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NEW YORK & SYDNEY & MELBOURNE, Australia–(BUSINESS WIRE)–Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, and Spirit Super, an Australian industry super fund, today announced the signing of a definitive agreement to acquire 100% of Australia’s GeelongPort Pty Limited (“GeelongPort”). GeelongPort is Victoria’s second largest port located approximately 75 kilometers southwest… Read More
The CMA CGM Group has announced that Ed Aldridge, president of CMA CGM America and American President Lines (APL), will retire on December 6. Peter Levesque, a global supply chain executive with more than 30 years of industry leadership experience, will assume the presidency of both CMA CGM America and APL upon his departure. Levesque… Read More
William P. Doyle, executive director of Maryland’s Port of Baltimore and the Maryland Department of Transportation Maryland Port Administration (MDOT MPA)has been appointed by U.S. Transportation Secretary Pete Buttigieg to the Maritime Transportation System National Advisory Committee (MTSNAC) for a two-year term, effective immediately. The MTSNAC provides information and recommendations to Secretary Buttigieg through the… Read More
The Georgia Ports Authority handled 552,800 twenty-foot equivalent container units in October, for an increase of 9.6 percent (48,460 TEUs) compared to the same month last year. “Customers continue to bring new or expanding business to the Port of Savannah, drawn by our global connectivity and the supply chain network that links Savannah to major… Read More
October volume at the busiest U.S. seaport fell to its lowest level since 2009 as shippers sent cargo to alternate trade gateways to avoid potential disruptions from ongoing West Coast port labor talks, Port of Los Angeles Executive Director Gene Seroka said on Tuesday. The data comes as ocean trade activity returns to more normalized… Read More
For years, the twin ports of Los Angeles and Long Beach have ranked as the two busiest container ports in the United States, respectively. Following a record year in 2021, however, the San Pedro Bay ports continue to lose market share to East and Gulf Coast ports, putting their top rankings on the line—at least… Read More
Imports into the nation’s busiest container port complex in Southern California are plummeting as U.S. trade sputters and retailers and manufacturers shift their supply chains amid increasingly contentious West Coast port labor negotiations. The neighboring ports of Los Angeles and Long Beach handled 630,231 loaded inbound containers in October, down 26% from the same month… Read More
Savannah, Ga., is about to get a 6.5 million-square-foot injection of industrial inventory, which the market desperately needs. SJP Properties, Chesterfield and Atalaya Capital Management have broken ground on the first of 12 buildings at a $550 million industrial park, which will be known as the Georgia International Commerce Centre. That should help accelerate supply chains that depend on the… Read More
Port of Seattle has released its proposed 2023 budget, and along with it a $82.7 million dollar property tax levy that would see Seattle property taxes rise by an average of $78.42 per homeowner annually. This per-homeowner cost is based on a median Seattle home value of $830,000 and comes to 9 cents per $1000 of… Read More
Good news for the Port of South Louisiana: The Federal Emergency Management Agency (FEMA) has awarded the Port nearly $700,000 to upgrade its cybersecurity framework in the face of the ever-evolving threat landscape. Together with the Port’s 25% funding match, this means that nearly a million dollars will be earmarked for new, updated, and ongoing… Read More
A Coast Guard Air Station Clearwater MH-60 Jayhawk helicopter crew conducts assessments after the path of tropical storm Nicole November 11, 2022 in the southwest Florida areas. Personnel from the Seventh Coast Guard District are responding to the aftermath of Hurricane Nicole, Friday. Hurricane Nicole has been downgraded to Tropical Depression Nicole. Crews from Coast… Read More
Security concerns related to Chinese investments in overseas ports are mounting as the country’s firms acquire more stakes at shipping hubs around the world and geopolitical tensions rise. Chinese companies have expanded investments at foreign ports in recent years and now run major container terminals in locations including Belgium, Israel, Spain, Sri Lanka and the United Arab Emirates. All told,… Read More
Great Lakes Dredge & Dock Company, LLC, who are currently dredging segment 3/4a of the #HoustonShipChannel Expansion-Project 11, rescued 3 men earlier this week in Galveston Bay. The 3 men had a 25-foot oyster boat that caught fire and the crew of the Master Dylan quickly rendered assistance. https://lnkd.in/d6QXUxiT Source
The Maritime and Port Authority of Singapore (MPA) and California’s San Pedro Bay ports of Los Angeles and Long Beach have begun discussions to establish a green and digital shipping corridor between Singapore and the San Pedro Bay port complex. The corridor will focus on low- and zero-carbon fuels for bunkering, as well as digital… Read More
As global trade continues to slow, its is impact the shipping industry as well as ports and related businesses. The effects are beginning to show in more forecasts with the National Retail Federation, for example, today lowering its projection for U.S. imports. While still forecasting a “healthy” and “positive” holiday retailing season in the United… Read More