The United States boosted steel import volumes 12.3 percent month-over-month in July to 3.17 million net tons, thanks to a surge in steel imports from Brazil.
Rickmers, E.R. Capital will not pursue merger of ship management divisions
Rickmers Holding AG and E.R. Capital Holding said they have jointly decided not to pursue the merger of their ship management activities “for the time being.”
Container carrier losses could reach $10b in 2016
With 13 of the top 20 container lines reporting combined losses of $2.5 billion in the first half alone, industry losses will likely range from $8 billion to $10 billion for the full year, according to Lars Jensen, CEO of SeaIntelligence Consulting.
Eimskip’s Q2 net earnings soar 58.7%
The Icelandic shipping company reported net earnings of 8.8 million euros on revenues of 126.1 million euros for the second quarter of 2016.
UPS Freight to cut 160 positions at Richmond HQ
The parcel giant’s trucking unit plans to lay off 80 workers during third quarter 2016, and another 80 over the next year as part of an effort to cut costs and streamline operations, according to a statement from the company.
SCFI remains stagnant from last week
The Shanghai Containerized Freight Index slipped 0.2 percent since last week to a reading of 596.38.
G6 voids another transpacific sailing in October
The ocean carrier alliance will skip the Oct. 11 voyage on its North Pacific 3 (NP3) service between Asia and the Pacific Northwest in response to “expected low demand in October,” member OOCL said in a statement.
Reports: Little new in latest Hanjin finance plan
However, Hanjin’s creditors plan to decide whether to put the liner carrier under receivership by Tuesday, Yonhap news agency reported.
Administration Solicits Comments for Notorious Markets
The Office of the U.S. Trade Representative (USTR) is requesting assistance from the public in identifying Internet-based and physical counterfeit markets located outside the United States that should be included in the 2016 Notorious Markets List. This list, which the U.S. government has published since February 2011, identifies “select online…
USDA forecasts $133b in ag exports for FY 2017
The U.S. Department of Agriculture said the nation’s agricultural trade surplus is also expected to increase to $19.5 billion for fiscal year 2017, up 40 percent from $13.9 billion for fiscal year 2016.