By Gavin van Marle (The Loadstar) - Container terminal operators are facing higher risks than at any time in the industry’s history, according to a new report. And Container Terminals: Paths to Profitability suggests future investment by operators and investors will need to be more carefully considered than ever before. The 221-page report by industry veterans Remco … [Read more...]
U.S. Retail Imports Expected to Surge Ahead of December Tariffs, NRF Says
Imports at the nation’s major retail container ports are expected to hit their highest level of the year again next month ahead of new tariffs set to take effect in December, according to the Global Port Tracker report released Wednesday by the National Retail Federation and Hackett Associates. New 15 percent tariffs that took effect at the beginning of September on a wide … [Read more...]
Port of Southampton Enters Into UK’s First ‘Port Economic Partnership’
The UK government and the Port of Southampton have teamed up to launched the UK's first Port Economic Partnership (PEP), a way of creating stronger links between ports and government in order to long-term trade and economic growth. For the partnership, the UK Department for Transport (DfT) will work with ABP's Port of Southampton to focus on leveraging public and private … [Read more...]
Business of Shipping: Trade Dispute Helps Lift Volumes at Ontario’s Port of Thunder Bay
By Ira Breskin THUNDER BAY, ONTARIO-- The deepwater port here will modestly increase volume this year by offering shippers attractive transit options for international cargo displaced by trade disputes. “With disruptive trade patterns, we win because the lack of alternatives,” said Tim Heney, the port’s chief executive, during a recent interview. In 2019, Thunder Bay … [Read more...]
Record Throughput at Port of Savannah
The Port of Savannah moved a record 4.5 million TEU in its fiscal year ending June 30, an increase of more than 305,000 TEUs or 7.3 percent compared to the previous year, Georgia Ports Authority (GPA) said Tuesday. The increase in throughput was boosted by an uptick in rail cargo. "Our ports are firing on all cylinders," said Governor Brian Kemp. "This success is a … [Read more...]