The U.S. Department of Transportation has awarded $220 million in grants to ports in sixteen states and territories. The discretionary grant funding was announced Thursday by U.S. Transportation Secretary Elaine L. Chao. The funding is provided through the Maritime Administration’s (MARAD) Port Infrastructure Development Program. The program "aims to support efforts by ports … [Read more...]
U.S. Imports Surge as Pandemic Worries Have Retailers Stockpiling
By Lisa Baertlein LOS ANGELES, Sept 25 (Reuters) - The Los Angeles-based maker of Exploding Kittens and Throw Throw Burrito board games ordered 1 million extra units from its factory in China with the hope of preventing coronavirus from ruining its Christmas sales. The move from the company, which sells product through Target, Walmart, and Amazon.com, comes as? U.S. … [Read more...]
American Home Shopping Boom Buoys Shipping Lines Across the Pacific
By Kyunghee Park (Bloomberg) -- An online home shopping boom in the U.S. has sent transpacific sea freight rates to the highest on record, helping the container shipping industry in Asia. Exports of household appliances from South Korea to the U.S. jumped 51% in August from the same period a year ago, climbing for a third consecutive month, Korea Customs Service data … [Read more...]
Full Steam Ahead for U.S. Commerce Means Vital Economic Support
By Vince Golle (Bloomberg) -- America’s network for moving goods into and around the country is the busiest in years after being throttled by the pandemic, providing vital support for an economic rebound that’s moderating in other areas. Ports are seeing a flood of container imports while railroads and trucks rush those goods -- as well as domestically produced … [Read more...]
Port of Long Beach Reports Best August Ever Amid COVID-19, Trade War Uncertainty
The Port of Long Beach had its best August in its 109-year history, marking a strong start to the peaking shipping season despite lingering economic uncertainty due to the COVID-19 crisis, the port reported Wednesday. Dockworkers and terminal operators last month moved 725,610 twenty-foot equivalent units (TEUs) of container cargo, a 9.3% increase compared to August 2019. … [Read more...]