The bankruptcy of Hanjin Shipping Company will have long-term disruptions within the global supply chain and freight rates for imported containers to the United States may rise as much as 54%, according to one report.
Commercially approved carriers provide the backbone of service for the Department of Transportation (D.O.T.) and the Department of Defense (D.O.D) U.S. Transportation Command. They serve Jones Act trade routes and play an important part in moving material and equipment when U.S. Flag Carriage is required. What’s happening in the industry?
California’s recently announced Sustainable Freight Action Plan calls for truck, rail and waterborne transportation to dramatically reduce carbon emissions by 2030, and will require California to “accelerate public investments” in the maritime, trucking and rail sectors, according to the Pacific Merchants Shipping Association (PMSA).
A major corporate leadership change has been announced at Fednav Limited, Canada’s largest ocean-going dry bulk shipowning and chartering group as well as operator of 12 terminals on the Great Lakes, St. Lawrence River and the East and Gulf coasts.