Breakbulk News

Expansion into Port Houston solidifies Enstructure's position as one of the largest North American bulk and breakbulk terminal operators

LOGISTEC Stevedoring Inc., a subsidiary of LOGISTEC Corporation, ("LOGISTEC"), a leading North American marine and environmental services provider, announced today that it has entered into a definitive agreement to acquire the Canadian and U.S. marine terminal business of Fednav, including Federal Marine Terminals, Inc. and the logistics division, Fednav Direct (collectively, "FMT"), for a purchase price of US$105 million, subject to customary adjustments. This transaction will allow LOGISTEC to strengthen its presence in Canada and the United States and add specialized expertise to its service offering.

The White House’s supply-chain envoy said the ports and logistics industry must move toward automation, a sticking point in protracted contract talks between US West Coast dockworkers and their employers.

Tesla Inc.’s plan to build a new assembly plant in Mexico is a clear sign the country will be a center for electric-vehicle making, even as the US tries to bolster domestic, union-based manufacturing with the Biden administration’s Inflation Reduction Act.