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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 port and U.S. Army Corps of Engineers. The Houston Pilots will soon be able to safely navigate two-way traffic in the newly widened Galveston Bay ...
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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 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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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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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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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 ...
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The U.S. economy in November displayed resilience amidst a transitioning monetary policy and external disruptions but faced ongoing challenges in housing affordability, labor market cooling, and inflationary stickiness, according to the latest ITS Logistics Supply Chain Report.Growth prospects also remain modestly positive, with fiscal and ...
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Estes Express Lines and R+L Carriers affiliate Ramar Land Corp. said they will pay US$192.5 million for eight owned properties and four leased terminals from the administrators of Yellow Corp., the bankrupt less-than-truckload carrier.Estes will pay US$142.5 million for seven owned and four leased terminals ...
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Singapore-based carrier Ocean Network Express, or ONE, will join Ocean Alliance members CMA CGM, COSCO Shipping Lines, Oriental Overseas Container Line and Evergreen Line in three North Europe Transatlantic services, effective from February 2025.
“Combining our collective fleet deployment and market experience to provide a comprehensive ...
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Global mid-market business leaders are relatively optimistic for 2025, despite seeing a recession as a foregone conclusion, according to a survey by U.S. accounting firm Moss Adams LLP.The 2024 Mid-Market Report, which targets owners and CEOs of businesses reporting US$50 million to US$500 million in ...
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