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Ocean carrier APL will launch a new service between North Asia and the West Coast of the United States Nov. 1 that will feature some of the most competitive transit times in the trade.
The 60 percent drop in oil prices in the past year has hurt some sectors of the U.S. economy and tamped down growth, according to Thom Albrecht, transportation analyst at BB&T Capital Markets.
Capacity growth was relatively stagnant across the three major east-west trades in the third quarter of 2015, as slowing global trade and an economic recession in China caused volumes to remain weak even during the summer peak shipping season.
Industry advisors to the Commerce Department are calling on the government to get involved much sooner when contract talks between dockworkers and terminal operators diminish port productivity.
A group of Republican House lawmakers on Friday exercised a rarely used “discharge petition” to gather enough support to force a vote on the chamber floor to reauthorize the U.S. Export-Import Bank.
The legislation (HR 702) also includes a provision to increase funding for the 60 ships in the Maritime Security Program from $3 million to $5 million.