The new president immediately put the world on notice that his administration will combat unfair trade practices, which many interpret as a return to protectionism.
Just 10 percent of longshoremen requested by terminal operator employers came to work on Friday, bringing vessel operations to a near standstill at the Northern California port, according to port spokesman Mike Zampa.
Chaos in the ocean shipping industry has led to a winter of shippers’ discontent as freight transportation managers scramble to determine how carriers will meet their transportation requirements after several carrier mergers and acquisitions took place.
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Drewry’s investment research arm said it believes CMA CGM of France is best positioned among the major carriers to be a perfect suitor for Orient Overseas (International) Limited, the parent company of Hong Kong-Based OOCL.
Although some shippers are hesitant on using foreign trade zones (FTZs) due to compliance burdens, the benefits of FTZs may be worth the effort.
The Global Shippers’ Forum and the World Shipping Council square off on whether regulation of the container industry needs to be tightened.