ALBANY, N.Y.— The Port of Albany will receive $17 million in federal funding to pay for upgrades and an expansion allowing for greater shipment of large cargo. The New York Democrat says the money will allow the port to demolish and rebuild a warehouse, rebuild a shipping terminal and improve safety at the port, which he says is the busiest facility of its kind in... » Read More
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.