Intermodal pricing dropped for 20th straight month compared with the prior year period, according to the latest Cass Intermodal Price Index, and analysts with Avondale Partners expect the trend to continue through the rest of the year.
CEVA to manage Vermeer’s European parts distribution
CEVA Logistics said it has secured a three-year contract to manage the European parts distribution for agricultural and industrial equipment manufacturer Vermeer.
Special Coverage: Shippers not using duty drawback may be leaving money on the table
The U.S. government in 2015 issued an estimated $804 million in duty drawbacks, less than 10 percent of the amount available to shippers, but upcoming regulatory changes should attract more shippers to the longtime duty refund program.
Great Lakes iron ore trade ticks up in August
Meanwhile, several ports along the Great Lakes have highlighted their success throughout the 2016 shipping season.
Radiant Logistics posts FY net loss of $5.6m
However, the Bellevue, Wash.-based third-party logistics and multi-modal transportation services company’s revenues for the fiscal year, which ended June 30, rose 55.7 percent year-over-year to $782.5 million.
LORD & TAYLOR’S BIRDCAGE GIVES US A “FRENCH KISS”
Ooh la la! That was the overriding theme at Lord & Taylor’s latest Birdcage theme “French Kiss.” The main-floor shop regularly rotates themes (last one was “Roses”) with an eclectic and intriguing mix celebrating France as well as the City of Lights. Making the fifth iteration of the unique …
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Rickmers Maritime seeks to restructure debts
The Singapore-listed containership owner and operator is unable to to meet on-going coupon and principal payments on $100 million Singapore (U.S. $73.2 million) in 8.45 percent notes due May 2017, the company said in a presentation to noteholders.
Typhoon Meranti causes chaos at Port of Kaohsiung
The typhoon caused a 14,000-TEU containership to destroy two container cranes at the Port of Kaohsiung’s sixth container terminal after slamming into them and local port officials believe the terminal could be out of operation for weeks.
BIMCO: Newbuild vessel orders drop to lowest level in 20 years
Contract orders for containerships are down 84.1 percent year-over-year so far in 2016, which is “exactly what the shipping industry needs,” according to Peter Sand, chief analyst at shipowner association the Baltic and International Maritime Council.
ITC offers miscellaneous tariff bill website
The U.S. International Trade Commission has released a new web page to provide information about how it plans to implement new duties related to the miscellaneous tariff bill process.