Business
Galveston Wharves Port Director and CEO Rodger Rees said the Gulf port needs an update to its 20-Year Strategic Master Plan, which was adopted in 2019.“The comprehensive plan has been our roadmap for major capital projects to grow our business while managing potential community impacts,” Rees said in a Jan. 16 release.Much has changed in the last five years, including a burgeoning cruise business, rising construction costs and community interests ...
[+]
Drewry, the maritime research and consultancy, said its World Container Index decreased 3 percent to USUS$3,855 per 40-foot equivalent unit, or FEU, the week of Jan. 2.The latest Drewry WCI composite index is 63 percent below the previous pandemic peak of USUS$10,377 in September 2021 ...
[+]
Fleet expansion remains a concern for the container shipping market in 2025 and beyond, said BIMCO, in its latest Container Shipping Market Overview and Outlook.
The international shipping association, which represents 62 percent of the world’s tonnage, saw the supply/demand balance tighten in 2024, as ...
[+]
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. ...
[+]
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 ...
[+]
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 ...
[+]
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 ...
[+]
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 ...
[+]
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 ...
[+]
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 ...
[+]
« Back
More »
