Ocean Ports & Carriers: Page 88

Ocean Ports & Carriers

Oakland Port Terminal Files For Bankruptcy

In a Chapter 11 petition filed in U.S. Bankruptcy Court in Delaware, Outer Harbor Terminal, which operates part of the Oakland port, listed both assets and liabilities of between $100 million and $500 million.

Outer Harbor Terminal LLC, which operates part of the Oakland, Calif. port, filed for Chapter 11 bankruptcy protection on Monday, two weeks after terminating its lease held in a joint venture with Ports America.

Ocean Ports & Carriers

Traffic Delays Clog New York And New Jersey Port After Strike

International Longshoremen’s Association (ILA)

About 200 trucks were waiting in half-mile lines outside the gates of the Port Newark Container Terminal and Maher terminals on Monday.

With about 60,000 containers passing through the port’s terminals each week, even small delays can cost retailers, manufacturers and other importers thousands of dollars.

Maersk Line Launches Weekly Shipping Service Between Columbia And Northern Europe

A.P. Moller- Maersk

Using StarCare technology refrigerated containers, which are designed especially to carry bananas over longer distances (up to 45 days); Maersk Line is setting new standards within the containerized controlled atmosphere business.

MaerskLineship 563b80d653edc

CMA CGM Signs Cooperation Pact With Iran Shipping Lines

The agreement, signed during a goodwill visit to Paris by Iranian President Hassan Rouhani, covers capacity sharing, joint route operations, and cooperation in using port terminals, the French government said.

French firm CMA CGM, the world’s third-largest container shipping operator, signed a significant cooperation agreement Thursday with Islamic Republic of Iran Shipping Lines (IRISL), according to Maritime Executive.

Risk/Compliance

Cargo Thieves Plague California Nut Growers And Processors

Port of Los Angeles

Since last fall, truckloads of pistachios, almonds and walnuts have been misdirected and stolen in Madera, Kern, Fresno and Tulare counties.

Lipari Foods, LLC, of Warren, Mich., has issued a voluntary recall of various raw pistachio products packaged by sister company JLM due to potential Salmonella risk

Ocean Ports & Carriers

Expanded Panama Canal Likely To Open In June

Panama Canal Authority (PCA)

Panama Canal Authority Administrator Jorge L. Quijano told the AJOT at an American Association of Port Authorities conference in Tampa "early May or late May, we should be functional, and maybe June for the inauguration."

This is an artist's impression of the Panama Canal Expansion on completion.

Ocean Ports & Carriers

Ports America To Exit Port Of Oakland, Invest Elsewhere

Ports America is active in planning its expansion and investment opportunities in its existing locations at both the Port of Tacoma and the ports of Los Angeles and Long Beach.

Idle cranes at the Port of Oakland.

Ocean Ports & Carriers

Amazon Moves Into Ocean Freight Forwarding

The Seattle retailer registered itself with a federal agency overseeing ocean transportation, a step towards allowing it to serve as an intermediary for suppliers shipping merchandise in or out of the U.S.

A slowdown in Chinese economic growth has hammered the global shipping industry, which exited the Great Recession to take advantage of low interest rates to buy new ships to handle a rising amount of coal, iron ore and consumer goods. But as China’s factories scale back and the economies of Europe and North America gear down, the amount of cargo traversing the oceans has slowed.

Ocean Ports & Carriers

Virginia Port Signs First U.S. Port Trade Agreement With Cuba

Port of Virginia

The recently-opened Mariel Port, just west of Havana, aims to become a major shipping center as larger ships pass through the Panama Canal and use it as a logistical hub.

Governor McAuliffe (third from left, back row) and the Port of Virginia delegation witnessing the signing of MOU between the Port of Virginia and the Cuban National Port Authority.

Presidential Politics Threatens Trans Pacific Partnership Pact

From small freight brokers like Portland, Ore.-based Geo. S. Bush & Co. Inc. to global logistics giants like United Parcel Service Inc., supply chain providers are gearing up for a surge in business they believe the historic agreement will bring to Pacific trade.

Florida: Primed For Perishables

Across the Sunshine State ports and infrastructure are ready for the expansion of the Panama Canal with hopes to become the preferred destination of perishables from the Americas.

An aerial view of PortMiami's recently completed deep dredge project that makes the port the only global trade hub south of Virginia capable of handling post-Panamax ships.

CCM CGM Agrees To Acquire Neptune Orient Lines

CMA CGM, a global leader in container shipping, announced a pre-conditional voluntary general cash offer for Neptune Orient Lines (NOL), Southeast Asia’s largest container shipping company, subject to the satisfaction of the pre-conditions specified in su

CMA CGM has made a preliminary offer for Neptune Orient and is conducting due diligence, though it hasn’t been granted exclusivity, while discussions with Maersk are less advanced, people with knowledge of the matter said before Neptune Orient’s announcement.

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