Baltic index logs weekly gain on higher vessel rates
The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, rose on Friday to…
California Invests $27 Million in Port Data System Development
The California Governor’s Office of Business and Economic Development (GO-Biz) today announced the award of $27 million to support data…
MARAD Awards Grants to 15 Small Shipyards to Boost Productivity and Jobs
The U.S. Department of Transportation’s Maritime Administration (MARAD) announced $8.75 million in grant awards to 15 small shipyards in 12…
US Imports Remain High With Signs of Softening of Container Spot Prices
Container import volumes remain strong at U.S. ports and significantly ahead of 2023 levels despite the first signs of softening…
CBP Recovers Over 1,300 Stolen Cars Being Smuggled Overseas from U.S. Ports
U.S. Customs and Border Protection is reporting a strong increase in the recovery of stolen vehicles being smuggled out of…
IMB: Violence Against Crew on the Rise Amidst Drop in Piracy
The safety of crews on merchant ships is increasingly becoming a major concern owing to the rise in violent attacks…
India’s industrial output up 5.9% y/y in May
India’s industrial output INIP=ECI grew at a stronger-than-expected 5.9% year-on-year in May amid a higher growth in the mining and…
India Opens Vizhinjam Transshipment Port with Arrival of Maersk Ship
India’s first new deep-water port designed to facilitate the transshipment of containers celebrated its opening today as the first vessel,…
Citi profit climbs on investment banking surge, services strength
Citigroup’s profit rose in the second quarter, boosted by a 60% jump in investment banking revenue and gains in its…
FMC Defers Approval of Maersk-Hapag Cooperation for Competitive Review
The U.S. Federal Maritime Commission on Friday, July 12, reported that it is deferring its review and approval of the…