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There are several places in the Northwest considering taking oil arriving by rail from North Dakota to be transported onto ships. Meanwhile, there’s talk in Congress about weakening rules against exporting American oil. Graphic by The Columbian.Two oil-by-train terminals proposed for the Port of Grays Harbor on the Washington coast were dealt a set back when state regulators withdrew permit approval.
A state regulatory board is withdrawing its approval of permits for two crude oil shipping terminals in Grays Harbor, Wash., saying backers have failed to address public safety and environmental issues.
More at Jefferson Public Radio
Fresh off the three-month peak season in which retailers rush to stock their stores for the holidays, the Port of Long Beach reported a rise in cargo flow in October, while decreasing market share continues to reflect Port of Los Angeles’ falling numbers, according to statistics released Friday.
Terminals at the Port of Long Beach moved 576,502 containers in October, a 8.7 percent jump over the same time last year, while imports were also up by 7.8 percent with 298,271 units and exports soared 6 percent with 141,457 units.
October’s numbers continue to reflect a steady climb in Long Beach.
More at the Press Telegram
Source: Al Jazeera
Hanjin, South Korea’s largest shipping company, and Hyundai Merchant are expected to post losses next year as well, according to analyst estimates compiled by Bloomberg.South Korea’s three biggest shipping companies face a cash crunch as 3 trillion won ($2.8 billion) of bonds are due for repayment in the next two years amid mounting losses from a global slump in rates to carry cargo.
Hanjin Shipping Co., Hyundai Merchant Marine Co. and STX Pan Ocean Co. are all forecast to post losses in 2013 for a third consecutive year, further denting the combined 1.3 trillion won of cash and near cash items they had as of the end of September. The companies need to repay 1.4 trillion won of bonds next year and 1.6 trillion won the year after.
A debt-fueled expansion after the 2008 Lehman Brothers Holdings Inc. bankruptcy filing pushed the carriers into losses so deep they may need financial assistance to repay loans taken to buy new vessels, said Kim Ik Sang, a credit analyst at HI Investment & Securities Co.
“It’s pretty much out of their control,” said Seoul-based Um Kyung A, an analyst at Shinyoung Securities Co. “Cash is depleting quite fast while the shipping...
[Note: You can listen to this story's interview with Paddy Crumlin, General Secretary of the MUA and President of the International Federation of Transport Workers, at this link.]
Paddy CrumlinTransport union leaders from across the Asia Pacific are taking the first steps towards forming a regional grouping.
The move is being spearheaded by the Maritime Union of Australia, the Maritime Union of New Zealand and the Papua New Guinea Maritime and Transport Workers Union.
The new regional grouping would work together on joint campaigns and argue for uniform standards across the region.
More at Radio Australia
Source: USAS
Source: libcom
Source: Arabian Business
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