverage: Port of LA, GE pilot aims to take shipping data from analog to digital
The Port of Los Angeles and General Electric recently launched an ambitious data portal pilot program that will digitize the movement of shipment information in an effort to improve the flow of goods at the nation’s busiest seaport.
SAFILO RELOCATES ITS NORTH AMERICAN HEADQUARTERS TO SECAUCUS, NJ
Safilo has relocated to shiny new offices, complete with a customer showroom and other amenities, at 300 Lighting Way in Secaucus, NJ. The new headquarters, which officially opens today, is located approximately five miles from New York City and occupies the second and fourth floors of a 10-story building. Designed as …
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Nixon tabbed as CEO of Ocean Network Express
The “Big 3” Japanese container lines – MOL, NYK and “K” Line – have named Jeremy Nixon, former Chief Executive Officer of NYK Group’s container division, to lead their new joint venture scheduled to commence operations in early 2018.
Drewry: Idle containership fleet declining
As of June, 178 containerships with an aggregate capacity of 474,000 TEUs were idle, with over half of the ships having a capacity of 2,000 TEUs or less, according to maritime consultant Drewry.
Port of Oakland box volumes up 5.1% in June
The Northern California port handled 204,255 TEUs for the month, with full container imports reaching 80,253 TEUs and full container exports totaling 75,460 TEUs.
IMF lowers U.S. growth forecast as Trump’s fiscal plans have yet to materialize
The International Monetary Fund has lowered the GDP growth projection for the United States from 2.3 percent to 2.1 percent for 2017, warning that the Trump administration is unlikely to achieve its stated goal of an annual GDP growth of 3 percent.