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Genco Shipping and Trading Clarifies Change In Ticker Symbols

PR Newswire | November 17, 2014 | Liner Shipping

BB. Genco’s common stock will trade under the ticker symbol “GSKNE” and its warrants will trade under the ticker symbol “GNKWE” for one day, November 17, 2014. Read More »

Premium Article  Energy sector boom stimulates breakbulk surge at Gulf ports

Paul Scott Abbott | November 17, 2014 | Ports & Terminals | Ports | Break Bulk Port

Energy sector boom stimulates breakbulk surge at Gulf ports

Led by increasing steel volumes and a dynamic project cargo sector, breakbulk activity is surging at docks throughout the U.S. Gulf region. Read More »

Record growth continues at Georgia’s ports

AJOT | November 17, 2014 | Ports & Terminals | Ports

The Georgia Ports Authority announced today that its terminals in Brunswick and Savannah moved a combined 2.79 million tons of freight in October, a record for the authority. Read More »

Government of Canada transfers three public port facilities to Strathcona Regional District

PR Newswire | November 16, 2014 | Ports & Terminals | Ports

On behalf of the Honourable Lisa Raitt, Minister of Transport, Dr. James Lunney, Member of Parliament for Nanaimo—Alberni, announced the transfer of ownership of three public port facilities to the Strathcona Regional District. Read More »

TransPacific lines prepare to apply congestion charges at US West Coast ports

AJOT | November 16, 2014 | Liner Shipping

A number of container lines operating between the U.S. and Asia say they intend to implement congestion charges of up to $1,000 per 40-foot container (FEU) for cargo moving via U.S. West Coast ports, effective November 17, 2014, in response to labor-related terminal delays. Read More »

Putin berates US over sanctions before G20 meeting

Reuters | November 16, 2014 | International Trade

President Vladimir Putin accused the United States of undermining the very trade institutions it created by imposing sanctions on Russia, a "mistake" he hoped would be overcome in the "final count". Read More »

US trade groups seek White House help on West Coast port dispute

Reuters | November 16, 2014 | International Trade

Representatives from major U.S. manufacturing and shipping trade groups met with White House officials this week to ask for a federal negotiator to intervene in a months-long labor dispute that has slowed West Coast ports ahead of the holiday season, according to sources present at the meeting. Read More »

Poor weather in China curbs SABMiller profit

Reuters | November 16, 2014 | International Trade

Brewing giant SABMiller reported weaker-than-expected profit and a dip in margins for the first half of its fiscal year, citing poor weather in China and intensified competition among retailers in Australia. Read More »

China new vehicle sales grow a sluggish 2.8% in October

Reuters | November 16, 2014 | International Trade

China's auto market grew at a sluggish pace of 2.8 percent in October, with U.S. and European carmakers expanding solidly at the expense of Japanese rivals. Read More »

US confirms duties on Chinese steel wire rod imports

Reuters | November 16, 2014 | International Trade

The U.S. Department of Commerce confirmed steep duties on imports of carbon and alloy steel wire rod from China after ruling the products were being sold below cost in the U.S. market and received unfair levels of government subsidies. Read More »

US data points to strong spending ahead of holiday shopping frenzy

Reuters | November 16, 2014 | International Trade

U.S. retailers reported strong sales in October, a sign American consumers were spending with more gusto and could help keep the economy growing at a brisk pace. Read More »

India-US deal revives WTO and hope of world trade reform

Reuters | November 16, 2014 | International Trade

India and the United States settled a dispute that had paralysed the World Trade Organization and risked derailing a $1 trillion package of reforms of global customs procedures. Read More »

WTO sees global trade pact within two weeks

Reuters | November 16, 2014 | International Trade

The World Trade Organization said on Friday there was a "high probability" that a major deal on streamlining global customs rules will be implemented within two weeks after India and the United States overcame a key impasse. Read More »

Rise of protectionism in China a threat to commodities imports

Reuters | November 16, 2014 | International Trade

As China lobbies world leaders to back its free trade plan at an Asia-Pacific summit this week, businesses are complaining about Beijing's use of non-tariff barriers from customs clearance to quality restrictions to curb raw material imports. Read More »

Japan exports seen rising in October, but lacking momentum

Reuters | November 16, 2014 | International Trade

Japan's exports are set to rise for a second straight month in October but at a slower pace than the previous month, a Reuters poll showed, placing a doubt over whether the weak yen has brought about a full-fledged recovery in export growth. Read More »

Konecranes extensive forklift fleet targets the steel industry

AJOT | November 16, 2014 | Ports & Terminals

Konecranes extensive forklift fleet targets the steel industry

Konecranes, a leading global manufacturer of lifting equipment, has been providing heavy material handling solutions to the steel industry since the 1950’s. Konecranes advanced lifting technologies have made them a preferred supplier in steel mills and steel service centers worldwide. Read More »

New York Harbor tug boat captains and crews, Staten Island ferry workersvote to join new union

AJOT | November 16, 2014 | Ports & Terminals

New York-area watermen who operate tugboats, dredges, tourist boats and ferries, members of Staten Island-based Local 333, have voted by an overwhelming margin to support a merger between Local 333 and the Maryland-based International Organization of Masters, Mates and Pilots. Read More »

Longshore Union slowdowns continue in advance of critical holiday shopping season

AJOT | November 16, 2014 | Ports & Terminals

Union continues slowdowns in Seattle and Tacoma, walks off job in Oakland and refuses to dispatch hundreds of skilled workers in Los Angeles and Long Beach Read More »

OW Bunker collapse to shake up world’s largest ship fuel market Singapore

Reuters | November 16, 2014 | Ports & Terminals

The collapse of OW Bunker in the wake of an alleged fraud at its Singapore trading unit will shake up the city state's more than $25 billion marine fuel market, the world's largest, as major companies expand and small ones shrink amid a credit squeeze. Read More »

ICTSI 2014 net income up 5% to US$135.7 million

AJOT | November 16, 2014 | Ports & Terminals

International Container Terminal Services, Inc. (ICTSI) reported unaudited consolidated financial results for the first nine months of 2014 posting revenue from port operations of US$779.2 million, an increase of 25 percent over the US$624.7 million reported for the same period last year, Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of US$326.1 million, 14 percent higher than the US$285.5 million generated in the first nine months of 2013, and net income attributable to equity holders of US$135.7 million, up five percent over the US$128.8 million earned in the same period last year.  Diluted earnings per share for the period was four percent higher at US$0.056 from US$0.054 in 2013.  Read More »

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