Despite the Port of Los Angeles reporting that August was its strongest month for container volumes since October 2006, the Port of Long Beach posted an 8.9 percent year-over-year drop in container volumes for the month to 641,029 TEUs.
Obama restores Myanmar to U.S. duty-free import program
President Obama signed a proclamation to reinstate Myanmar’s eligibility to the U.S. Generalized System of Preferences program that allows certain goods from developing countries to enter the U.S. duty free.
Aljex, Triumph Business Capital offer freight payment services
Aljex Software has joined with Triumph Business Capital to provide two working capital services to brokers, carriers and third-party logistics providers.
Report: Another 13-year-old containership scrapped
Hamburg-based ship management company Hammonia Reederei sold the 3,100-TEU boxship Westphalia for scrap at a “weak” price of $240 per light displacement ton, according to a report from maritime news outlet Splash 24/7.
Charleston prepares for larger ships despite trade slowdown
South Carolina Ports Authority President and CEO Jim Newsome outlined big ambitions for keeping Charleston a top 10 container port at his annual “State of the Port” address Monday.
Executive Moves: INTTRA and SEKO
INTTRA appoints president for the Europe, Middle East and Africa region; and SEKO Logistics names VP of its home delivery business.
Port of Prince Rupert looks into handling new types of cargo
The Canadian port said it is looking into creating a breakbulk and bulk import/export terminal on Kaien Island, following the loss of breakbulk and general cargo capacity in 2007 when it converted the Fairview Terminal into a container terminal.
PEARL PRICES RISE AS FASHION CONTINUES TO EMBRACE THEIR LUSTER
Pearls are having a moment. For evidence, look no further than the fall 2016 runways of Miu Miu, Gucci, Chanel and Dries von Noten, among others. They’ve also been seen on Kim Kardashian, Lupita N’yongo and Caitlyn Jenner. And for those statistical diehards, pearl sales peaked in 2015 seeing a …
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Port of Salalah posts 29% surge in box volumes
The Omani port, which is equipped to handle the ultra-large containerships that have been entering service on the Asia-Europe trade, saw container volumes jump 29 percent year-over-year for the first half of 2016 to 1.6 million TEUs.
GLP purchases $1.1b U.S. logistics portfolio
Industrial logistics real estate developer Global Logistic Properties will acquire an initial $700 million portfolio with an additional $400 million portfolio to be acquired in phases upon completion and full lease-up, the company said in a statement.