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| May ore loads on Great Lakes down over a year ago |
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Tuesday, June 18, 2013
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Shipments of iron ore on the Great Lakes totaled 6.4 million tons in May, an increase of 15.1 percent compared to April, the Lake Carriers’ Association said. However, the association noted the amount was a decrease of 6.6 percent compared to a year ago. Loadings also trailed the month’s long-term average by 4.8 percent. Shipments from U.S. ports totaled 5.8 million tons, a decrease of 2.9 percent compared to a year ago. The May total included 380,000 tons shipped t...
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| Washington Notebook: U.S.-EU trade talks to start next month |
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Tuesday, June 18, 2013
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U.S-EU free trade negotiations. The United States and European Union announced during the G-8 Summit in Ireland that they would begin formal trade negotiations the week of July 8 in Washington. U.S. and European Commission officials have been making preliminary plans for talks since the beginning of the year and the announcement follows final approval in recent days from the European Parliament. Completion of a Transatlantic Trade and Investment Partnership is expe...
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| EU gives green light to U.S. trade discussions |
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Monday, June 17, 2013
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The European Parliament has officially given the green light to begin formal talks between European and American officials toward the Transatlantic Trade and Investment Partnership. Official talks will now begin as soon as U.S. officials start negotiations, which means discussions will likely start next month or so, according to the European Union. EU member states also sent out a list of objectives the European Commission should follow when negotiating. ...
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| USDA takes steps to further balance sugar surplus |
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Monday, June 17, 2013
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The U.S. Department of Agriculture today announced actions to manage the domestic sugar surplus, as required by law, while operating the sugar program at the least cost to the government. “Record-breaking yields of sugar crops and a global surplus have driven down U.S. sugar prices and USDA is required to act to stabilize the domestic market. Today’s actions are designed to manage the sugar program while minimizing federal sugar program expenditures,” the department said. ...
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| Drewry says Med-North America trade soft |
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Monday, June 17, 2013
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The shipping consultants Drewry are predicting that the westbound cargo growth in the Mediterranean-North America trade "is likely to remain poor, so more schedules between the Mediterranean and ECNA (East Coast North America) will need to be rationalized soon. Operating services in isolation, such Hapag-Lloyd’s MGX schedule, and MSC’s loops A and B, appears to be a luxury that is no longer affordable." The London-based company said in its Container Insight Weekly publication t...
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| U.S. imports drop 2% in May |
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Wednesday, June 12, 2013
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U.S. containerized import volume in May fell 2.2 percent year-on-year but was still the highest volume of imports so far in 2013, according to statistics from the trade intelligence firm Zepol. “For the first two months of the year imports were up 7 percent over 2012, but in the last five months imports are only up 0.04 percent overall,” said Zepol’s Chief Executive Officer Paul Rasmussen. “With holiday orders being placed soon, we’ll likely see increased imports...
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| Boeing sees need for 35,000 planes by 2032 |
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Tuesday, June 11, 2013
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With both passenger and cargo traffic expected to grow 5 percent annually moving forward, the global airline industry will need more than 35,000 new planes at a cost of $4.8 trillion over the next 20 years, according to Boeing’s Current Market Outlook . The largest amount of demand will come in the single-aisle category, with Boeing predicting a need for 24,670 planes at a cost of $2.29 trillion. The manufacturer predicts the least amount of demand will come for large, wide...
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| G20 lagging behind in trade, study finds |
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Tuesday, June 11, 2013
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Of the 20 nations in the G20, a group that has pledged to roll back protectionist trade measures, only Canada ranks among the top 20 trade markets in the world, according to the International Chamber of Commerce’s 2013 Open Markets Index . The biennial index, which was created to follow up on open-trade pledges by governments, ranks 75 countries according to openness to foreign investment, trade-enabling infrastructure, trade policy and overall trade openness. The countries are ...
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| Great Lakes coal loads fall 11.3% in May |
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Tuesday, June 11, 2013
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Shipments of coal on the Great Lakes totaled 2.6 million tons in May, a decrease of 11.3 percent compared to a year ago, according to the Lake Carriers’ Association. Coal loads from Lake Superior ports totaled 1.6 million tons, just slightly below the level of a year ago. Included in that total were 250,000 tons loaded in Superior, Wis., and transshipped to Québec City for loading into oceangoing colliers. Exports to Europe from Superior total 536,000 tons through May, the asso...
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| Drewry says transatlantic trade 'continues to disappoint' |
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Monday, June 10, 2013
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Cargo volumes moving from North America to North Europe picked up in the first quarter, but are “unsustainable due to the austerity measures being taken by most European governments,” according to an article in the current edition of Drewry’s Container Insight Weekly . Drewry said exports from North America to North Europe improved significantly in the first quarter, with “average monthly cargo flow reaching 176,000 TEUs, up by 14 percent compared to the previous quarter, or 5 ...
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| Trade nominee faces Senate confirmation panel |
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Friday, June 07, 2013
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President Obama’s nominee for U.S. Trade Representative, Michael Froman, spent Thursday on Capitol Hill telling the Senate Committee on Finance that his goals of promoting growth and bolstering the economy will be achieved by renewing Trade Promotion Authority and making sure pending free-trade agreements come to fruition. Obama tapped Froman, who has been serving as deputy national security advisor for international trade and economics, to run the agency on May 22. According to...
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| Seaspan sees big demand for efficient ships |
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Friday, June 07, 2013
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Gerry Wang, the chief executive officer of Seaspan, one of the world’s largest builders and charterers of containerships, told financial analysts that while freight rates are depressed, there is no shortage of demand for efficient new vessels. Referencing the price war on the Asia-Europe trade, he said ships are still loading up by 75-80 percent, and said in other industries it might be possible to make money by increasing prices, but “because of some stupidity” among operators...
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| Stifel: Shipper TMS use leads to 'surgical' truck pricing |
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Friday, June 07, 2013
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The way truckload carriers price their services has been affected by increased usage of transportation management systems (TMS), the transportation and logistics research group of the investment bank Stifel Nicolaus said in an industry wrapup Friday. “(Truck) pricing has become more technical/surgical as the usage of Transportation Management Systems has become more widespread across the universe of shippers,” the group wrote. “The days of shippers living year after year w...
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| Intermodal grew 3% in May |
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Friday, June 07, 2013
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Last month, intermodal traffic rose 3 percent, year over year, to 1.21 million containers and trailers, according to the Association of American Railroads. May’s weekly average for intermodal traffic stood at 242,823 containers and trailers, the highest result the AAR has recorded. Carloads finished the month at just more than 1.4 million units, a 0.7-percent increase over May 2012. Out of the 20 major commodities tracked by AAR, 11 increased in May, with the bigge...
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| Yucatan cucumber exports rise |
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Friday, June 07, 2013
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Grup Maritim TCB, a global marine terminal operator, said Mexican cucumber exports to the United States and Europe from its terminal at Puerto Progresso on the Yucatán peninsula reached a record high of 1,490 TEUs during the harvest season between November and April. The containers held about 30,000 tons of the vegetable. The previous export record was 1,271 40-foot containers in the 2008/09 season.
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| Japanese retailer buys U.S. logistics firm |
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Thursday, June 06, 2013
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The Japanese online retailer Rakuten is set to acquire Las Vegas-based online fulfillment firm Webgistix for an undisclosed amount. Rakuten Chief Executive Officer Hiroshi Mikitani unveiled the deal at an e-commerce event in Chicago. Webgistix’s five facilities located throughout the U.S. will give the Japanese retailer a large footprint in the country. According to new reports from the conference, Mikitani hopes to expand Rakuten to 27 countries in the...
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| FCA use grows as shippers seek more control |
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Thursday, June 06, 2013
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Shippers are increasingly using the free carrier (FCA) Incoterm in their freight contract rather than the free on board (FOB) designation, according to an executive with Ryder. In a blog entry this week , Lee Williams, director of business development for the retail division of Ryder Supply Chain Solutions, wrote that companies sourcing in Asia are turning to the FCA designation to start taking more control of their supply chain. Using FCA essentially means the buye...
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| ICS: Green regulations could cost $500 billion |
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Thursday, June 06, 2013
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Masamichi Morooka, the chairman of the International Chamber of Shipping (ICS), said this week that new legislation to protect the environment could potentially cost the shipping industry $500 billion between 2015 and 2025. “As many companies struggle to survive during the difficult years ahead, we must persuade governments to avoid placing yet more straws that risk breaking the shipowner’s back — and the straws to which I refer are the impending costs of environmental legislat...
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| Cass: Freight voulmes up in May |
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Wednesday, June 05, 2013
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North American freight volumes rose by 2.9 percent last month when compared to April, while expenditures stayed relatively flat, with an increase of .04 percent, according to the May issue of the Cass Freight Index Report . Compared to the same month last year, however, May’s shipment volume declined by 0.3 percent; expenditures also dropped, showing a 2.6-percent decline. Rail, and the shipment of crude oil, had a lot to do with increased volumes in May. Cru...
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| Chairman: Collaboration key for global air cargo group |
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Wednesday, June 05, 2013
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As the new chairman of the Global Air Cargo Advisory Group (GACAG), Oliver Evans wants to build on the momentum created over the past two years and pave a clear path forward toward conquering new challenges. Evans, chief cargo officer of Swissport International Air Lines, assumed his new role when he recently took on the chairman position at The International Air Cargo Association. Atlas Air's Michael Steen served as the first GACAG chairman. GACAG, formed in 2011,...
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| Drewry: Liner rate war could hurt service |
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Wednesday, June 05, 2013
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Drewry cautions that shippers may see a deterioration in service if the current price war in the ocean container industry continues. “The carrier financials that have so far been published for the first quarter of 2013 present the same mixed bag of results that typified 2012. Some carriers made a little money but more lost cash, meaning that the industry at large started 2013 in the red,” said the London-based firm, which has just published the latest edition of its monthly Sea...
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| FedEx speeds up aircraft retirements |
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Wednesday, June 05, 2013
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In a nod to sluggish global economic activity, FedEx Express will accelerate the retirement of 66 older aircraft and 308 related engines that are less fuel efficient and less reliable than newer planes, the company said Monday. During the previous year ended Feb. 28, the FedEx airline spent $3.8 billion on fuel for its 660 aircraft. Last October, FedEx announced a $1.7 billion cost-cutting initiative. The express carrier will take a $100 million impairment charge o...
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| Saltchuk buys Alaska trucker Carlile |
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Wednesday, June 05, 2013
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Saltchuk Resources, a Seattle-based family of transportation and petroleum distribution companies, has acquired Carlile Transportation Systems, one of the largest trucking and logistics companies in Alaska. Carlile’s 700 employees will join Saltchuk’s national team of 5,500 workers. Carlile will remain a standalone company headquartered in Anchorage. "As with all of the Saltchuk companies, we will reinvest in Carlile’s assets, pursue growth opportunities, and build ...
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| Washington Notebook: DOT selects experts for Freight Advisory Committee |
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Tuesday, June 04, 2013
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The U.S. Department of Transportation on Thursday named 47 professionals from industry, academia, labor, safety advocacy and government to its inaugural Freight Advisory Committee, which will provide advice and recommendations for improving the national freight transportation system. Its first order of business will be to help the department create a national freight transportation strategy, as required by last year's MAP-21 surface transportation law. The DOT said it sought to ...
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| New tankers could be run on LNG |
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Tuesday, June 04, 2013
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Continuing interest by U.S. shipping companies in natural gas to power ships was highlighted by the announcement by General Dynamic's NASSCO shipyard in San Diego last week that four, 50,000 DWT Jones Act product tankers that it is building for American Petroleum Tankers will be "LNG-conversion-ready." The contract includes options to build four additional ships. Construction of the first tanker is scheduled to begin in the third quarter of 2014, with deliveries scheduled to beg...
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| CaroTrans enters Philippines partnership |
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Tuesday, June 04, 2013
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The NVOCC CaroTrans said it has entered into a strategic alliance with Multifreight Consolidator System, Inc. (MFCSI), an NVOCC in the Philippines market. CaroTrans said the two companies "will offer fast, reliable, less-than-containerload (LCL) and full containerload (FCL) import and export cargo services between North America and the Philippines. A direct, weekly service to Manila departed Long Beach on May 24th with a transit time of 22 days. A Manila to Los Angeles se...
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| New ship design aimed at intra-Asian trade |
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Tuesday, June 04, 2013
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Intra-Asian regional container traffic is forecast to reach 75 million TEU in 2016, up nearly 32 percent from 2012's 57 million TEU, says Germanishcher Lloyd (GL), which writes about a new containership design aimed at the market in the latest issue of its Nonstop magazine . "Container traffic in Asia is forecast to grow faster than elsewhere in the world up until 2016. It is assumed that this trend will continue despite apparent moderate growth in China," the ship classificatio...
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| IATA bumps up global profit estimate |
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Monday, June 03, 2013
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The International Air Transport Association bumped up its global airline profitability by $2.1 billion to a projected $12.7 billion in 2013. The industry generated $7.6 billion in profits last year. Despite the increase, and a new prediction of $711 billion in revenues this year, the industry’s profit margin will remain low at 1.8 percent. In 2010, the industry saw a profit margin of 3.3 percent, its highest since 2001 and best since 2007’s profit margin of 2.9 percent. This ye...
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| U.S., France team up to stop fake electronics |
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Monday, June 03, 2013
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An enforcement blitz by U.S. and French Customs officials resulted in the seizure of 480 shipments of potentially harmful counterfeit electronic components, U.S. Customs and Border Protection recently announced. Operation Core Systems, conducted between Nov. 1 and April 30 targeted fake computer and electronic components such as semiconductors, computer networking equipment, hard drives and memory cards that often don't meet performance standards of the original equipment and ha...
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| Commerce finds subsidized Asian shrimp imports |
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Friday, May 31, 2013
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The U.S. Commerce Department has found shippers of certain frozen shrimp in China, India, Malaysia, Thailand and Vietnam receive government subsidies, while those in Ecuador and Indonesia do not. In its China investigation, Commerce preliminarily determined that the sole respondent, Zhanjiang Guolian Aquatic Products Co., Ltd. and its cross-owed affiliates, received a subsidy rate of 5.76 percent. All other producers and exporters in China have also been assigned a preliminary s...
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| U.S., Caribbean countries to boost trade |
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Thursday, May 30, 2013
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Vice President Joe Biden and Haitian President Michel Martelly signed a Trade and Investment Framework Agreement (TIFA) this week in Port of Spain which will provide a forum for bilateral talks to enhance trade and investment and discuss specific trade issues between the United States and the Caribbean Community (CARICOM). The 15 member countries of CARICOM include Antigua and Barbuda, Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, St. Kitts an...
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| U.S. gains upgraded ‘mad cow’ risk classification |
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Thursday, May 30, 2013
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The World Organization for Animal Health (OIE) has upgraded the United States’ risk classification for bovine spongiform encephalopathy (BSE), or “mad cow” disease, to negligible risk. “This is a significant achievement that has been many years in the making for the United States, American beef producers and businesses, and federal and state partners who work together to maintain a system of interlocking safeguards against BSE that protect our public and animal health,” sai...
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| IATA: Global air freight up slightly in April |
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Thursday, May 30, 2013
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Global air cargo activity ticked up in April by 1.4 percent, year over year, after a 2.6-percent decline in March, according to the International Air Transport Association. Capacity rose by 1.2 percent. In the first four months of the year, activity has declined 0.6 percent, year over year, and capacity has basically been flat. “The small improvement in April means that economic conditions have not deteriorated to the point of starting a market contract...
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| U.S. trade with neighbors drops 4% in March |
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Thursday, May 30, 2013
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Trade value among the United States, Mexico and Canada hit $95.6 billion in March, a 4 percent decline from March 2012. Trucks carried 60 percent of the goods traded, with rail accounting for 16.5 percent of the goods moved, vessels taking on 8.1 percent of the cargo, and air transporting just 3.7 percent of the freight. Seven percent of the goods traded moved by pipeline. Trade between the United States and Canada finished March at $54.3 billion, a 2 percent d...
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| More capacity needed for harvest supply chain, ADM official says |
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Thursday, May 30, 2013
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The massive agriculture processor Archer Daniels Midland Co. continues to heavily invest in transportation infrastructure to move commodities around the world and expects governments and its business partners to make similar investments to support the harvest supply chain as the global population grows, according to a key company official. In an address at the Virginia Maritime Association's annual banquet in Norfolk earlier this month, Mark Schweitzer, managing director in...
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| CN to speed up track work for frac sand customers |
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Wednesday, May 29, 2013
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The Canadian National Railway said Tuesday it will accelerate the upgrade of 74 miles of track in Wisconsin to handle growing demand for sand shipments used in hydraulic fracturing of shale formations by oil and gas developers in the Bakken region of North Dakota, Montana, and southern Canada, and elsewhere. The railroad is investing $33 million to install heavier gauge track capable of supporting rail cars weighing 286,000 pounds between Wisconsin Rapids and Blair, which will i...
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| CEVA adds new Mexico services |
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Wednesday, May 29, 2013
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To take further advantage of the increased trade between the United States and Mexico, CEVA has added a bonded trucking program targeted at Mexican importers and a new intermodal service to its U.S.-Mexico Transborder portfolio. “Mexico Direct” will help importers achieve faster customs clearance by combining its ground LTL service on the U.S. side with Mexican in-bond trucking. Cargo destined for Mexican airports is transferred directly from CEVA’s warehouses in Los Angeles in ...
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| Law firm files suit against car carrier operators |
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Wednesday, May 29, 2013
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An antitrust litigation firm based in Houston said it has filed a nationwide class action law suit against some of the world’s largest vehicle shipping companies, alleging price fixing of car carrier services. Susman Godrey filed the vehicle carrier case May 24 in the U.S. District Court for the Middle District of Florida. Car buyers who shipped vehicles manufactured overseas to the United States allege that the defendants conspired to fix shipping prices...
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| U.S. steel imports up 4.2% in April |
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Tuesday, May 28, 2013
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U.S. steel imports increased 4.2 percent in April compared to March, according to preliminary government reporting analyzed by the American Institute for International Steel (AIIS). “Imports increased in April primarily due to an increase in arrivals of semi-finished slab imports for further processing by the domestic integrated industry, suggesting a anticipation of improved conditions in the US market going forward. Imports of rebars posted a decline,” said David Phelps, AIIS ...
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| Progress made toward transpacific trade agreement |
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Tuesday, May 28, 2013
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During a meeting on the proposed Trans-Pacific Partnership (TPP) that ended Friday, attendees worked through e-commerce, rules of origin and other technical and legal barriers to trade. The next round of talks is scheduled for July 15 in Malaysia. U.S. officials and leaders of 10 additional countries also spent the 17th round of transpacific partnership negotiations moved toward a common ground on issues concerning government procurement, dispute settlement and...
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| Food aid reform may be revised |
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Tuesday, May 28, 2013
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President Obama's plans to overhaul food aid by allowing more regional and local purchase of food may be revised because of congressional opposition. An article appearing in on the Website of the Roll Call newspaper on Friday said there is concern by members of Congress from both parties that the planned changes would hurt U.S. farmers and U.S. shipping companies. The newspaper said Sen. Mike Johanns, R-Neb., is working on a smaller package of changes to the food aid program.
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| Carloads down, intermodal up in North America |
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Friday, May 24, 2013
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Total domestic rail activity ticked up 2.6 percent last week compared to the same week last year, reaching 535,835 carloads and intermodal units, according to the Association of American Railroads. Carloads were up 1.9 percent, and intermodal activity saw a 3.5-percent increase. Total domestic traffic of 10.32 million units so far in 2013 represents a 1-percent, year-over-year increase. On the year, carloads are down 1.7 percent, but intermodal units have grown 4.3 ...
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| Cass: Linehaul rates up 2% in April |
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Friday, May 24, 2013
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Truckload linehaul rates rose 2 percent in April, continuing a slow but steady price increase seen the beginning of the year, according to Cass Information Systems. Intermodal only showed a slight bump of 0.3 percent in per-mile costs. Linehaul rates started the year with a 2.4-percent rise, which grew to 3.3 percent in February. Rates were up 2.2 percent in March. While rates are going up, the climb isn’t as steep at the increases seen from February to April l...
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| EU Parliament: Proceed with U.S. free-trade talks |
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Thursday, May 23, 2013
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Members of European Parliament are in favor of starting talks toward the Transatlantic Trade and Investment Partnership, a free-trade agreement between the European Union and the United States, but warn they must be kept apprised of the discussions. In a resolution voted on Thursday, members also said any agreement must protect Europe’s cultural and audiovisual services market, and provide EU firms with access to U.S. public procurement markets. American restrictions on EU suppl...
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| Va. maritime industry to tap military labor pool |
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Thursday, May 23, 2013
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Maritime industry officials in Hampton Roads are discussing how to take advantage of the large military presence in the area to attract people leaving for civilian life to become truck drivers and help the Port of Virginia move containers to and from the docks. The Norfolk area is home to the world's largest naval base, which supports the U.S. Atlantic Fleet. The complex also includes a major naval air station. Oceana Naval Air Station is located nearby in Virginia Beach, and th...
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| Analysis: West Coast port volumes to rise in Q3 |
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Thursday, May 23, 2013
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Loaded inbound volumes at seven West Coast ports will see a 0.9-percent, year over year, decline during the second quarter of the year, ending the period at 2.8 million TEUs, according to Global Port Tracker. In the third quarter, though, volume will increase by 2 percent to 2.99 million TEUs, followed by a 6.6-percent jump, year over year, in the fourth quarter. During the first three months of 2014, volumes are expected to rise by 7.2 percent to 2.75 million TEUs. ...
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| Report: 3PLs see small revenue boost in 2012, similar for 2013 |
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Wednesday, May 22, 2013
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Third-party logistics providers will see 2013 revenues of $148.4 million, an increase of 4.6 percent, according to a recently released report by Armstrong & Associates. Revenues of third-party logistics providers in the United States increased by 6 percent, year over year, in 2012 to $141.8 billion. According to Armstrong & Associates, the compound annual growth rate for the 3PL industry fell by 0.3 percent from 1996 to 2012. The company expects this d...
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| ATA: Truck tonnage down slightly in April |
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Wednesday, May 22, 2013
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Based on data gathered by the American Trucking Associations' members, domestic tonnage fell in April after seeing a rise in March. The ATA’s seasonally adjusted tonnage index ended last month, down 0.2 percent after being up 0.9 percent in March. Compared to last April, the tonnage index rose 4.3 percent, the largest year-over-year gain since January’s 4.7 percent result. In the first four months of the year, truck tonnage is up 4 percent. ...
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| U.S. targets trade buildup in Latin America |
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Wednesday, May 22, 2013
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Acting Commerce Secretary Rebecca Blank last week wrapped up a seven-day trip to Latin America to help drum up business for U.S. companies engaged in infrastructure planning and construction with a speech at the American Chamber of Commerce Panama where she highlighted the importance of trade relations with the Central American nation. Twenty companies specializing in project management, transportation, energy and water resource infrastructure accompanied Blank on her ...
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| Canadian retail sales flat in March |
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Wednesday, May 22, 2013
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Canadian retail sales stayed flat in March at $39.5 billion, according to Statistics Canada. Retail volume rose 0.7 percent over February when price-change effects were removed from the equation. Clothing sales bumped up 3.1 percent, while motor vehicle and parts sales rose 0.7 percent, seeing an increase in activity for the third month in a row. Furniture and home furnishings were up 0.3 percent. Building material sales were basically flat compared to February...
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| U.S. to strengthen trade with Tunisia |
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Tuesday, May 21, 2013
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Officials at the U.S. Agency for International Development have launched an initiative with Tunisia to establish trade in the region and internationally, and encourage the local growth of small and midsized businesses. The Office of the United States Trade Representative helped develop the initiative, which is part of the U.S-Tunisia Trade and Investment Framework. Work between the countries will be achieved through online platforms and partnerships, according to a news release....
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| Drewry Air Freight Index - A slow climb in April |
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Monday, May 20, 2013
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Air freight rates out of Asia are slowly inching back up to February’s yearly high of $3.32 per kilogram, ending April at $3.21 per kilogram, a rise of $0.06 over March’s figure, according to the Drewry East-West Air Freight Price Index . The index measures the average per-kilogram price paid by forwarders to airlines on 21 major East-West routes. Each result factors in the base rate plus any security and fuel surcharges. February’s high-water mark came in $0.32 per kilo...
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| Drewry forecasts more slow steaming |
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Monday, May 20, 2013
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Drewry is predicting an increase in slow steaming by container carriers. "Although slow steaming continues to be a contentious issue with shippers, more is on the way as fuel prices remain stubbornly high and ocean carriers can no longer absorb the bill due to the parlous nature of their finances," the London-based consultant says in the latest edition of its Container Insight Weekly . "Drewry believes that ocean carriers are losing money at present due to the frei...
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| SeaIntel says shippers should prepare for 'blank sailings' |
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Monday, May 20, 2013
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"Blank sailings," which occur when liner companies decide to omit a scheduled voyage are "becoming a regular feature in particularly the Asia-Europe trade," said this week's edition of SeaIntel Sunday Spotlight . "It has always been the norm that a significant amount of sailings are blanked following Chinese New Year. This is prudent capacity management by the carriers in response to the widespread factory closures during this time of the year. However, if we only look at the l...
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| Virginia to open Canadian agriculture trade office |
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Monday, May 20, 2013
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The state of Virginia will open an international trade office in Canada this year to further promote exports of agriculture and forestry products, which hit an all-time high last year, Virginia Secretary of Agriculture and Forestry Todd Haymore recently reiterated. During remarks May 9 at the Virginia Maritime Association's annual banquet in Norfolk, Haymore noted that Gov. Bob McDonnell is the first governor in modern Virginia history to include agriculture and forestry i...
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| Report: China will assist its shipping industry |
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Monday, May 20, 2013
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China will assist its shipping companies to "escape recession" according to a report attributed to the Xinhua news agency . Xinhua quoted He Jianzhong, China's vice minister of transportation, as saying the government would assist companies in several ways, including offering subsidies to encourage retirement of old ships to reduce supply and improve safety. The government will also encourage carriers to sign long-term contracts and "strengthen interference into the...
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| Developer adds California retail distribution space |
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Monday, May 20, 2013
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Port Logistics Group has added two new facilities spanning more than 1.1 million square feet to its retail distribution campus in City of Industry, Calif. The development now boasts more than 2.5 million square feet of space. The first new building, a 350,000-square-foot facility, will house new and existing clients. A 775,000-square-foot development has also been built for three new clients.
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| Shift in wind trade direction at Corpus Christi |
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Monday, May 20, 2013
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Port Corpus Christi says it has been a leading port for imports of wind energy turbine components since 2006, but last week handled components for export for the first time. On Saturday, 35 Mitsubishi wind blades made in Ciudad Juarez in northern Mexico were loaded on a vessel carrier operated by NYK-Hinode. The blades are destined for Japan. “The Port anticipates additional wind cargo export opportunities within the upcoming months,” said John LaRue, ...
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| Group calls for supply chain accountability |
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Friday, May 17, 2013
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A group of investors and stakeholders from more than 115 organizations have banded together under the Interfaith Center on Corporate Responsibility to ask global shippers to ensure the safety and welfare of their workers and to ferret out supply chain abuses. The group has called on shippers around the world to implement International Labor Organization standards at all their facilities and to pay attention to the United Nation’s framework on human rights responsibilities in bus...
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| Ex-Im Bank’s $500 million loan helps Mongolian mine |
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Friday, May 17, 2013
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The U.S. Export-Import Bank has authorized an approximately $500 million direct loan to finance the continued development of a Mongolian mine that, upon completion, will generate about 30 percent of the Mongolian GDP. Additionally, Ex-Im Bank's financing will support about 2,000 U.S. jobs across the United States, according to bank estimates derived from Commerce and Labor department data. The Oyu Tolgoi mine, which is located in the South Gobi region about 550 kil...
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