Chiquita International and Irish banana seller Fyffes are busy wooing shareholders, saying the synergies of a combined company would result in $60 million in annual savings, much of it from lower transportation and fuel bills.
Footwear importers last year paid $2.5 billion in duties, which are meant at least in part to protect domestic producers from low-cost imports, but in reality footwear accounts for a tiny percentage of U.S. jobs.
Hamburg Süd said it has taken steps to combat significant delays in vessel arrivals and departures at the ports of Los Angeles and Long Beach as severe congestion at the largest port complex in the Americas has reached a new level of intensity.
The world’s largest ship financiers, mostly German, could see their vessel assets, dominated by container ships, written down by up to 20 percent in the European Central Bank’s impending review of Eurozone banks’ resiliency.
Antwerp’s container traffic grew 5 percent year-over-year in the first three quarters of 2014, putting the Belgian port on track for a record total throughput in 2014.
Aided by a Pennsylvania incentive program, Mediterranean Shipping Co. will continue to operate a direct service between North Europe and Boston and Philadelphia alongside its forthcoming 2M Alliance with Maersk Line.
U.S. shippers, transportation groups and members of Congress. are intensifying pressure on Congressional appropriators to produce legislation that would send more money collected via the harbor maintenance tax back to ports as envisioned in landmark legislation signed earlier this year.
International Longshoremen’s Association President Harold Daggett called the Waterfront Commission of New York Harbor an “evil empire,” and said the bistate crime watchdog agency should be abolished.
The U.S. faces potential sanctions after the World Trade Organization ruled this week that the country has not done enough to amend regulations that require detailed sourcing information on meat products, which was previously found to violate international fair trade rules.
Japan’s trade surplus with the United States expanded for the first time in eight months in September on a year-over-year basis, as exports posted relatively strong growth despite a decline in auto shipments, according to preliminary trade figures released by the Japanese Finance Ministry today.
The American Apparel & Footwear Association and the China Chamber of Commerce for Import and Export of Textiles and Apparel today signed a memorandum of understanding aimed at easing U.S.-China shipments of fashion products in both directions.
Dockworkers in Costa Rica walked off the job today, continuing a long battle over a proposed container terminal operated by APM Terminals with a strike.
Construction on Crowley’s two vessels powered by liquefied natural gas began today, with the first of the pair slated for delivery in second-quarter 2017 and the second expected later that year.