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The Port of Rotterdam Authority signed an agreement with the Medan, Indonesia-based port company to conduct a feasibility study on the construction of a new deep water port in Kuala Tanjung.
The U.S. Department of Commerce's Bureau of Industry and Security imposed a $3.5 million penalty on Streit USA of South Carolina, its UAE-based affiliates, and two corporate officers.
A new whitepaper by American Shipper, in collaboration with the Virginia Maritime Association, tackles some of the thorny problems behind cargo delays at key U.S. ports.
Saverco NV, a controlling shareholder of Antwerp-based cargo ship and aircraft lessor CMB, will seek to purchase all outstanding shares of CMB.
Rates from Shanghai to Northwest Europe and the Mediterranean have increased dramatically in the past two weeks, but rates from Shanghai to the United States have fallen three weeks in a row.
Weak trade has limited growth opportunities for airfreight carriers, but trade is expected to improve in the second half of the year, according to the International Air Transport Association.