Business
Port Houston closed 2024 as one of its most successful years to date, handling 3.8 million 20-foot equivalent units, or TEUs, through November, a 9 percent increase over the same period last year.
November volumes alone reached 369,361 TEUs, a 24 percent increase year-over-year. This marks the biggest month of the year for Port Houston in terms of containerized cargo volume.
Loaded imports rose by 19 percent in November, ...
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The Port of Houston Authority Commission highlighted 2024 results at its Dec. 10 meeting, including an update of the ship channel expansion, known as Project 11.
Segment 1B of the project saw dredging recently completed and final reviews of the work underway by the ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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