The Port of Virginia closed its Hampton Roads terminals Thursday after a winter storm dumped as many as nine inches of snow in some corners of the southeastern corner of the state.
Mediterranean Shipping Co. plans in late April to launch a new container service directly linking India and China to capitalize on the booming intra-Asia cargo trade.
The top 20 Chinese ports had a throughput of 15.5 million 20-foot containers in January, with Shanghai and Shenzhen terminals handling almost half of them, according to Shanghai Shipping Exchange data.
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.