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The Port of Los Angeles has eliminated a fee on cargo containers that it authorized five years ago, but never implemented.
The so-called Infrastructure Cargo Fee (ICF) was supposed to be assessed on all loaded containers passing through the port, and paid by cargo owners. The money would have been used to fund a variety of projects for improving local rail, highway and bridge access.
The decision to repeal came with the realization that many of the targeted projects were already underway, with sufficient funding from other sources, said Mike Christensen, the port’s deputy executive director for development.
More at Forbes
The Mariel container terminal and logistical rail and highway support, a $900 million project, is largely being financed by Brazil and built in conjunction with Brazil’s Grupo Odebrecht SA. The container facility will be operated by Singaporean port operator PSA International Pte Ltd. The terminal is scheduled to open in January.Cuba published rules and regulations on Monday governing its first special development zone, touting new port facilities in Mariel Bay in a bid to attract investors and take advantage of a renovated Panama Canal.
The decree establishing the zone and related rules takes effect on November 1 and includes significant tax and customs breaks for foreign and Cuban companies while maintaining restrictive policies, including for labor.
More at the Global Post
Source: (Glens Falls) Post-Star
Source: Cincinnati
Source: AFT
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