US Justice Department subpoenaed top management of largest container shipping companies. The world’s biggest container shipper, Denmark’s A.P. Moller-Maersk , Germany’s Hapag Lloyd , Taiwan-based Evergreen, Hong Kong-based Orient Overseas Container Line (OOCL) said their executives were among those who had been subpoenaed. The United States is concerned that the proposed alliances of several major
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Bill Mongelluzzo, Senior Editor | Feb 13, 2017 3:53PM EST Non-vessel-operating common carriers are handling more and more Asian imports to the United States, now nearly 43 percent compared with 29 percent a decade ago, as even the largest container lines are unable to satisfy the needs of their regular customers during periods of peak
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Phillip Inman Economics correspondent Friday 20 January 2017 11.21 EST GDP growth improved to 6.8% but only after a 19% increase in public investment and a lighter touch on real estate borrowing The silver lining in China’s disappointing 2016 growth figures was the pickup in performance at the end of the year. Or so it seems.
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Jan 25, 2017 by Darrell Etherington Amazon has begun shipping products from Chinese merchant partners to its U.S. warehouses via ocean freighters, the Wall Street Journal reports. This is something it used to outsource exclusively, and another piece of the overall shipping and logistics picture that it’s now controlling directly, at least in part. Amazon doesn’t own
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Hanjin Shipping Starts Unloading as U.S. Exporters Scramble for Space Foundering shipping line expects more long-stranded vessels in California while cargo terminal closes door on outbound containers By: ERICA E. PHILLIPS TWSJ As bankrupt Hanjin Shipping Co. unwinds its cargo operations, with the first of its stranded U.S.-bound vessels off-loading containers in Long Beach on Monday,
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By: Greg Bensinger 1/29/16 Amazon.com Inc.’sAMZN -3.51% biggest quarterly profit and Wall Street’s swift punishment for missing expectations overshadowed a trend that is worth keeping an eye on. Shipping expenses rose again in the fourth quarter, and by a wider margin than many analysts expected. Overall shipping costs during the holiday quarter jumped 37% to $4.17 billion,
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