Mediterranean Shipping Co., announced last week that they are forming an accord with CMA CGM SA, which is the world’s third largest container shipping group. Mediterranean Shipping Co. is forming the accord to try and avoid some of the damage from the current slum in the global shipping industry.
A study done by the New York Shipping Association has shown a 3.5% increase in job generation at the United States Port of New York and New Jersey. This increase happened between 2008 and 2010 and it is great news for the shipping industry.
Quinenco, S.A. announced a purchase of $1 billion in shares of CSAV. Quinenco, S.A. is one of the largest conglomerates in Santiago Chile. They are worth approximately $50 billion and own companies in manufacturing, beverage, and financial service businesses.
The National Retail Federation released statistical findings last week regarding this year’s past and projected cargo traffic in the major commercial ports of the U.S.
Shipping Containers lost at sea pose many disadvantages, including economic loss, safety hazards, and environmental damage. Units that are lost overboard can float just below the surface for years. This poses a threat to other ships traveling through the area. These units can also leak hazardous contents into the ocean, disturbing wildlife.
The Chief Executive Officer of DP World, Mohamed Sharaf, announced recently “DP World has delivered a very strong performance in the second quarter of the year, resulting in over 26 million portable storage containers handled for the first six months of the year.”
There was good news in the US shipping industry and the US economy as a whole. There was news that New Jersey Port might be adding 800 new jobs resulting from a $500 million dollar deal. The deal will involve a 20 year extension of existing lease. The extension would go to 2050. It would …
The Shipping industry is a very good indicator for the health of the US economy and that of the entire world. The world is more connected now than ever and the world’s economies are all linked by the sale and transfer of goods from one country to another. So that is why looking to the …
Rail can be more efficient The rising fuel prices are causing U.S. companies to use an increasing amount of intermodal shipping. Diesel prices have risen by 32% in the United States in the last year. To streamline shipment of goods between modes of transport from ship to train to truck, companies are using storage containers.
The portable storage containers industry continues to feel the impact of increasing demand on the units. Domestic demand in the United States is increasing. This is a result of growing demand internationally as shipping and commerce pickup around the world.