South Korean shipyards exited the business of making cranes a decade ago because of stiff compeitition from Chinese makers.
Trucking industry executives visited the White House Thursday afternoon to talk about issues that affect their businesses.
Negotiations between the United States and European Union on the Transatlantic Trade and Investment Partnership free trade agreement may still be on the table despite assumptions to the contrary, according to a report from Agence France-Presse.
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On a bright note, the port authority said it will be using a $1.6 million grant awarded by the U.S. Maritime Administration to improve the barge program that transports containers between Red Hook in Brooklyn and Port Newark.
Ocean freight rate benchmarking platform Xeneta said transpacific rates have been gradually rising since April, stripping out the short-term impact of Hanjin Shipping’s insolvency in late August.
Based on trends from the last two years, growth in containership capacity will continue to outpace demand in the next few years despite record ship scrapping so far in 2016, according to a recent report from the Boston Consulting Group.