Thousands of workers brought Panama to a standstill on Tuesday as part of a national 24-hour strike to demand “justice for the poor,” [...]
Shares in Neptune Orient Lines (NOL) yesterday surged to their highest in almost seven months, after the container shipping giant said at the weekend that it is in exclusive talks for a potential acquisition by France’s CMA CGM.
NOL shares rose by as much as 6.25 per cent to S$1.19, the highest intraday level since [...]
From the Los Angeles Times:
A coalition of environmentalists, community groups and Long Beach officials is seeking a court order to halt construction of a controversial $500-million Port of Los Angeles rail yard that they claim will increase pollution in surrounding low-income, minority communities.
During hearings Monday and Tuesday, attorneys representing the group asked Contra [...]
Plagued by overcapacity and ongoing losses, the container shipping industry is rife with talk of potential mergers and acquisitions. The consolidation of the highly fragmented industry is long overdue, especially when contrasted with such other heavily capitalized transportation sectors as railroads and airlines.
The possibility that a new wave of M&A may be imminent was [...]
Iron ore contracts in Asia slumped to records amid speculation that mills in China are reining in steel production as they battle losses, slumping prices and tighter credit, hurting demand for the raw material that’s mainly shipped from Australia and Brazil.
“Steelmakers are going through a very difficult time and a number of them have [...]
A battle among Arch Coal Inc. creditors is intensifying as the miner prepares for a potential bankruptcy filing.
A group of middle-tier bondholders hired law firm Brown Rudnick LLP to help protect their investments as the miner moves toward restructuring its $5.1 billion of debt in court proceedings, according to a person with knowledge of [...]
The San Francisco Port Commission executed a new 20-year lease agreement with BAE Systems for maritime ship repair that will sustain San Francisco’s 150-year tradition of shipbuilding and repair. The agreement includes a provision that could extend shipyard operations through 2045.
BAE Systems San Francisco Ship Repair currently leases the port’s Pier 70 shipyard and [...]
Lineage Logistics, a temperature-controlled warehouse and logistics firm, has broken ground on an expansion of its cold distribution facility in Tacoma, Wash.
The expansion plan calls for the addition of 20,000 pallet positions of frozen warehouse capacity, bringing the company’s total capacity in the Pacific Northwest to more than 93 million cubic feet of temperature-controlled [...]
There is little prospect of a bidding war for Neptune Orient Lines between prospective suitors Maersk Line and CMA CGM as the risks involved in acquiring a loss-making line in a weak market will lean heavily on the sale price, Drewry believes.
However, price will be the sticking point, Drewry said in its Container Insight [...]
The NTSB said Monday it is ending its search and documentation of El Faro, the cargo ship that sunk October 1 near the Bahamas, likely claiming the lives of all 33 on board.
The National Transportation Safety Board did not locate the ship’s data recorder, a critical part of the investigation into why she ship [...]
The Los Angeles Boat of Harbour Commission has approved three grants from the US Department of Homeland Security’s Federal Emergency Management Agency (FEMA) totalling US$1.8m.
The grant will be used to support the Port of Los Angeles’ police security and operations integration initiatives, alongside increasing cyber security infrastructure.
Jill Taylor, homeland security manager at the [...]
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