The Nigerian government is poised to open more inland ports to help decongest the country’s overwhelmed terminals in Lagos.
The Long Beach Board of Harbor Commissioners appointed industry veterans Michael Christensen and Glenn Farren to newly-created management positions that were established to enhance cargo flow and improve service, as the second-largest U.S. container port recovers from months of congestion.
Shipping lines in the eastbound Pacific confirmed on Wednesday their intention to raise freight rates $600 per 40-foot container for all shipments on March 9, and to increase rates an additional $600 per FEU on April 9.
WASHINGTON — California Rep. Janice Hahn called on the House Budget Committee Wednesday to increase funding for U.S. ports, which will see financing fall millions of dollars short of targets Congress and the White House agreed on last year.
The Obama administration is discussing a plan that U.S.-flag carriers fear will further reduce their ability to carry food aid shipments financed by government agencies.
The credit ratings of major West Coast ports will not be significantly impacted in the short to medium term by the cargo-handling disruptions that occurred during the protracted dockworker contract negotiations, but continued labor problems would cast the ports as unreliable, and would likely lead to permanent cargo diversion, Fitch Ratings stated Wednesday.
Genesse & Wyoming has agreed to acquire 95 percent of the shares of Freightliner, the UK’s second largest rail freight company, in a £490 million ($760 million) deal that significantly expands the US rail operator’s European footprint.
Kuehne+Nagel in 2014 became the largest non-vessel operating common carrier serving the overall U.S. import market, knocking longtime leader Expeditors International out of the top spot, according to PIERS, a sister product of JOC.com within IHS.
Merely suggesting that U.S. domestic ships might be built overseas is enough to jeopardize U.S. orders for ships in Jones Act trades, U.S. Maritime Administrator Paul “Chip” Jaenichen told a congressional budget hearing Wednesday.
The last two months of U.S. West Coast congestion appear to have cemented many shippers’ plans to divert cargo to other ports, according to a recent JOC.com survey.