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Punta Colonet is 150 miles south of the U.S. border. Mexico’s ministry of transport and communications has announced a restructuring of the Punta Colonet project to better reflect the changed global economic realities, which have culminated in a steep contraction of global trade. … At least four port expansion projects have been deferred or cancelled [...]  Gantry crane unloading bulk grain from hold. No one doubts that the [dry bulk] market has shrunk and times will be tough for the near future, but most of the market feels that the bottom has been reached and a slow rise has begun. The CEO of Hong Kong’s biggest commodity ship operator stated [...] Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight rates, according to shipbroker R.S. Platou ASA. Bulk-shipping rates have tumbled 78 percent from a record last year as growth in the global fleet outpaces China’s demand for iron ore and coal shipments. … [...] New export figures show Northern California may be recovering from the recession faster than Southern California. Shipping from Southern California ports and Los Angeles International Airport was down sharply from August 2008. By contrast, more exports moved from the Port of Oakland and San Francisco’s airport than during the same month last year. … Statewide, [...] Mexico’s Secretary of Communications and Transport Juan Francisco Molinar Horcasitas said today the new near-term target for the Punta Colonet mega-port will be to handle up to one million containers (TEUs) per year, a figure “viable in light of declining Pacific ship traffic.” This is down from the original target of 2 million/year. From Punta Colonet, October 9, 2009 The U.S. trade deficit unexpectedly narrowed in August as exports posted a small gain. … The fourth straight rise in exports was an encouraging sign that the global economy has started to recover from a severe recession that began in the United States and quickly spread to other parts of the world. But many economists [...] The Port of Tacoma commission and Executive Director Tim Farrell met Thursday to discuss what Farrell called “a transition in leadership at the port.” … The commission plans to meet again regarding Farrell on Oct. 19. The port chief instigated the conversation following last week’s announcement that the port cancelled its plans to build a [...] |
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