The Philippines, one of the world’s fastest growing economies, wants to be known within the maritime industry for being more than the No. 1 provider of commercial seafarers.
But the ports should recoup much of their lost market share next year and beyond if they address their congestion and labor problems, speakers at the Port of Long Beach Pulse of the Ports breakfast said Wednesday.
The softening U.S. truckload spot market and more balanced capacity point to shippers seeking to secure more trucks from asset-based contractual partners.
U.S. imports of electrical goods in dollar value terms expanded 6.3 percent in 2014, the fifth consecutive annual expansion, partly because of a strengthening consumer sector. The trade outlook for 2015 looks positive, with import value expected to increase 5.9 percent, reaching an approximately $330 billion.
Norfolk Southern Corp.’s earnings fell 16 percent in the first quarter on weak intermodal volumes and a struggling coal market, the company reported Wednesday.
Non-vessel-operating common carriers are asking the U.S. Federal Maritime Commission to lift “unnecessary, burdensome rules” governing their contracts with shippers.
Planned container-on-barge services on the Mississippi River system and between marine terminals in New Jersey and New York have won designation by the U.S. Maritime Administration as part of Marad’s marine highway initiative.
CMA CGM has acquired a strategic stake in LCL Logistix, one of India’s leading freight forwarders and logistics firms.
CMA CGM said its New Europe Mascarene Oceania service will call at the Kattupalli International Container Terminal, an emerging alternative gateway on India’s southeastern coast.
Greek shipowner Costamare and York Capital Management, a U.S. equity fund, are considering extending the life of their investment joint venture that has already spent more than $1 billion on new and secondhand container ships.