May 2024
Drewry’s May Port Equity Index improved 8.6 percent in the first quarter 2024, ended May 8, compared to a 1.3 percent decline recorded by the S&P 500.This increase was largely due to a 12.1 percent surge in stock prices of global terminal operators, or GTOs, and a 3 percent increase recorded by regional terminal operators, or RTOs.Consequently, the year-to-date return of the Drewry Port Equity Index rose 14.1 percent, outperforming ...
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DHL Group said it is transitioning key leadership in DHL Supply Chain North America, with Patrick Kelleher, current global chief development officer, assuming the role of North America CEO, effective July 1, succeeding Scott Sureddin, who will retire Dec. 31.“Our North America business has achieved incredible growth thanks to the ...
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The Port of Brownsville has secured the first tenant, Westa Inc., at the port’s new 118-acre business park.Westa Inc., a major player in the agricultural industry, will invest US$20 million to establish an advanced wheat flour mill and wheat storage silos at the Port of Brownsville. The company will develop ...
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Container ship deliveries are continuing their blistering pace into 2024, BIMCO said, as deliveries have already topped 1 million TEUs of container ship capacity in the first four months of the year.The pace is an 80 percent increase over the same period in 2023, when deliveries reached 2.3 million TEUS ...
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Maryland’s Department of Transportation said May 2 that it estimates it will cost US$1.7 billion to US$1.9 billion to rebuild Baltimore’s collapsed Francis Scott Key Bridge, which was struck by a container ship in March.The state DOT said the estimate “is in line with similar projects of this scale and ...
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Stevedoring, marine services and logistics provider Associated Terminals’ management group has purchased S.H. Bell Co. and its subsidiaries.S.H. Bell, founded in 1933, will continue to operate independently in its existing trade and under its name, and the management team will remain in place to manage day-to-day operations under the terms ...
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Project heavy-lift carrier AAL Shipping in April celebrated the 10-year anniversary of AAL Americas, its Houston-based unit, which provides services in the Pacific trade to and from Asia, and transatlantic services to Europe and the Middle East.AAL Americas, which has moved its headquarters to Woodlands, Texas, has carved a niche ...
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The World Shipping Council is calling on the European Union to design policy frameworks that facilitate the essential role of shipping in a globally connected economy and to forge the path to net-zero shipping by 2050 in partnership with industry.WSC, whose members account for 90 percent of the world’s containerized ...
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The Northwest Seaport Alliance is implementing a comprehensive cargo and service incentive program aimed at bolstering international container rail cargo volumes and improving service delivery in the Seattle and Tacoma harbors.NWSA’s managing members are committing US$11 million in incentives, designed in response to market demand and allocated to cover specific ...
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One year since its creation, the Green and Digital Shipping Corridor, or GDSC, shared among three major global container ports, is moving in the right direction for green jobs, health benefits and economic benefits, a study has determined.The U.S. ports of Los Angeles and Long Beach and the Maritime and ...
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