Business
Eight months after the Brownsville Navigation District Board of Commissioners, or BND, broke ground on the Port of Brownsville’s business park, prospective businesses are lining up to negotiate lease agreements with the port.At a regular board meeting Feb. 7, the board unanimously approved leasing rates for the business park, aiming to attract sustainable, high-quality companies to the port.The port’s Engineering and Facilities Maintenance departments have completed several construction milestones in-house ...
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Port Canaveral has added a second mobile harbor crane to its landside cargo operations, significantly expanding the port’s ability to handle an increasingly diverse cargo platform.The 320-foot-tall Liebherr LHM 600 evo 6 mobile harbor crane joins the Liebherr LHM 600 evo5, which was placed into ...
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Amidst third-quarter losses, Japanese shipping and logistics company NYK Line anticipates the Red Sea crisis giving lift to its bottom line in its fiscal fourth quarter.NYK Line reported a net loss of US$1.04 billion for its third quarter ending Dec. 31, down US$5.18 billion from ...
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The Mississippi State Port Authority said Feb. 1 it reached a long-term lease agreement between the Port of Gulfport and CORE X GULFPORT that will include constructing a 150,000-square-foot cold storage facility.The lease agreement has an initial term of 60 years with two 15-year renewal ...
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The Georgia Ports Authority saw record volumes through its Port of Brunswick, while a flurry of investments should yield stronger container volumes at the Port of Savannah in 2024.The Port of Brunswick handled a record 775,565 units of autos and machinery in the port’s 2023 ...
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BIMCO, one of the largest international shipping association for shipowners, has established a subcommittee to work on a global standard contract for the transport and installation of offshore wind turbines.The project aims to support the offshore wind industry as global demand for renewable sources of ...
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BIMCO expects the dry bulk market to remain steady through 2025, according to the shipping association’s January Dry Bulk Shipping Market Overview and Outlook.The dry bulk market will look much like 2023 in each of the next two years, BIMCO said. Supply is expected to ...
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Multipurpose vessel operator Swire Shipping said Westwood Shipping Lines, a niche vessel operator acquired in June 2022, has integrated and has taken on the Swire Shipping name.Westwood Shipping operates between the Pacific Northwest and Northeast Asia, and Swire Shipping’s acquisition was part of the Singapore-based ...
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Ocean freight shipping rates are expected to increase further in February amid the ongoing Red Sea crisis, according to data from Xeneta, the ocean freight rate benchmarking platform.However, there are signs that rates could begin to fall again following the Lunar New Year peak, the ...
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Singapore-based shipping line Ocean Network Express, or ONE, reported a sharp downturn in revenue, earnings and profit for the most recent quarter.The shipping line saw a third-quarter loss of US$83 million, a significant decrease from the year-earlier quarter’s profit of US$2.79 billion. Revenue fell 46 ...
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