A spokesperson from Hyundai Merchant Marine (HMM) told American Shipper the loop is expected to commence April 2 from Laem Chabang, operating with seven, 6,800-TEU vessels supplied by HMM.
The Berkshire Hathaway-owned Class I freight railroad will pay $50,000 in civil penalties related to a March 2015 crude oil train derailment in Galena, Ill., according to a statement from Illinois Attorney General Lisa Madigan.
Additional shippers and logistics companies have expressed support on a call for the Federal Maritime Commission to provide guidelines on detention and demurrage charges.
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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.
Although some shippers are hesitant on using foreign trade zones (FTZs) due to compliance burdens, the benefits of FTZs may be worth the effort.