The World Trade Organization’s trade measures approved this week in a historic agreement could cut the cost of trade by up to 15 percent, boost the global flow of goods, accelerate economic growth and add up to 20 million new jobs, most of them in developing nations.
United Arab Shipping Co. today named the industry’s first-ever LNG-ready ultra-large container vessel at Ulsan in Korea, with Sajir becoming the first of 17 vessels ordered by the carrier.
Orient Overseas Container Line (OOCL) became the latest carrier to postpone a port congestion surcharge for cargo entering North America via West Coast gateways, reversing a decision to impose the levy announced just days ago.
The revenue container shipping lines are achieving per TEU has been falling steadily over the past three years as freight rates continue to weaken under the burden of excess capacity.
The Port of Seattle Commission on Tuesday approved its 2015 budget that calls for $373.8 million in capital expenditures for the seaport and for Sea-Tac International Airport.
The National Customs Brokers and Forwarders Association of America on Wednesday charged that ocean carriers may be violating the U.S. Shipping Act with their congestion surcharges at West Coast ports.
A weekly index of intermodal spot pricing showed post-peak season weakness and was weighed down by rate erosion on freight moving out of Chicago, where intermodal prices have been consistently strong this year. However pricing support out of the West Coast pointed to the effects of congestion at the Los Angeles-Long Beach ports.
An Israel Corp. shareholder vote on the spinoff of Zim Integrated Shipping Services and several other businesses into a new company, Kenon Holdings Ltd., has been scheduled for a Dec. 31 vote.
Matson Navigation Co. will raise its rates for its Guam Commonwealth of Northern Mariana Islands and Micronesia services by $225 for both westbound and eastbound containers, effective Jan. 25, 2015.
Spot market dry van truck rates in the U.S. rose in the week that ended Nov. 22 and are more than 9 percent higher than in the same week a year ago, DAT Solutions said.
U.S. shippers, especially retailers, are increasingly nervous and frustrated by supply chain delays and higher transport costs linked to West Coast port congestion, and worried about how that congestion will affect the movement of goods to inland distribution points.
BNSF Railway is no longer accepting empty containers headed to Seattle and Tacoma marine terminals at railyards in Chicago; St. Paul, Minnesota, Denver and Omaha.
U.S.-Mexico cross-border trucking and rail volume is poised to increase after Mexican factory export production in October hit a five-year high.