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Hanjin Shipping Company Ltd. will not be building a $300 million container shipping terminal at the Port of Jacksonville, Jacksonville Port Authority Interim CEO Roy Schleicher said Thursday morning. Weakness in the economy caused the project’s demise, not the 47-foot dredging depth planned for the St. Johns River shipping channel, which Jaxport voted to pursue [...]  Korean President Lee Myung-bak’s recent trip to Norway and Greenland is seen as largely influenced by Korea’s ambitions to become a major player in the Arctic. Theoretically, the northern seaway offers enormous reduction in cost and shipping time in the long run. It usually takes about two weeks to travel 6,500 sea miles between [...] The icebreaker Xuelong, or Snow Dragon, arrived in Iceland this week after sailing the Northern Route along the coast of Russia. The thaw is slowly opening up the Arctic as a short-cut route – the German-based Beluga Group, for instance, sent a cargo vessel north from Korea to Rotterdam in 2009. An icebreaker has [...] STX Group announced recently that it had formed a business partnership with Nonghyup Feed Co. in Portland, Oregon, to import U.S. corn for about one year starting November 2012. The partnership contract states that STX will be responsible for shipping about 700,000 tons of U.S. corn to Korea for livestock feed. The corn will be [...] STX Group, Korea’s 14th-largest business group, said Thursday that it is considering selling assets to revive its worsening financial health amid the ongoing slowdown in the shipbuilding industry globally. “As part of our financial restructuring, we are discussing plans to directly list STX Energy and STX Heavy Industries or to sell off assets through [...] A proposed Morrow County project gained Umatilla County support Wednesday. Commissioners Larry Givens and Dennis Doherty agreed to have the county write the U.S. Corps of Engineers in support of the Morrow Pacific project, a coal transfer and loading facility at the Port of Morrow. The commissioners gave the thumbs up after a presentation by [...] The following news release was issued this morning by EGT and ILWU. Download a pdf of the original document here. Longview, Washington – Today officials from EGT, LLC and the International Longshore and Warehouse Union (ILWU) announced the scheduled arrival of the first export vessel at the EGT terminal on Tuesday, February 7. The ship’s [...]
AJC reports that ‘Manufacturers have moved some production overseas to avoid the damage inflicted by the strong yen, a trend that has accelerated in recent years. Some economists say the trade balance will be in the black again within two years, but the era of very large surpluses that allowed Japan to build a [...] From OPB News: Officials at the Port of Portland say they’re about to start shipping Ford automobiles to Korea. Portland has imported vehicles from Asia for years. This year, the port plans to export up to 10-thousand Fords to Korea. … The Port’s draft transportation improvement plan calls for an expansion of the auto-shipping terminal [...] From a CHS news release: CHS Inc., the nation’s leading cooperative, has announced it has opened an office in Seoul, South Korea, intended to strengthen business with that nation’s growing customer base. CHS also has international marketing offices in Argentina, Brazil, Bulgaria, Canada, China, Hong Kong, Hungary, Jordan, Romania, Russia, Serbia, Spain, Switzerland and [...] The Sierra Club is bringing its anti-coal campaign to Spokane Thursday, urging local residents to oppose terminals at Washington seaports that would ship coal to Asia. Coal producers are seeking permits to build terminals near Bellingham and Longview to ship up to 130 million tons of coal mined in Wyoming’s Powder River Basin to China, [...] Congress — if you listen to pundits and Washington politicians — is completely broken. But when multinational corporate interests are at stake, suddenly the institution figures out how to get to work. On Wednesday, both chambers passed three sweeping trade agreements with bipartisan majorities, against the opposition of labor unions worried about job losses that [...] STX Group Chairman Kang Duk-soo … is one of the most talked-about businessmen in Korea after STX became the nation’s 14th-biggest conglomerate within a decade through continuous mergers and acquisitions (M&A). Now Kang is preparing to strike another mega deal and this time his target is a semiconductor business, Hynix Semiconductor would be the group’s [...] With the Korea-EU Free Trade Agreement now in effect, Korea’s manufacturing sector is set for a significant rise in exports to the region. The pact, formally signed in October, went into effect on July 1. As a result, tariffs placed on 11,261 items produced in Korea and 9,842 items produced in the EU will be [...] Popular Korean actress Kim Yoh-jin was among the activists recently detained for supporting the union's strike, including crane striker Kim Jin-suk. Hanjin is shifting production to non-union and Philippine labor. A six-month strike at a South Korean shipyard has ended, the company said Monday, but a female labour activist had not yet abandoned a [...] |
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