Ports in the United States will benefit from the federal government’s effort to improve freight mobility with the so-called FASTLANE program, according to the credit rating agency Moody’s Investor Service.
Port of Los Angeles reports first half volumes rise despite weak June
The Southern California port saw cargo volumes rise 5.9 percent year-over-year for the first six months of 2016.
DOT seeks improved response to oil train derailments
The U.S. Department of Transportation has proposed regulations to require that railroads provide state and tribal emergency responders with frequent and more detailed information to respond to oil train derailments.
WWL to pay $98.9m price fixing fine
Wallenius Wilhelmsen Logistics has agreed to plead guilty and pay a $98.9 million criminal fine for its involvement in a conspiracy to fix prices on international ocean shipments of roll-on/roll-off cargo.
ZIM to implement INTTRA’s eVGM solution
The Israeli ocean carrier will implement software provider INTTRA’s eVGM service, which will help shippers comply with the new verified gross mass rule that took effect July 1.
U.S. takes on China in WTO over raw material export duties
The United States has asked the World Trade Organization to press for China’s elimination of export duties on nine different raw materials used in the manufacture of wide range of high-tech and industrial products.
GENCO’s warehouse closure to cost around 160 jobs
The third-party logistics company is closing a distribution center in southeast Memphis, which will result in the largest lay off announced by any company in the Memphis metro area so far this year.
KENDALL + KYLIE EXTEND THEIR BRAND WITH HANDBAGS
Our favorite first-name sisters have added a new rung in their ladder to branded Kendall + Kylie greatness: handbags. After success with their shoe and ready to wear lines, the moguls have branched into leather handbags, rolling it out at Saks Fifth Avenue, Bloomingdale’s and other major retailers. Reflecting their …
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SILVER SURGES IN 2016; PRICE RISES 47%
Silver’s price performance soared in the first half of 2016, fueled by increased investor interest in silver as a safe haven asset and as leveraged exposure to gold’s price rally. In the period January 4 – July 11, silver’s price increased 44.7%, based on the LBMA Silver Price, significantly outpacing …
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Report: Corruption case could cost APMT Puerto Quetzal concession
APM Terminals has been unwittingly entangled in a bribery scandal surrounding Guatemala’s former president Otto Perez Molina as a result of its purchase of Spanish port operator Grup TCB, according to a report from Danish news outlet Fagbladet 3F.