CK Hutchison's plan to sell most of its $22.8 billion ports business is unlikely to be finalised anytime soon, with political brinkmanship set to continue, and sources saying that a Sunday deadline for exclusive talks was likely to be extended.The Hong Kong conglomerate's plan to sell the business, which would include two ports along the strategically important Panama Canal
President Donald Trump once again withdrew the United States from the Paris climate deal on Monday, removing the world's biggest historic emitter from global efforts to fight climate change for the second time in a decade.The move places the United States alongside Iran, Libya and Yemen as the only countries in the world outside the 2015 pact
China is stepping up pressure on the Philippines to concede its sovereign rights in the South China Sea, Manila's Defense Secretary Gilberto Teodoro said on Tuesday after meeting his Australian counterpart in Canberra.The fifth such meeting since August 2023 reflects growing security ties between the countries
Crowley, the longest-serving U.S. logistics provider in Puerto Rico, is enhancing the resiliency of its Isla Grande logistics terminal in San Juan with the installation of a microgrid fueled by liquefied natural gas (LNG).The innovative energy system will provide a reliable power supply tailored to support the terminal’s daily operations, such as powering its terminal equipment
U.S. container import volumes increased 4.7% year-on-year in February, but could cool in coming months as the U.S. trade war with China and other key trading partners takes hold, supply chain technology provider Descartes said on Monday.U.S. seaports handled more than 2.2 million 20-foot equivalent units (TEUs), the second highest February volume on record, fueled by a 7.
Eureka Naval Craft is introducing its suite of high-speed AIRCAT (air cushion catamarans) surface effect ships (SES), already in use with the offshore energy industry, to the defense market.According to Bo Jardine, CEO of Eureka Naval Craft, a newly formed U.S.-based naval defense company, the versatile suite of AIRCAT naval vessels can serve as a patrol craft, rescue craft
A sailboat collided with a barge near Hibiscus Island, Miami, on Monday leaving two dead.Miami Beach Fire Rescue crews were first on scene, and they were later joined by Miami-Dade Fire rescue, City of Miami Fire Rescue, Florida Fish and Wildlife Conservation Commission (FWC) and Coast Guard Station Miami Beach.
Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline), has finalized its acquisition of the Rolls-Royce Naval Propulsors business.The milestone was celebrated at the newly acquired Pascagoula, Mississippi, foundry, where Governor Tate Reeves, Fairbanks Morse Defense CEO Steve Pykett
The U.S. issued Iran-related sanctions targeting more than 30 individuals and entities it said are part of a "shadow banking" network that has laundered billions of dollars through the global financial system, the Treasury Department said on Friday.The sanctions, which target Iranian nationals and some entities in the United Arab Emirates and Hong Kong, were announced as U.S.
U.S. Secretary of State Marco Rubio will visit Panama during his first overseas trip in the post, a source told Reuters on Thursday, as President Donald Trump makes a push for the United States to take back the Panama Canal that has angered the Central American country.Rubio is expected to depart on Jan.
Descartes Systems Group has released its January Global Shipping Report, highlighting the continuing a trend of higher year-on-year container volumes throughout 2024.December 2024 U.S. container import volumes closed at 2,367,271 TEU, just shy of the 2.4 million TEU threshold that has typically strained port capacity. Despite elevated volumes, overall transit delays decreased across the top 10 U.
China's foreign ministry said on Wednesday it was not aware of Shandong Port Group's decision to ban U.S.-sanctioned vessels from its network of east coast harbours.The group oversees several major terminals in the province of Shandong, which is the main entry point for Iranian, Russian and Venezuelan oil imported into China.