QuickNews

 

Transportation infrastructure initiatives to boost employment?

0 comments
Transportation infrastructure initiatives to boost employment?

Hmmmm........: Infrastructure was front and center yesterday at a hearing held by the House Committee on Transportation and Infrastructure, “Investing in Infrastructure: The Road to Recovery.” The hearing primarily focused on how transportation infrastructure investments can jumpstart the nation’s fledgling economy through job creation at a time when the U.S. construction agency’s unemployment rate is [...]

Dollar up against major currencies: Silver Lining? Or double edged sword?

0 comments
Dollar up against major currencies: Silver Lining? Or double edged sword?

Via CNNMoney.com: Compared with other currencies around the globe, the greenback was perceived as a safer haven amid a growing feeling that the U.S. government's bailout efforts will lead to a faster rebound in the U.S. versus other countries. The euro cost $1.2832, down from $1.3062. The euro hasn't traded this low since January 2007. [...]

Grace period’s over: CARB to enforce truck anti-idling program

0 comments
Grace period's over: CARB to enforce truck anti-idling program

I don't know too much about this program except that it's been around for awhile, but never enforced. Apparently CARB (California Air Resources Board) allowed a grace period for companies and drivers to get used to the new requirements. Well, according to this article from eTrucker.com, the grace period is over: CARB staff and local [...]

Lack of bandwidth, connections to state agencies, limit progress of HCMC e-customs service

0 comments
Lack of bandwidth, connections to state agencies, limit progress of HCMC e-customs service

The Ho Chi Minh City Customs Department has been in the midst of a trial period for their online "e-customs" clearance procedures. The initial results are a bit disappointing, to say the least. One of the project’s biggest shortcomings stemmed from the e-customs website’s limited bandwidth, causing information and valuable work and time to be [...]

Hong Kong trade volumes decline in August

0 comments
Hong Kong trade volumes decline in August

A quick report from Nasdaq.com: Total export volume fell 1.1% year-on-year in August compared to a 7.3% rise in July. The decline in exports reflected a 0.1% fall in re-exports and a 24.9% drop in domestic exports. Meanwhile, total imports slid 2.4% in August, reversing the 10.9% growth in the previous month. Among the countries, [...]

U.S. trade deficit declines slightly – exports down

0 comments
U.S. trade deficit declines slightly - exports down

Good news is that the trade deficit narrowed but it looks like U.S. exports incredible run may be coming to an end in the near future as global demand cools and the U.S. dollar gains in strength. Then again, import demand is down as well, so it's possible that the trade deficit will continue to [...]

Did capacity concerns make NOL nervous about acquiring Hapag-Lloyd?

0 comments
Did capacity concerns make NOL nervous about acquiring Hapag-Lloyd?

Wouldn't surprise me: Given the fact that ocean carrier capacity is ramping up while shipper demand is slackening, news that NOL backed out of buying Hapag-Lloyd comes as small surprise to many analysts. German group TUI AG has agreed to sell its Hapag-Lloyd container shipping business to a Hamburg-based consortium led by Klaus-Michael Kuehne of [...]

Weak demand leads to weak trucking stock prices

0 comments
Weak demand leads to weak trucking stock prices

Via the Journal of Commerce: Shares in Con-way, a less-than-truckload carrier, fell almost 19 percent, while shares in truckload carrier JB Hunt Transport Services declined more than 12 percent, while Covenant Transportation Group saw its price fall 5 percent. Trucking brokerage firms C.H. Robinson Worldwide and Landstar System fell 6 percent and 9 percent. Con-way [...]

Japan: August export growth slows to 0.3%

0 comments
Japan: August export growth slows to 0.3%

Weak demand from the U.S. and Europe is taking it's toll on Japan's exports: Japan had a trade deficit of 324 billion yen ($3 billion), the first since January, because of record oil imports. The nation's import bill rose 17 percent from a year earlier. Shipments to the U.S. plunged 21.8 percent last month, the [...]

International Chamber of Commerce calls on governments to take action against Somalia piracy

0 comments
International Chamber of Commerce calls on governments to take action against Somalia piracy

Via the Journal of Commerce online: According to ICC's International Maritime Bureau Piracy Reporting Center, there have been 54 attacks on vessels in Somali waters so far this year, with 12 vessels and over 240 crew members still being held hostage. These hostages are citizens of many nations, including Europe, Russia and others with coalition [...]

U.S. begins negotiations to join the Trans-Pacific Strategic Economic Partnership Agreement

0 comments
U.S. begins negotiations to join the Trans-Pacific Strategic Economic Partnership Agreement

"Negotiating to join" isn't the same thing as joining, but it's the first step in what could be a long journey to eventually joining or not. Here is Trade Representative Susan Schwab's statement: “Today, I want to discuss the United States’ participation in the Trans-Pacific Partnership Agreement, and our long-term vision for regional, plurilateral and [...]

CN makes their case to the courts for Chicago area rail acquisition

0 comments
CN makes their case to the courts for Chicago area rail acquisition

If you haven't read our interview with Shaun Stevenson of the Prince Rupert Port Authority yet then you owe it to yourself to click on over and read it here. One of the topics covered in that interview was the CN (Canadian National Railway) proposed acquisition of the Elgin Joliet & Eastern Railway Company. As [...]