United States gross domestic product increased 1.2 percent in second quarter 2016, according to the “advance” estimate from the Department of Commerce, following a revised increase of just 0.8 percent in the first quarter.
Rates from Shanghai to Northwest Europe, which hold a 20 percent weight on the overall index, skyrocketed 57.8 percent since last week, from $713 per TEU to $1,125 per TEU.
The Dubai-based port terminal operator signed a 30-year lease with Port Saint John on the East Coast of Canada to operate its West Side Container Terminal, DP World and port officials said in a joint statement Thursday.
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The terminal operator has joined a group of Nova Scotia business leaders and investment company Cyrus Capital Partners L.P. in plans to build 315-acre marine container terminal on the Strait of Canso.
The massive $5.3 billion project comes with “considerable safety concerns,” which could lead to accidents and delays for shippers and higher claims for insurers, according to a new report from the London-based risk management consultancy.
Ocean carriers MSC, Hapag-Lloyd, Hamburg Sud and UASC will be shaking things up on the Europe-Middle East/ISC trade.