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Keyword: shipping

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  • Why All Protectionists Are Essentially Luddites

    02/07/2017 4:56:55 AM PST · by Tolerance Sucks Rocks · 169 replies
    Foundation for Economic Education ^ | January 24, 2017 | Donald J. Boudreaux
    It’s well-known among people who bother to learn the facts that U.S. manufacturing output continues to rise despite the reality that the number of Americans employed in jobs classified as being in the manufacturing sector peaked in June 1977 and has fallen, with very few interruptions, ever since.Nevertheless, some people – for example, the Economic Policy Institute’s Robert Scott – continue to insist that the loss of manufacturing jobs in the U.S. is largely due to increased American trade with non-Americans. Other studies find empirical evidence that labor-saving innovation rather than trade is overwhelmingly responsible for the loss of manufacturing...
  • FedEx offers group discount to NRA. Predictable liberal freakout follows

    12/20/2016 2:29:49 PM PST · by Kaslin · 16 replies
    Hot Air.com ^ | December 20, 2016 | JAZZ SHAW
    First the good news for all of you NRA members. (I include this because I didn’t even know about it, so perhaps you didn’t either.) Federal Express is offering a shipping discount for all of us! That’s really nice of them. It’s one of only many partnership deals you can receive. FedEx and the NRA Business Alliance have teamed up to offer BIG savings on FedEx Express® and FedEx Ground® shipping, FedEx Freight® services and FedEx OfficeSM services. Simply enroll in the FedEx Advantage® program using passcode FVMK8W13 or call 1-800-475-6708 for more information.Enrollment is free and there are no...
  • Native Americans after 'easy money' in pipeline fight

    12/14/2016 10:37:40 AM PST · by Jeff Chandler · 37 replies
    Washington Examiner ^ | 11/21/16 12:01 A | JOHN SICILIANO
    The Standing Rock Sioux tribe has claimed that the project has encroached on its land, damaged sacred sites and would potentially harm a major source of their drinking water by going under Lake Oahe. [snip] But what continued to throw a wall up in the discussions was the tribe's demand to receive a fee for shipping the oil. "Even though the pipeline never crosses the Standing Rock Sioux reservation, [snip] "But time and again the tribe rebuffed or ignored the company's offers demanding, instead, a toll on the crude that passed through the pipeline, an ultimatum that showed the tribe's...
  • Drowning Hanjin may not be alone among global shippers

    09/10/2016 9:52:13 AM PDT · by Lorianne · 12 replies
    Japan Times ^ | 04 September 2016
    The problems that sank South Korea’s Hanjin Shipping last week could be just the tip of the iceberg, with the long global downturn leaving the industry burdened by excess capacity. With growth refusing to budge and consumer demand still slack, the world’s freight carriers have more ships than they can fill — a quarter of cargo space lies empty. That has led to fierce price cuts and cut-throat competition, badly impacting the bottom lines of some of the giants of the seas. Those problems played out last week when Hanjin, the world’s seventh-largest shipping firm, filed for bankruptcy in Seoul,...
  • "Tremendous Ripple Effects" - Retailers Demand Bailout After Hanjin Collapse Paralyzes Trade

    09/05/2016 2:00:06 PM PDT · by Lorianne · 30 replies
    Zero Hedge ^ | 02 September 2016 | Tyler Durden
    When we first reported about the imminent paralysis of an unknown number of global supply chains and a potential shock in worldwide trade as a result of the historic bankruptcy of Hanjing Shipping, one of the world's largest container shipping companies which handles 8% of Trans-Pacific trade volume for the US market, we concluded that "the global implications from the bankruptcy are unknown: if, as expected, the company's ships remain "frozen" and inaccessible for weeks if not months, the impact on global supply chains will be devastating, potentially resulting in a cascading waterfall effect, whose impact on global economies could...
  • "It's Bordering Chaos": $14 Billion In Cargo Stranded At Sea, Crews "Go Crazy" On Hanjin Ghost Ships

    09/08/2016 4:45:48 PM PDT · by dynachrome · 30 replies
    Zero Hedge ^ | 9-8-16 | Tyler Durden
    But while manufactured cargo can survive indefinitely, crews on ships can not, and as Hanjin ships drift at sea, their crews face increasing uncertainties and diminishing supplies. “We usually have food and water for about two weeks,” said the captain of a Hanjin-operated ship speaking by satellite phone from the South China Sea. But, after 12 days at sea, “everything is getting tight—food, water and fuel,” he said.The captain added that he is rationing water and cutting back air conditioning to save energy. “The heat is driving the crew crazy,” he said. His ship was carrying lubricants and home appliances...
  • Kenya Commissions New Mombasa Container Terminal

    09/04/2016 1:04:00 PM PDT · by rockinqsranch · 13 replies
    gcaptain/Reuters ^ | September 4, 2016 | Joseph Akwiri
    Kenya on Saturday inaugurated the first part of a new container terminal at Mombasa which is expected to boost by 50 percent the volume of cargo handled by East Africa’s largest seaport.
  • Global Supply Chains Paralyzed After World's 7th Largest Container Shipper Files Bankruptcy

    09/01/2016 6:23:59 AM PDT · by Enlightened1 · 28 replies
    Zero Hedge ^ | 08/31/16 | Tyler Durden
    South Korea's biggest shipping firm, announced the filing for receivership and a request to the court to freeze its assets, which the Seoul Central District Court planned to grant, a judge told Reuters. As part of the company's insolvency process, the court will now decide whether Hanjin Shipping should remain as a going concern or be dissolved, a process that usually takes one or two months but is expected to be accelerated in Hanjin's case, the judge said. A bankruptcy for Hanjin Shipping would be the largest ever for a container shipper in terms of capacity, according to consultancy Alphaliner,...
  • The shipping industry sinks as global trade slows

    08/31/2016 9:31:00 PM PDT · by Olog-hai · 17 replies
    Marketplace Business News ^ | August 31, 2016 | 11:12 AM | Ashley Milne-Tyte
    Today a big Korean shipping company called Hanjin declared bankruptcy. It may be far away, but that move is a testament to an industry in trouble. Volume is way down all over the world as trade remains sluggish. Add to that the fact that just as demand wanes, a whole load of new vessels come online, and there’s a problem. Shipping hit a crisis in 2008 as demand for goods plunged. It’s never fully returned. John Butler is CEO of the World Shipping Council. He said after the financial crisis, when oil prices were spiking, “There was an expectation that...
  • Are Cruise Ships Prepared for ISIS?

    08/07/2016 12:45:40 PM PDT · by MtnClimber · 45 replies
    Cruise Law News ^ | 3 Aug, 2016 | Jim Walker
    Are cruise ships prepared for the threat of terrorism? As I have contended for a long time, in my opinion no. Cruise lines are still calling on dangerous ports. They are still sending passengers on unescorted shore excursions in buses without armed security personnel. Cruise ships can't prevent terrorists from overpowering their unarmed security guards on most cruise ships and running up the gangways. (Some European cruise lines, like Costa, have weapons). Few lines are conducting anti-terrorist drills. The rare anti-terrorism training drill conducted by local and federal agencies are not even conducted on cruise ships. Few lines have installed...
  • U.S. rail traffic down 7.9 percent in July

    08/05/2016 3:52:17 PM PDT · by Jack Hydrazine · 17 replies
    ProgressiveRailroading.com ^ | 5AUG2016 | Staff writer
    U.S. railroad traffic in July fell 7.9 percent to 2,027,768, carloads and intermodal units, compared with traffic volume in July 2015, the Association of American Railroads (AAR) announced this week. Total carloads in the month declined 8.8 percent to 1,025,367 units, compared with the same period last year. Railroads also transported 1,002,401 containers and trailers last month, down 6.9 percent compared with a year ago. Four of the 20 carload commodity categories tracked by AAR posted increases during the month. They included grain, up 15.3 percent or 12,641 carloads; waste and nonferrous scrap, up 25.9 percent or 3,400 carloads; and...
  • High Cancellations Hurt July Class 8 Truck Orders

    08/05/2016 3:59:46 PM PDT · by Jack Hydrazine · 13 replies
    TruckingInfo.com ^ | 3AUG2016 | Staff Writer
    It looks like July was another off month for Class 8 truck orders as industry analysts are predicting some of the lowest numbers since 2010, according to preliminary numbers from ACT Research and FTR. FTR is predicting Class 8 truck orders will come in at around 10,400 units while ACT Research is projecting 10,500 units for the month. Both forecasts are well below July 2015 orders and mark one of the weakest months since 2010. Compared to June, orders were down 19%, which FTR attributed to higher than normal order cancellations in the month. “Usually there are a low number...
  • WTOC Investigates: Abandoned Ship

    07/20/2016 6:05:22 AM PDT · by Gamecock · 19 replies
    WIS TV ^ | Jun 19 2016 | Elizabeth Rawlins
    Just six miles off the coast of Tybee Island is an abandoned ship with its crew still on board. The boat has been anchored at sea for months after the company that owned the vessel defaulted on the loan. The Newlead Castellano was arrested by U.S. Marshalls when it was making a sugar delivery at Imperial Sugar on April 19. Similar to what happens when a bank forecloses on a home if a company doesn't make payments on their vessel, the creditor then repossesses the ship. According to an attorney on this case, the company in default is Newlead, a...
  • The Amount Of Stuff Being Bought, Sold And Shipped Around The U.S. Hits The Lowest Level In 6 Years

    06/24/2016 2:39:40 PM PDT · by blam · 26 replies
    TEC ^ | 6-23-20165 | Michael Snyder
    Michael Snyder June 23rd, 2016 When less stuff is being bought, sold and shipped around the country with each passing month, how in the world can the U.S. economy be in “good shape”? Unlike official government statistics which are often based largely on projections, assumptions and numbers seemingly made up out of thin air, the Cass Freight index is based on real transactions conducted by real shipping companies. And what the Cass Freight Index is telling us about the state of the U.S. economy in 2016 lines up perfectly with all of the other statistics that are clearly indicating that...
  • Economy Threatened By Aging of Michigan's Soo Locks

    04/14/2016 5:54:31 AM PDT · by MichCapCon · 10 replies
    Michigan Capitol Confidential ^ | 4/10/2016 | Jarrett Dieterle
    The Detroit Free Press reported last month that it obtained, via a Freedom of Information Act request, a U.S. Department of Homeland Security report finding that a six-month closure of the Poe Lock in Sault Ste. Marie, Michigan could trigger a nationwide recession. While the report does a good job of highlighting the economic costs of a Poe Lock closure, it notably ignores options like privatization and a user fee system that could provide the necessary funding. The report, a copy of which we have received from the Free Press, warns of scenarios in which a Poe Lock closure could...
  • Crude Congestion

    04/13/2016 7:47:58 AM PDT · by mac_truck · 16 replies
    Reuters ^ | 4/13/2016 | Graphics Dept
    Huge traffic jams of tankers have formed around the world with some 200 million barrels of oil either waiting to be loaded or delivered as ports struggle to cope with record volumes in perhaps the most visible sign of the global oil glut. Almost all of the over 660 Very Large Crude Carriers (VLCCs), the largest tankers in use to transport seaborne oil, are used to ship crude between the Middle East and Asia’s consumption hubs around India and the Far East. The map above shows all of these super tankers in operation on April 11. The icon on the...
  • World's Biggest Containership "Hard Aground" As Baltic Dry Crashes Below 300 For First Time Ever

    02/05/2016 1:04:48 AM PST · by blam · 54 replies
    Zero Hedge ^ | 2-5-2016 | Tyler Durden
    Tyler DurdenFebruary 5, 2016) Before this year the lowest level The Baltic Dry Index had reached was 556 in August of 1986 and the highest was in June 2008 at a stunning 11,612. Today saw the freight index hit a new milestone however, crashing through the 300 barrier for the first time ever - at 298, this is almost 50% below the previous record low.Commodities obviously are saying something very different from "the market"...> And as Dana Lyons notes, of course much of the input into the BDI comes from the price of raw materials. Considering the deflationary spiral in...
  • Senator McCain sets crosshairs on Jones Act build requirement (again)

    02/01/2016 8:18:47 AM PST · by prisoner6 · 9 replies
    gCapitan via Boatnerd.com ^ | January 30, 2016 | Mike Schuler
    1/31 - Once again U.S. Senator John McCain [R-AZ] has his crosshairs set on the Jones Act with an amendment he intends to attach to a proposed energy bill that would eliminate the U.S. build requirement for tankers involved in U.S. coastwise trade. McCain hopes to attach the amendment to bill S. 2012, also known as the Energy Modernization Act of 2015, which seeks to provide for the modernization of the energy policy of the United States, and for other purposes. The submitted amendment from McCain would change section 12112 of title 46 of the United States Code (46 U.S.C....
  • VIDEO: Baltic Ace Wreck Cut Up and Removed from North Sea

    01/22/2016 7:08:01 PM PST · by artichokegrower · 13 replies
    gCaptain ^ | January 20, 2016 | Mike Schuler
    On December 5, 2012, the car carrier Baltic Ace sank in the North Sea with more than 1,400 cars on board after a colliding with a containership near the entrance of the main shipping channel leading to port of Rotterdam, claiming the lives of 11 crew members.
  • Heard of the Baltic Dry Index? Analysts warn 70% crash of key world trade barometer...

    01/16/2016 7:26:39 AM PST · by 444Flyer · 42 replies
    The Daily Mail ^ | 1-16-16 | Hugo Duncan
    "A key barometer of world trade has crashed to a record low in a worrying sign the global economy is grinding to a halt. The so-called Baltic Dry Index, which measures the cost of shipping raw materials such as coal, iron ore and grain, has fallen nearly 70 per cent since August to its lowest level since its introduction in 1985. The slump – which analysts said showed 'global trade is really suffering' as the outlook worldwide darkens – fuelled fears that the economy is heading for the rocks. It came on another bruising day for investors as worries about...