January 2025
The International Longshoremen’s Association, or ILA, and U.S. Maritime Alliance, or USMX, on Jan. 8 reached tentative agreement on all items for a new six-year master contract.Details of the new tentative agreement will not be released to allow ILA rank-and-file-members and USMX members to review and approve the final document, the two sides said in a joint statement.“The two sides agreed to continue to operate under the current contract until ...
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Global logistics services provider GEODIS has appointed Marc Vollet as executive vice president of the European Road Network Line of Business.Vollet will be a member of the management board, which is chaired by CEO Marie-Christine Lombard.Vollet has 30 years’ experience in managing operations and leading international teams at GEODIS. His ...
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The dry bulk market is poised for an upside in earnings as global and regional environmental regulations will reshape vessel supply, according to Drewry’s quarterly Dry Bulk Forecaster.The higher earnings are coupled with higher fragmentation in the freight market as vessel movement will continue to adapt to comply with the ...
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The uptrend in project cargo rates is likely to persist in 2025 due to limited vessel supply and high demand, according to Drewry’s Breakbulk Sea Transport Indices. Meanwhile, general cargo rates are likely to increase more moderately, influenced by regional trade patterns and increased competition from container shipping and dry ...
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The global container ship order book reached a record 8.3 million 20-foot equivalent units, or TEUs, compared with the previous high of 7.8 million TEUs in early 2023, said Niels Rasmussen, chief shipping analyst at BIMCO.As 4.4 million TEUs were contracted during 2024 – the second highest ever – the ...
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Biden Blocks US Steel-Nippon Steel Deal
President Joe Biden has stepped in to block the US$14.9 billion takeover of U.S. Steel by Nippon Steel of Japan, claiming the proposed sale posed a potential national security threat.Merely days before leaving the White House, Biden issued an executive order prohibiting the sale, or ...
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The International Longshoremen’s Association, or ILA, and U.S. Maritime Alliance, or USMX, will reportedly resume talks for a new master contract on Jan. 7, a little more than a week before a contract extension runs out on Jan. 15, according to a report by the Journal of Commerce.The ILA and ...
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Multimodal transportation giant Schneider National Inc. in November entered into a definitive agreement to acquire Cowan Systems LLC and affiliated entities for a cash purchase price of about US$390 million, subject to certain adjustments.The sale includes separate agreements to purchase certain real estate assets relating to Cowan Systems’ business for ...
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Savage, the Salt Lake City-based of supply chain infrastructure and solutions provider, has only the fourth CEO in its 80-year history.Jeff Roberts took the reins Jan. 1, following the retirement of his predecessor, Kirk Aubry. Savage presented its CEO succession plan in June 2024, when Roberts was promoted to president ...
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Mexican President Claudia Sheinbaum on Dec. 20 introduced measures to protect the Mexican textile and apparel industries while addressing compliance challenges under the country’s IMMEX program, according to a report from Sandler, Travis and Rosenberg PA.“These changes represent a significant shift in Mexico’s trade and manufacturing landscape, will result in ...
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