International Longshoremen's Association President Harold Daggett said he will seek help from Congress in union disputes with the South Carolina Ports Authority and the Waterfront Commission of New York Harbor.
The air cargo services provider posted a net income of $41.5 million for the full year in 2016 after reporting losses in two consecutive quarters as expenses related to a deal with e-commerce giant Amazon dragged on earnings.
The state Board of Public Works gave the Maryland Port Administration the go ahead to spend up to $92.5 million to acquire a 103-acre parcel at Point Breeze for Port of Baltimore’s Seagirt Marine Terminal, a spokesperson for the MPA confirmed Friday.
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Global trade in 2016 was sluggish, as import volumes and global container throughput dipped, but the negligible dip in global trade was accompanied by radical shifts in freight pricing.
Danish ocean carrier Maersk Line said the acquisition of Hamburg Süd would boost its share of the world container fleet from 15.7 percent to 18.6 percent, and increase its capacity from 3.14 million TEUs to 3.76 million TEUs.
Drewry research conducted on behalf of software provider CargoSphere found that forwarders spend about $500 million a year on ocean freight rate acquisition and management.