Matson, Inc has entered into a private placement agreement pursuant to which Matson expects to issue $75 million of 30-year senior unsecured notes. The Notes will have a weighted average life of approximately 13 years and will bear interest at a rate of 3.92 percent, payable semi-annually, the company said in a press release.
The Toronto Star reports that ”an audit by Canada’s environment commissioner in 2014 noted the area has been ‘inadequately surveyed and charted,’ with some Arctic maps dating back to the early 1970s. Canadian coast guard data indicates that between 2002 and 2013 there were about 100 small, mostly oil and gasoline spills in the [...]
High-level talks to forge a 12-nation trade deal spanning the Pacific broke up Friday without resolving contentious disputes over Canadian dairy tariffs, the protection of cutting-edge drugs known as “biologics” and Japanese access to the North American automobile market.
Negotiators said they would continue to seek agreement over the coming months, but the failure to [...]
The biggest shipping company serving Hawaii will end its molasses operation in the state and pay millions of dollars as compensation for spilling 1,400 tons of the sugary substance in Honolulu Harbor.
State Attorney General Doug Chin on Wednesday called the $15.4 million settlement with Hawaii-based Matson Navigation Co. one of the largest for an [...]
ITF news release
The ITF (International Transport Workers’ Federation) is challenging Hutchison Ports Holdings (HPH) over its behaviour at port facilities in Indonesia and Australia.
In Australia Hutchison Ports Australia (HPA) stands accused of using automation and forced redundancy to get rid of union members. In Indonesia HPH is aiming to take on a [...]
From The Loadstar:
Another attempt to lift US cabotage restrictions was dismissed yesterday, when a court in Hawaii ruled against a class action brought by shippers against legislation which prohibits foreign companies from carrying US domestic cargo on ships.
Judges dismissed the action on the grounds that the claim was too broad to be able [...]
If U.S. shippers feel less pain when it comes time to pay freight bills this year, they can thank the worldwide oil glut. With the third quarter under way, the very significant impact of the collapse in oil and fuel prices over the past year on U.S. freight transportation is clear.
By July 20, U.S. [...]
Los Angeles-Long Beach is moving slowly toward a dual system of drayage in which some drivers are becoming unionized employees, while others prefer to remain independent contractors. Eventually, the result could be a sufficient pool of drivers to serve the 13 container terminals in the largest U.S. port complex, resulting in service and pricing consistency [...]
Lori Ann Farrell Harrison succeeds Doug Drummond as Commission President.
The Long Beach Board of Harbor Commissioners elected Lori Ann Farrell Harrison as its new Board President on Monday.
The five-member Harbor Commission, which oversees the Port of Long Beach, also selected Lou Anne Bynum as Vice President and Tracy Egoscue as Secretary. The Commission [...]
Photo from Matson’s web site offering service to Alaska. Matson has earmarked more than USD 30 million to invest in new equipment planned by Horizon prior to its acquisition.
U. S. carrier Matson, Inc. is pushing ahead with its plans to fund improvements in its new Alaska operations following its acquisition of Horizon Lines’ [...]
Activists who fear genetically modified ingredients could present safety hazards in the food supply have waged a successful campaign to pressure multiple states to enact GMO labelling laws. But the DARK Act and TPP could undo all the hard work of food safety activists.
It’s called the Safe and Accurate Food Labelling Act of 2015, [...]
Funding for the installation of shore power facilities for container vessels at two Port Metro Vancouver container terminals has been announced by the Canadian government and Port Metro Vancouver officials.
Shore power reduces emissions by allowing vessels to draw power from the local electrical grid and thereby turn off their diesel engines while in port. [...]
In an article titled ‘Arch Coal’s future gets darker,’ the Wall Street Journal reports:
The combined value of Arch and rivals Peabody Energy Corp. and Alpha Natural Resources Inc. is barely $400 million. Other miners have filed for bankruptcy protection, a fate likely to befall some more.
Big Coal is at once a faint shadow [...]
BBC photo from Saturday’s event at the Suez Canal.
The first trial operation of the new Suez Canal started Saturday morning, with six large ships crossing in both directions, Youm7 reported.
The trial operation aims to assure that the canal allows ships with different sizes and drafts to sail.
The executive agency that manages [...]