Registration takes less than 1 minute.
The Transpacific Stabilization Agreement's 15 members plan a $1,200-per-FEU rate hike on Asia-U.S. West Coast trade Jan. 1 and want a minimum rate of $1,700 per FEU to the U.S. West Coast in 2016-17 contracts.
With a lack of preference cargo, carriers that move international cargo are exiting the U.S. flag; fleet has shrunk from 106 to 78 in past four years.
The acceptance period for FedEx Corp.’s recommended public purchase offer for TNT Express until Jan. 8, 2016 was extended because the deal has not yet been approved by the relevant antitrust authorities, according to a joint statement from the companies.
Industry groups said they are willing to work with the port to speed cargo through POLB, but expressed concern about how the plan might affect shippers, who want to pick up containers faster but say getting chassis and trucking capacity can be difficult.
U.S. Agriculture Secretary Tom Vilsack said at the conclusion of the JCCT meeting Monday that China indicated it will review 11 biotechnology applications and continue the dialogue on U.S. beef.
Port of Miami Terminal Operating Company, the only non-carrier affiliated terminal, saw its volumes double to 22,225 TEUs, the largest percentage gain among the three container terminals at the South Florida port.