Maher Terminals said a fifth ship has been diverted to a nearby terminal as the Port of New York and New Jersey’s largest container facility struggles with congestion and delays for a second week.
The Port of Long Beach reported total container volume in May was 583,588 20-foot-equivalent units, up 17.2 percent compared with the same month last year, making it the highest monthly container volume since October 2010.
The U.S. Industrial Production Index remained mostly unchanged in May 2013, edging up only 0.04 percent, according to the latest retail report from the Board of Governors of the Federal Reserve System.
Inflation-adjusted gross domestic product increased at a 2.4 percent annual rate in the first quarter of 2013, while manufacturing output rose at a “much faster” 5.0 percent annual rate, according to the quarterly Manufacturers Alliance for Productivity and Innovation U.S. Industrial Outlook.
Crowley Maritime’s logistics group has launched a new, weekly less-than-containerload service from Chicago to Puerto Rico, the Caribbean and Central America.
The European Union and the U.S. officially launched far-reaching negotiations on a trans-Atlantic free trade and investment agreement today that could boost their combined economies by as much as $280 billion a year.
U.S. containerized exports could exceed imports during certain months as soon as 2016 and on an annual basis by 2020, Walter Kemmsies, chief economist at Moffatt & Nichol, told the annual meeting of the Agriculture Transportation Coalition.