Vietnam’s preferential access to European Union markets and those of the U.S. once free trade deals between the two blocs are ratified will accelerate growth in the country’s already booming apparel and footwear markets, believes global tag and label maker Avery Dennison.
The United States and any other country that is party to SOLAS can delay implementation of the International Maritime Organization’s controversial container weight rule by up to a year, a fact bound to increase pressure on the U.S. Coast Guard to extend the deadline past July 1 to avoid potential trade disruption.
Truck turn times at the Middle Harbor container terminal in Long Beach will improve greatly when the automated facility receives its first vessel April 7 because truck traffic will be completely separated from vessel operations, the company’s top executive said.
Japan’s Kintetsu World Express saw its group revenue soar 26.3 percent year-over-year in the first nine months of fiscal 2015, which ends March 31, to 295.159 billion yen ($2.57 billion), but that wasn’t enough to stop the company from downgrading its full-year revenue and profit forecasts.
In a sign that U.S. container volumes in 2016 could turn out better than forecast, the Port of Los Angeles last month handled 704,398 twenty-foot-equivalent units, making it the busiest January in the port’s history.
Chassis provider TRAC Intermodal and a technology provider have unveiled cloud-based software designed to allow intermodal equipment providers and motor carriers to automate billing and reconcile invoices.
Fitch Ratings is warning that the new International Maritime Organization’s Safety of Life at Sea container weight mandate is poised to slow cargo throughput at U.S. ports as carriers, shippers and terminal operators grapple with rule set to take effect July. 1.
Jack Holmes, the career UPS executive who became president of UPS Freight in 2007, will retire in June. Rich McArdle, another UPS veteran, will take his place.
The U.S. National Transportation Safety Board plans a second expedition to search for the voyage data recorder and other evidence from the TOTE Maritime cargo ship El Faro, which sank Oct. 1 with the loss of its 33-member crew.
U.S. lawmakers in the Senate Thursday overwhelmingly passed a U.S. Customs and Border Protection bill that will streamline import duties on goods destined to be re-exported and allow articles exported from the country to be commingled for the first time. The bill also toughens U.S. trade law enforcement and rules against currency manipulation.
A Feb. 1 change in dimensional weight pricing will benefit Forward Air Corp., the CEO of the ground-air expedited transportation company told Wall Street analysts this week.
Maher Terminals, the largest container terminal in the Port of New York and New Jersey, is continuing to pursue litigation claiming it’s being unfairly charged higher rent than adjacent APM Terminals.
Shipping Corporation of India almost doubled its third-fiscal quarter net profit as cost savings, driven by lower bunker fuel prices and a change in depreciation provision, more than offset sluggish global trade and a marginal decline in operating revenue.