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A report from the Working Group for the Fiscal and Economic Recovery of Puerto Rico, established by Governor Alejandro García Padilla, said a Jones Act exemption would "reduce transportation costs and increase competitiveness."
Mid-size importers are not likely to shift cargo from the West Coast of the United States to East Coast ports because it is cost prohibitive, according to logistics expert Stephen Craig.
The U.S. Department of Commerce’s Bureau of Economic Analysis revised a previous prediction of a 3.7 percent annual growth rate in second quarter gross domestic product to a 3.9 percent increase.
TOTE says "While this reflects that the ship was caught in rough seas and extreme weather, it is in no way indicative of the ship’s fate."
Rep. Stephen Fincher, R-Tenn., introduced a bill that would restore Ex-Im Bank’s operations and include various reforms, but will require a "discharge process" to reach the House floor for a vote.
The company’s minority investment in e-commerce specialist Ally Commerce Inc. is more about research than revenues, according to Rimas Kapeskas, head of UPS’s strategic enterprise fund.