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Mumbai vessel collision update: Ports to reopen August 15th

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Mumbai vessel collision update: Ports to reopen August 15th

UPDATE - August 13, 2010: First, an update on port operations: India's two biggest ports, the Jawaharlal Nehru Port and Mumbai Port, conducted limited operations on Friday. ----------------------------------------------------------------------------------- Salvagers cleared about 60 of the 300 containers that fell off of the MSC Chitra and spilled into the main channel of Mumbai Harbor, blocking the entrance [...]

Cargo ships collide at Mumbai – all inbound and outbound sailings suspended

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Cargo ships collide at Mumbai - all inbound and outbound sailings suspended

If you source from India and your logistics service provider is any good, hopefully they've already given you a heads up. There was a major accident in Mumbai harbor when the vessel MV Khalijia III, carrying steel coils, and a container ship, the 2,314 TEU MSC Chitra, collided on Saturday. There were no reported injuries [...]

Oakland truckers plan a strike at the port Dec 15-18, 2009

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Oakland truckers plan a strike at the port Dec 15-18, 2009

Update: 9:00am PST - Received reports that police presence in and around the port/terminals is pretty heavy. Also rumors that the strike might only last through today. I received a copy of a flier that's been circulating amongst the drivers at the Port of Oakland. Supposedly it's being organized by the Northern California Port and [...]

More gloomy economic news: Conway and FedEx revise earnings forecasts

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More gloomy economic news: Conway and FedEx revise earnings forecasts

How bad is it? Con-way said that is has revised its 2008 full-year earnings estimate from continuing operations to be between $2.20 and $2.35 per diluted share, which is down from previous guidance of $2.60 to $2.80 per diluted share. They will be laying off staff as well: And with the consumer spending slowdown resulting [...]

Anti-Government protesters shut down Bangkok International Airport UPDATE: PAD to end all protests, claims its goals were achieved.

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Anti-Government protesters shut down Bangkok International Airport UPDATE: PAD to end all protests, claims its goals were achieved.

Update - 12-2-2008, 08:15 PST: With the Prime Minister stepping down and his political party dissolved by the Constitution Court, the PAD (anti-government protesters) have claimed victory - for now: Within a few hours after the Constitution Court dissolved People Power Party, People's Alliance for Democracy, which had led seizures of the Government House and [...]

Vietnam forecasts slower export and import growth in 2009

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Vietnam forecasts slower export and import growth in 2009

Many people commonly mistake Vietnam as the next China, a second factory to the world, when in fact Vietnam has a growing trade deficit, importing more than they export, MUCH different than China. It's a problem that Vietnam's government watches closely, particularly in regards to what they refer to as "luxury goods" such as cars [...]

U.S. Imports and Exports both down in September – trade deficit narrows

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U.S. Imports and Exports both down in September - trade deficit narrows

The good news, as widely reported by just about everybody, is that the trade deficit in September decreased to $56.5 billion from $59.1 billion in August. The bad news is that both imports AND exports were down, it's just that imports decreased more than exports. According to the JOC, the main reason for the narrower [...]

Letters of Credit : Credit crunch affects U.S. exporters

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Letters of Credit : Credit crunch affects U.S. exporters

Peter Leach in the JOC and highlighted in their sister publication Shipping Digest reports on the latest effects that the global financial crunch is having on international trade - buyers are having a hard time getting letters of credit from banks: The credit crunch is starting to hit U.S. exporters, especially smaller ones. Already squeezed [...]

U.S. – Colombia free trade agreement back on the front burner?

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U.S. - Colombia free trade agreement back on the front burner?

Supposedly it was brought up during a "private" discussion between President Bush and President-elect Obama that was promptly leaked to the press, depending on who you believe. It's up to Congress to pass the deal and it's a no-brainer as to why it should pass - most Colombian goods already arrive the country duty-free: it's [...]

Africa seeks 26 country Free Trade Area

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Africa seeks 26 country Free Trade Area

If they are successful - and they do it right - this will be a huge boon for Africa's economy as a whole: 26 African countries have signed an agreement in Uganda that aims to create Africa’s largest free trade area within the next six months. The plan aims to merge the Common Market for [...]

WTO rules against U.S. anti-dumping duties on Mexican steel

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WTO rules against U.S. anti-dumping duties on Mexican steel

Via the SF Chronicle: The United States has six months to bring its taxes on imports of Mexican steel in line with international commerce rules, the World Trade Organization said Friday. The ruling follows a WTO appellate decision in April that found against Washington for imposing excessive dumping fees on stainless steel from Mexico.

U.S. Presidential Election : Free Trade at risk

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U.S. Presidential Election : Free Trade at risk

If I'm reading this editorial from the Journal of Commerce correctly, it won't matter who is elected: For his part, Obama has sent mixed messages. The Illinois senator repeatedly has said that he wants “change,” but that he also favors “free trade” -- at least so long as any free trade agreements are structured to [...]