The Shanghai Containerized Freight Index rose 9.8 percent since last week to a reading of 577.81, as rates from Shanghai to both Northwest Europe and the Mediterranean jumped 36.6 percent and 21.8 percent, respectively.
STX Shipbuilding faces restructuring, possible liquidation
Struggling South Korean shipbuilder STX Offshore & Shipbuilding Co. on Friday filed for receivership with the Seoul Central District Court amid mounting debt and continued losses.
Commerce sets duties for corrosive-resistant steel imports
The Commerce Department this week said it will impose antidumping and countervailing duties on imports of corrosion-resistant steel products from China, India, Italy and South Korea, as result of its investigations.
ECU Worldwide takes VGM compliance in stride
The company plans to accept the weights that clients provide as certified, but if clients are not able to provide the certified weight, it will weigh the cargo on their behalf.
Special Coverage: FMC’s Cordero calls for more resources to handle trade
Federal Maritime Commission Chairman Mario Cordero said one of the items that has been on his agenda since becoming chairman in 2013 is to have a better funded and better resourced Federal Maritime Commission.
WILL RECORD-BREAKING $58M BLUE DIAMOND KICK OFF A TREND FOR BLUE STONES?
Auctioneers are feeling blue these days, and that’s a great thing. Known as the Oppenheimer Blue, a 14.62-carat blue diamond set a world auction record at Christie’s Geneva Magnificent Jewels sale. The stone sold for more than $57.5 million, including commission and fees. The Oppenheimer Blue sold beyond its $46.1 …
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JCPENNEY, LORD & TAYLOR HONOR MEMORIAL DAY WITH MORE THAN JUST SALES
While most stores use Memorial Day as a way to simply drive traffic into the store with huge sales, it’s nice to know that some retailers are doing direct tie ins to honor and benefit the military and those touched by war. In honor of Memorial Day, JCPenney is inviting …
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GET READY FOR KENZO AT H&M THIS FALL!
H&M will unleash its latest annual designer collaboration this fall: this time with Parisian fashion house Kenzo. The collection launches worldwide November 3 in over 250 select H&M stores and on HM.com. The collaborative collection will feature clothes and accessories for both men and women. Consumers have come to expect …
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SEARS’ CONTINUED SLUMP SPARKS DEPARTURE OF CHIEF FINANCIAL OFFICER
Illinois-based department store chain Sears Holdings has reported another decline in sales for Q1 2016. In a lengthy breakdown of the company’s financials, Sears Holdings also announced the departure of its CFO. Revenues decreased approximately $488 million to $5.4 billion for the quarter ended April 30, 2016, compared to revenues …
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Port of Oakland’s largest terminal makes appointments mandatory for imports
SSA Marine’s Oakland International Container Terminal will make appointments mandatory for the majority of containerized import pick-ups in order to shorten lines at terminal gates and speed up cargo delivery to customers.