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Approximately 80% of all S&P 500 companies have reported fourth-quarter earnings as of last Friday, and of those, 75% have reported earnings per share (EPS) above estimates. That’s well above the 10-year average, according to FactSet. The reason I bring this up is because many investors and pundits appear to believe that the only stocks doing well… Read More
Over the past 10 years, Tradepoint Atlantic has worked to clean up the infamous remnants of the Bethlehem Steel Days to bring back new reimagined glory days to the Port of Baltimore. “This is the next major phase of redevelopment and clean up at Sparrows Point,” said Aaron Tomarchio, Executive Vice President of Tradepoint Atlantic…. Read More
The Georgia Ports Authority sets export record for the third year consecutive year; the Alabama Port Authority and CSX partner to launch a new intermodal facility; and the Port of Cleveland receives $32 million to modernize its facilities. Georgia breaks export record with almost $50B in trade in 2023 For the third consecutive year, exports… Read More
MOUNT PLEASANT, S.C. (WCIV) — In 2022, South Carolina Ports broke ground on its Navy Base Intermodal Facility, a project that could change the flow of cargo traffic in the area and bring economic change to the state. Port leaders say the facility is on schedule to open in 2025. The Navy base will become a… Read More
One major repair project at Port Manchac is nearing completion, and another could potentially be going out for bid in the next three to four months. South Tangipahoa Parish Port Commission Executive Director Patrick Dufresne told commissioners during a commission meeting Wednesday that the long-awaited new truck scale, damaged during Hurricane Ida, should soon be… Read More
The Port of Los Angeles and the Port of Long Beach are both rebounding from a down year in 2023. In January, the Port of Long Beach saw a 17.5% increase in cargo compared to the same time last year. Port of Long Beach CEO, Mario Cordero, joined “Inside the Issues” host Amrit Singh to… Read More
The Francis Marion University School of Business is kicking off a speaker series with Barbara Melvin, president and CEO of South Carolina Ports Authority. The series will begin Feb. 21 at 7 p.m. in the Hugh and Jean Leatherman Medical Education Complex in downtown Florence. A reception will follow in the Carter Center for Health… Read More
PORTLAND, Ore. — The Port of Portland is getting ready to take the wraps off of the new main terminal at the Portland International Airport, with the big debut set for May. Behind a giant white curtain that runs the length of the terminal behind the public-facing check-in counters, large parts of new terminal have… Read More
LONG BEACH, Calif., Feb. 13, 2024 (GLOBE NEWSWIRE) — STAX Engineering, a leader in maritime emissions capture and control, today launched the first multi-port emissions reduction operation in California at the Ports of Los Angeles, Long Beach, and Oakland. STAX, a grantee of the California Air Resources Board (CARB), is the only provider authorized to service container vessels… Read More
At first glance, the ports of Los Angeles and Long Beach look like any others in the world. Among the world’s busiest, the neighboring facilities hum with massive containerships, tankers and auto carriers making their way in and out, and cranes swinging containers onto waiting trucks. But at the Port of L.A., a curious companion is making itself at… Read More
The Port of Savannah’s cargo volumes fell 4% year over year in December as companies continue to work through inventory issues. “Higher inflation rates and interest rates slowed consumer spending resulting in higher inventories in warehouses,” the Georgia Ports Authority said in a Jan. 30 press release. The port handled 422,287 TEUs in December, roughly 18,000 fewer… Read More
The city-owned Galveston Wharves and international cruise company MSC Cruises finalized an operating agreement that will allow the company to use the port’s new $142 million cruise terminal complex, which officials will begin developing in early 2024, according to a February news release from Galveston Wharves. The Port of Galveston is the fourth most popular cruise home port in… Read More
WASHINGTON, D.C. – A bill that would stop President Joe Biden from closing ports of entry has been introduced by U.S. Senators Pete Ricketts and Ted Cruz. According to Ricketts’ Office, the Keeping International Land Ports of Entry Open Act would stop the Biden administration from closing international land ports at the southern border, negatively… Read More
The 2024 tourist season is set to be another landmark year for cruise ship visits in Nova Scotia. The cruise season is scheduled to kick off on April 6 in Halifax with the arrival of MSC Poesia, an MSC Cruises vessel and will run until November 3 when the Insignia, an Oceania Cruises vessel will close out… Read More
East Coast U.S. seaports are poised for a big decade. In Baltimore, a public-private partnership invested $550 million into Seagirt Marine Terminal to handle consumer cargo arriving on larger ships. Baltimore will next build a new rolling cargo dock and establish a new manufacturing hub with a $47 million federal grant awarded in 2023, among… Read More