Crowley Logistics is opening of a new, walk-up retail shipping service centre in South Florida to better serve consumers shipping small parcel and retail cargo to Puerto Rico, the Caribbean and Central America.
Panama’s Minister of Maritime Affairs Jorge Barakat and the United States’ Maritime Authority Administration (MARAD)’s Admiral Mark. H. Buzby, have inked a major maritime transport co-operation agreement in Washington D.C.
Like a weary boxer, the Capesize freight market crumbled just before the knockout blow of escalating US - China tension.
The Baltic Dry Index (BDI) started last week on a firmer footing despite the trade tensions between US, China and Turkey that waned investors’ confidence.
Many things have changed since 1973, when the 1st edition of “The Business of Shipping” was published by the Cornell Maritime Press (now part of Schiffer Publishing). The 9th edition of this commercial classic was launched in July 2018,10 years after the previous edition, authored by Ira Breskin- a one-time transportation reporter who is now a teacher at the highly regarded SUNY Fort Schuyler- the New York maritime academy.
The tide of the US as a net importer of oil continues its reversal, with the latest announcement from Enterprise Products Partners LP (EPD). The energy “mid-streamer” said that it was in the final stages of evaluating an investment in a terminal in the US Gulf that could load VLCCs, for export.
The downturn in the offshore services market has driven a combination of two US domiciled players, with Tidewater acquiring GulfMark Offshore in a shares for shares (all-stock) deal, as has been recently reported here.
With the ratcheting of the trade war between the US and China the fallout is being seen on the transpacific container trade with a 6.7% cut in capacity.
Cosco Shipping Holdings is to sell the Overseas Orient International Ltd's (OOIL) Long Beach Terminal business to satisfy the requirments of the Committee on Foreign Investment in the United States (CFIUS) in its takeover of the Hong Kong-based container line.