Transportation Infrastructure Marine Ports and Services

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  • CHICAGO, Feb 1- Outer Harbor Terminal LLC filed for Chapter 11 bankruptcy protection on Monday, two weeks after terminating its lease held in a joint venture with Ports America. Last month, Ports America, one of the largest marine cargo operators in the country, said it was shifting its business from the Oakland port to other cities along the West Coast, including...

  • New rail link to Maine waterfront could revive port Sunday, 31 Jan 2016 | 1:30 PM ET

    PORTLAND, Maine— Freight trains are rolling through New England carrying the first-ever shipping containers loaded on the Portland waterfront. Stuck at the end of the nation's supply line, Maine has struggled with higher transportation bills, which make manufacturing less competitive and increase costs for consumers. The LePage administration has been...

  • NEW YORK, Jan 29- Operations at New York and New Jersey's cargo terminals were being restored on Friday night after more than a thousand longshoremen walked off the job earlier in the day, shuttering one of the United State's busiest port networks, officials said. The work stoppage came as a surprise because "there were no major issues that we knew of to precipitate...

  • Jan 21- The suspension of production at an eastern Canadian mine may lead Potash Corp of Saskatchewan Inc to shelve plans to build a new West Coast shipping terminal with partners Mosaic Co and Agrium Inc, Potash Chief Executive Jochen Tilk said on Thursday. The decision allows Canpotex to "indefinitely defer" a decision on the C $900 million Prince Rupert...

  • CHICAGO, Jan 15- Two cargoes of Argentine wheat were scheduled to arrive at port in Wilmington, North Carolina, shipping data showed on Friday, indicating a rare situation where U.S. buyers actually find it cheaper to purchase imported grain than abundant domestic supplies. Argentina's wheat prices tumbled last month after the country devalued its peso and...

  • COPENHAGEN, Jan 8- Rates for shipping containers from ports in Asia to Northern Europe fell by 24.4 percent to $932 per 20- foot container in the week to Friday, a London- based container derivative trader with access to data from Shanghai Shipping Exchange told Reuters. The spot freight rates for transporting containers, carrying anything from flat-screen TVs...

  • Pension funds such as the Canadian Pension Plan Investment Board and sovereign wealth funds such as China Investment Corp, the Abu Dhabi Investment Authority and the Kuwait Investment Authority have already invested in Australian assets and could be prominent players in the new government sales. "There's a massive amount of money looking for yield," said...

  • SINGAPORE, Jan 6- U.S. soybean futures edged lower on Wednesday, giving up some of last session's gains as forecasts of record exports from Brazil and a lack of demand for U.S. shipments weighed on the market. Brazil will likely export a record 57 million tonnes of soybeans in 2016, with new northern ports shipping most of the 4 million tonnes increase from last year,...

  • HAVANA, Jan 4- Virginia's port authority will become the first U.S. port operator to sign a cooperation agreement with its Cuban counterpart, in an effort to increase trade and establish direct service with Cuba, Virginia's governor said on Monday. "As Cuba and the United States normalize relationships, we'd like to see the Cuban companies establish Virginia as...

  • *China Merchants Group to acquire Sinotrans& CSC. The deal, reported by financial magazine Caixin in November, places China Merchants assets worth an estimated 624 billion yuan and Sinotrans& CSC assets worth about 109 billion under the same roof. China Merchants' business includes ports, shipping and financial services, while Sinotrans& CSC is involved in...

  • Houston- based pipeline group Enterprise Products Partners LP said in a statement it will provide pipeline and marine terminal services to load a 600,000- barrel cargo of domestic light crude oil scheduled for the first week of January. "We are excited to announce our first contract to export U.S. crude oil, which to our knowledge may be the first export cargo of...

  • ENTERPRISE PRODUCTS PARTNERS SAYS HAS AGREED TO PROVIDE PIPELINE, MARINE TERMINAL SERVICES TO LOAD FIRST EXPORT OF CRUDE OIL PRODUCED IN THE U.S.

  • RIO DE JANEIRO, Dec 7- The controlling shareholders of Brazilian port operator Prumo Logistica SA are planning to delist the company in a public offering that could be worth more than 800 million reais, according to a securities filing on Monday. Prumo's board also approved the appointment of José Magela Bernardes as interim chief executive following the...

  • WASHINGTON, Dec 7- The United States is temporarily easing trade restrictions on Myanmar by allowing all shipments to go through its ports and airports for six months, an effort to boost the Southeast Asian country's opposition party after its landmark election win in November, U.S. officials said on Monday. To bolster Myanmar's transition to democracy after...

  • WASHINGTON, Dec 7- The United States is temporarily easing trade restrictions on Myanmar by allowing all shipments to go through its ports and airports for six months, an effort to boost the country's opposition party after its landmark election win in November, U.S. officials said on Monday. The trade relief, coming after democracy champion Aung San Suu Kyi's...

  • 'Shipping industry has been trying for meaningful consolidation'

    Rahul Kapoor, director at Drewry Financial Research, discusses the outlook for the shipping sector.

  • What does the South China Sea mean to China? Sunday, 22 Nov 2015 | 6:18 PM ET
    What does that South China Sea mean to China?

    Richard Harris, chief executive of Port Shelter Investment Management, says China's move into the region is "clearly military" and "a geopolitical move."

  • Troubled shipping sector faces consolidation Sunday, 22 Nov 2015 | 5:50 PM ET
    Troubled shipping sector faces consolidation

    The size of the Neptune Orient Lines-CMA CGM deal will reflect the tough times in the shipping industry, notes Esben Poulsson, president of the Singapore Shipping Association.

  • Melting Arctic is like 'discovering a new Africa' Thursday, 12 Nov 2015 | 5:36 AM ET

    There are great benefits to developing the Arctic's amazing wealth of resources, if done carefully, according to Iceland's president.

  • Nov 11- Irving Oil, the company seeking to become the gatekeeper for a new crude oil pipeline from western Canada to the Atlantic Ocean, has struggled to control air pollution at its existing marine terminal in Saint John, New Brunswick. The terminal handles fuels from the company's 300,000- barrel per-day Saint John oil refinery, Canada's largest, and is the...