The New York Stock Exchange has notified Arch Coal that it no longer meets the stock exchange’s minimum price requirement, the coal company said Friday.
The NYSE requires listed common stock to average at least $1 per share for any period of 30 consecutive trading days; if not, the stock is at risk of being [...]
The U.S. Army Corps of Engineers is once again weighing the costs and benefits of a potential $300 million effort to deepen the lower Mississippi River by as much as 5 feet.
The New Orleans Advocate reports the project — which would cover the stretch from Baton Rouge to the Gulf of Mexico — is [...]
Hundreds of union dockworkers are without work during the strike. The union called on the International Transport Workers’ Federation (ITF) and Peruvian authorities to intervene over allegations that APM Terminals was acting illegally and disregarding the risks to health by using seafarers to assist with unloading containers.
The dockers’ strike at Callao port in [...]
Excerpts from a Journal of Commerce article titled ‘Shippers and truckers the losers in demurrage blame game’:
Demurrage and per-diem detention fees at gridlocked U.S. ports have turned into a multimillion-dollar hot potato. Cargo interests, truckers, ocean carriers and marine terminals are locked in noisy, seemingly nonstop argument over responsibility for the fees. It’s a [...]
Long-haul banana trades continue to flourish as consumers in Asia add more of the fruit to their diets.
While container lines gain market share, Ecuador based shipbroker Sopisco argues that specialized liner services could claw back some of the business. Bananas remain a key commodity for specialized reefer carriers and container lines alike, and demand [...]
Maersk Line has announced that it has entered into Vessel Sharing Agreement (VSA) with Mediterranean Shipping Company (MSC) and Mitsui OSK Lines (MOL) on the Asia to East Coast of South America trade.
The news comes days after Maersk Line revealed it had turned in its best-ever first quarter result, with profit up 57.1 per [...]
SAN FRANCISCO, CA (May 22, 2015) – West Coast Longshore workers have overwhelmingly voted to ratify a tentative contract agreement reached in February with employers represented by the Pacific Maritime Association (PMA).
Members of the International Longshore and Warehouse Union (ILWU) voted 82% in favor of approving the new 5-year agreement that will expire [...]
Zim Integrated Shipping Services Ltd. finished the first quarter of 2015 with an $11 million net profit, following a sharp drop in shipping costs, and despite a more moderate decline in its revenue. Zim, which last summer completed a huge debt settlement with its creditors, reported $792 million in revenue from cargoes and related services [...]
In an article titled ‘Port of Portland pushed to kill carbon fee on propane export terminal and save backers millions annually,’ the Oregonian reports on how the Port tried to throw Portland under the bus … Or in this case, the rail-clogging Canadian propane train:
Even as community opposition mushroomed to a proposed propane export [...]
A coal train heads north through the site of the former Georgia-Pacific mill on the Bellingham waterfront. File photo from the Bellingham Herald.
The company that would build a coal terminal at Cherry Point told a federal agency it needs more time to respond to a tribe’s request to shut down the project.
Seattle-based SSA [...]
In a May 20 article titled ‘Petitions filed to recall Vancouver port commissioners Oliver, Wolfe,’ the Columbian’s Aaron Corvin follows an excellent investigative series that includes the following excerpts:
In recall documents filed Tuesday, Vancouver resident Christopher Clifford accuses Port of Vancouver commissioners Jerry Oliver and Brian Wolfe of malfeasance, misfeasance and violation of the [...]
From the Los Angeles Business Journal
Port of Long Beach Chief Executive Jon Slangerup said the fleet would not compete with private companies that own truck chassis and service the twin ports. Rather, he said, it would complement them and ensure there are enough chassis to go around during peak port activity. Photo from [...]
Excerpts from The Loadstar:
CMA CGM posted a net profit for Q1 2015 of $406m, against the $103m achieved in Q1 2014. CMA CGM appears to have been much quicker off the blocks to take advantage of its Ocean Three alliance vessel sharing agreement with CSCL and UASC, than Danish rival Maersk Line has in [...]
Faced with sliding domestic demand for coal, the governor of Wyoming has kept pressing for access to deep-water ports in the Northwest that would allow exports to Asian markets.
Wyoming Gov. Matt Mead met Monday with Washington Gov. Jay Inslee in Olympia and plans to meet Tuesday with Oregon Gov. Kate Brown.
Many in the [...]
Excerpts from KOMO News:
Shell’s giant oil rig parked at the Port of Seattle has outraged plenty of people, but at least one group is very glad the rig pulled in.
“It’s huge for the local economy,” said Gail McCormick with the Inlandboatmen’s Union of the Pacific. The entire local Shell project will employ an [...]