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Shipping companies and terminal operators clinched a tentative deal with the dockworkers union, settling a labor dispute causing months of backups at 29 U.S. ports.
A powerful cyclone hits northeast Australia, causing massive damage and causing flash flooding, while a second storm made landfall to the west.
A total shutdown of West Coast ports could cost the U.S. economy about $2 billion a day, Jay Timmons tells CNBC.
Discussing the impact the port delay on the West Coast is having on the industry, with Jon Slangerup, Long Beach Port CEO.
West Coast port shutdowns have pinched automakers, but the dispute has only minimally impacted vehicle tool maker Snap-On, the CEO told CNBC.
Labor Secretary Tom Perez will travel to San Francisco on Tuesday to meet with both sides in a dispute between shipping companies and dock workers.
Labor Secretary Tom Perez will travel to California to help broker a deal between shipping companies and dockworkers in the West Coast port fight.
Everyone agrees that the Los Angeles and Long Beach ports slowdown is bad, but it's hard to tell who's to blame.
Shipping lines and terminal operators at 29 U.S. West Coast ports requested federal mediation on Monday in their contract talks with the union for 20,000 dockworkers.
Negotiations over a new contract for dockworkers at 29 West Coast ports took an unexpected turn, as employers decried the "extended break" in talks.
Loh Chin Hua, Chief Executive Officer of Keppel Corporation, says it's "heartening" to see Beijing rolling out measures targeted at the ongoing stress in the property market.
A contract that covers nearly 20,000 dockworkers is set to expire, and businesses are worried about disruptions.
Jonathan Windham, Head of Asia Ex-Japan Transport and Infrastructure Research at Barclays thinks investors should steer clear of shipping stocks, saying they aren't cheap enough to justify the risk.
Lee Cheuk-Yan, Hong Kong Legislator and Chairman of the Labour Party, calls the agreed wage increase for Hong Kong port workers a "half win", saying the union will continue to work for a collective bargaining agreement.
Australia's Port Hedland, which handles about a fifth of the world's seaborne-traded iron ore, will reopen on Wednesday after being spared the brunt of a cyclone that has also shut other major ports in Western Australia.
The threat of imminent labor unrest at four U.S. Pacific Northwest ports was averted on Wednesday as the dockworkers union said its members would stay on the job despite "substandard" contract terms being imposed unilaterally by grain shippers.
A U.S. port workers union has accused APM Terminals, a port operator of A.P. Moller-Maersk, of spying on union representatives in Los Angeles by tapping their phones.
As the Greek government contemplates shedding state-owned assets to help pay down staggering debts, it could consider leasing or even selling the rest of the port to China, the New York Times reports.
The outlook of the container shipping industry remains uncertain, according to NOL’s Chief, as the industry grapples with concerns over rising fuel costs, overcapacity and ripple effects from the Japan disaster. Shipping veteran Ron Widdows, who helms the Singapore-based company, the world’s sixth-largest container shipping company, talks to CNBC’s Christine Tan.