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The Port of San Diego said President and CEO Joe Stuyvesant and board Commissioner Rafael Castellanos resigned from their respective positions on Jan. 29.Stuyvesant, who had served in his role since February 2021, was placed on administrative leave by the seven-member San Diego Board of Port Commissioners in July 2023 pending an internal investigation. The public agency’s board haven’t discussed action, and an attorney for Stuyvesant threatened litigation, according to ...
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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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Liner carrier Hapag-Lloyd, which recently announced the Gemini Cooperative with A.P. Moller - Maersk, reported a significant decrease in earnings in its 2023 financial year.Group EBITDA was US$4.8 billion, compared with US$19.4 billion for fiscal 2022, which the company attributed to lower freight rates due ...
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The Port of New Orleans Board of Commissioners voted Jan. 18 to expedite the St. Bernard Transportation Corridor, a roadway for St. Bernard Parish that will connect the new US$1.8 billion Louisiana International Terminal (LIT) to the interstate system.The board authorized Port NOLA President and ...
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The Port of New Orleans said it has been awarded a federal grant for an additional US$226.2 million towards the building of the Louisiana International Terminal, or LIT.The U.S. Department of Transportation awarded the funding through the competitive grant program for Infrastructure for Rebuilding America ...
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Despite a strong December, container volumes handled at Port Houston in 2023 fell 4 percent to 3.8 million TEUs, short of the port’s record-setting year in 2022.The decrease was attributed to a large drop in empty repositioning volumes, the port said, while its strong exports ...
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A.P. Moller Maersk held a naming ceremony for the Ane Maersk, the world’s first large methanol-enabled container vessel, at the HD Hyundai Heavy Industries shipyard in Ulsan, South Korea.The Ane Maersk is the first of 18 large-methanol-enabled Maersk vessels to be delivered through 2025. It ...
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Enstructure, a U.S. marine terminal and logistics company, has agreed with the Jacksonville Port Authority to lease and develop 79 acres of waterfront property at JAXPORT’s Tallyrand Marine TerminalEnstructure is parent company of Jacksonville-based Seonus Stevedoring, a JAXPORT tenant for 27 years, that operates 35 ...
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The U.S. Federal Maritime Commission will hold an informal public hearing on Feb. 7 to examine how conditions in the Red Sea and Gulf of Aden regions are impacting commercial shipping and global supply chains.The FMC is seeking input from supply chain stakeholders on how ...
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