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China Merchants, CHEC invest in $601 mln Sri Lanka port project

Reuters | September 16, 2014 | Ports & Terminals

Two of China’s largest port operators and engineering firms have agreed to invest in a $601 million terminal in Sri Lanka’s Hambantota port, part of a series of deals signed during a visit by President Xi Jinping to the island nation. Read More »

USDA chief says urged Buffett to ready BNSF for record crops

Reuters | September 16, 2014 | Intermodal

U.S. Agriculture Secretary Thomas Vilsack met with Warren Buffett last week to urge the billionaire investor to make sure his BNSF railroad is ready for an expected record corn and soy harvest this year. Read More »

FedEx units to raise shipping rates from January

Reuters | September 16, 2014 | Transport Intermediaries

FedEx Corp, the world’s No.2 package delivery company, said it would increase shipping rates for its express, ground and freight services, effective Jan. 5, 2015. Read More »

Mexican, Turkish rebar producers argue against US duties

Reuters | September 16, 2014 | International Trade

U.S. producers of steel rebar undercut each other on price and are not hurt by imports from Mexico and Turkey, foreign firms told the U.S. International Trade Commission on Monday as they fought a push to slap duties on their steel. Read More »

Google launches $105 Android One

Reuters | September 16, 2014 | International Trade

Google Inc launched in India a $105 smartphone, the first device from its "Android One" initiative which is aimed at boosting sales in key emerging markets through cheaper prices and better quality software. Read More »

Gilead signs hepatitis C pact to cut drug cost for poor

Reuters | September 16, 2014 | International Trade

U.S. drugmaker Gilead Sciences Inc has licensed its hepatitis C drug Sovaldi to seven India-based drugmakers that will sell far cheaper versions of the $1,000-a-pill medicine in 91 developing nations. Read More »

ArcelorMittal, Gerdau to sell U.S. joint venture to Nucor

Reuters | September 16, 2014 | International Trade

ArcelorMittal, the world's largest steel maker, and Brazil's Gerdau announced they would sell their 50-50 joint venture Gallatin Steel to U.S. producer Nucor for $770 million. Read More »

Heineken’s snub to SAB revives beer deal speculation

Reuters | September 16, 2014 | International Trade

SABMiller's rejected bid for smaller brewer Heineken has revived talk about deals that could reshape the global beer industry in coming months. Read More »

EU asks WTO to rule on dispute with Russia over exports of vans

Reuters | September 16, 2014 | International Trade

The European Union wants the World Trade Organization to rule on its dispute with Moscow over tariffs on vans exported from the EU to Russia, the WTO said. Read More »

Euro zone trade surplus rises in July on growing exports

Reuters | September 16, 2014 | International Trade

The euro zone's trade surplus rose year-on-year in July as exports grew faster than imports, pointing to a positive contribution to economic growth at the start of the third quarter, the European Union's Statistics office data showed. Read More »

Ukraine parliament ratifies landmark agreement with EU

Reuters | September 16, 2014 | International Trade

Ukraine's parliament ratified a landmark agreement on political association and trade with the European Union, the rejection of which last November by then President Viktor Yanukovich led to his downfall. Read More »

Russia to honor all agreements with EU, Ukraine on trade

Reuters | September 16, 2014 | International Trade

Russia will honor all its agreements with the European Union and Ukraine, but will trigger "protective measures" if a trade pact between the two comes into force early, Prime Minister Dmitry Medvedev was quoted by RIA news agency as saying. Read More »

China regulator questions Toyota Lexus division over parts pricing

Reuters | September 16, 2014 | International Trade

China's price regulator has summoned executives from Toyota Motor Corp over pricing policies and practices for spare and replacement parts at its luxury Lexus division, people with direct knowledge of the matter said. Read More »

Reform paralysis, slow progress cloud Shanghai free trade zone project

Reuters | September 16, 2014 | International Trade

A disappointing first year for Shanghai's much-hyped free-trade zone, seen as a pet project of Premier Li Keqiang and billed as a reform laboratory, raises questions about China's commitment to opening up its markets as it wrestles with a slowing economy. Read More »

Toyota pauses on Mexico expansion to review growth strategy

Reuters | September 16, 2014 | International Trade

Toyota Motor Corp is reconsidering a move to open a new compact car assembly plant in Mexico after company President Akio Toyoda told planners searching for a site to pause and review its rationale, executives familiar with the matter said. Read More »

Russia’s Global Ports H1 net profit rises 30% y/y

Reuters | September 16, 2014 | Ports & Terminals

London-listed Russian ports operator Global Ports said its first-half net profit rose 30 percent year-on-year, helped by the acquisition of rival NCC in December 2013. Read More »

CAGTC members win big in TIGER VI

AJOT | September 16, 2014 | Intermodal | Ports & Terminals

The US Department of Transportation (USDOT) announced that 72 projects will receive a total of $600 million from the sixth round of the Transportation Investment Generating Economic Recovery (TIGER) program. Of these, 12 Coalition for America’s Gateway and Trade Corridor (CAGTC) member projects were awarded a total of $135 million for projects with full costs exceeding $490 million. Read More »

Port of Everett’s Chief of Engineering & Planning selected to Transportation Improvement Board

AJOT | September 16, 2014 | Ports & Terminals

Washington State Department of Transportation Secretary Lynn Peterson has appointed John Klekotka P.E., the Chief of Engineering & Planning at the Port of Everett, to represent public ports on the Transportation Improvement Board. Read More »

Portsmouth Marine Terminal reopens; terminal receiving trucks, first vessel due in early October

AJOT | September 16, 2014 | Ports & Terminals

Portsmouth Marine Terminal reopens; terminal receiving trucks, first vessel due in early October

The Port of Virginia marks an important milestone as Portsmouth Marine Terminal (PMT), closed for nearly three years, reopens to cargo operations. Read More »

New service between Rijeka and Far East Rijeka is 1st port of call  

AJOT | September 16, 2014 | Ports & Terminals

New service between Rijeka and Far East Rijeka is 1st port of call  

When CMA CGM announced that it has signed three agreements with China Shipping Container Lines (CSCL) and the United Arab Shipping Company (UASC), it effectively created new connections between Rijeka and the Far East. Read More »

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