When the Nicaraguan government earlier this month approved plans by a Hong Kong-based company to build a canal linking the Pacific with the Caribbean and thus the Atlantic, observers in the maritime industry were largely left scratching their heads.
26 Jul 2014
The International Longshore and Warehouse Union and the Pacific Maritime Association met for three days this past week without concluding negotiations; at the weekend, the parties announced a week-long recess in the talks. German carrier Hamburg Süd announced plans to acquire the container operations of Chile’s CCNI, in a move resembling the deal between larger competitor Hapag-Lloyd and Chile’s CSAV, and Crowley is reported to be in talks to acquire Horizon Lines’ Puerto Rico assets. Earnings reports by U.S. truckload carriers are pointing to a stronger freight recovery in the United States, though rail service continues to be held back. And on Friday, Anne S. Ferro announced her departure from the Federal Motor Carrier Safety Administration after five years leading the agency.
09 Jul 2014
The Panama Canal Authority, which earlier this year dismissed the possibility of an alternate canal through Nicaragua, had a more cautious reaction this week following the Nicaraguan government’s approval of plans by a Hong Kong-based company for the proposed $40 billion canal.
08 Jul 2014
A Nicaraguan government committee today approved the route of a proposed $40 billion canal project that will bisect the country and rival the Panama Canal waterway linking the Pacific Ocean and the Caribbean.
04 Jul 2014
Nicaragua has always occupied a special place among CAFTA member states.
04 Jul 2014
A decade after its signing, and five years after full implementation, the Central America Free Trade Agreement may not have transformed Central America into the powerhouse of textile and apparel trade forecast by some optimists, but it has facilitated significant growth in that sector of the region’s economy, along with diversification into other sectors.
02 May 2014
Several carriers have planned general rate increases in multiple trade lanes in May and June, although any gains achieved could be temporary as overcapacity and sluggish global demand continue.
14 Mar 2014
Manuel Coronel Kautz, the president of the Nicaraguan Canal Commission, has announced that the traditionally proposed Nicaragua canal route up the San Juan River...
03 Feb 2014
SEA ISLAND, Ga. — A canal through Nicaragua connecting the Atlantic and Pacific oceans will cost double proponents’ estimate and will likely never be built, the No. 2 official at the Panama Canal said today.
15 Nov 2013
Major container lines have announced planned rate increases for a variety of trades, as detailed below, slated to take effect in November, December and January.