The new president immediately put the world on notice that his administration will combat unfair trade practices, which many interpret as a return to protectionism.
Just 10 percent of longshoremen requested by terminal operator employers came to work on Friday, bringing vessel operations to a near standstill at the Northern California port, according to port spokesman Mike Zampa.
Chaos in the ocean shipping industry has led to a winter of shippers’ discontent as freight transportation managers scramble to determine how carriers will meet their transportation requirements after several carrier mergers and acquisitions took place.
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The Federal Maritime Commission said Friday it concluded its review of the proposed OCEAN Alliance, allowing the new ocean carrier alliance to take effect Monday, although it is not expected to commence operations until around April 2017.
Fellow Japanese ocean carrier “K” Line exited the Transpacific Stabilization Agreement Aug. 19, while MOL, the other major ocean carrier based out of Japan, left the group in 2008.
Total deal value and volume in the transportation and logistics industry in third quarter 2016 fell 30 percent and 11 percent, respectively, from the previous quarter, according to a new report from PricewaterhouseCoopers.