The maritime information provider and creator of the famed Baltic Dry Index will work closely with shipbrokers and end-users to create new freight rate benchmarks and indices to be launched later this year, according to Baltic Exchange CEO Mark Jackson.
The Trump administration has nominated Richard Ashooh of New Hampshire as the assistant secretary of export administration in the Commerce Department’s Bureau of Industry and Security.
The Philadelphia Regional Port Authority has rebranded the Northeast U.S. port to PhilaPort in wake of increased investments and port expansions.
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Monitoring by the U.S. Federal Maritime Commission, however, shows individual ocean carriers within each vessel sharing alliance continue to "independently and vigorously compete on pricing," according to Acting FMC Chairman Michael Khouri.
Certain provisions of the merger agreement would have "jumped the gun" by allowing NYK, MOL and "K" Line to share competitively sensitive information or prematurely combine, according to the Federal Maritime Commission.
Port congestion issues in early 2015 brought the often chaotic process surrounding detention and demurrage fees into sharp focus, but where where shippers saw pesky and sometimes unfair ad hoc charges, technology providers saw an opportunity.