Ports, Shipping Industry Responsible for 26% of US GDP, Study Says
The bustling activity at America’s seaports added $5.4 trillion to the economy in 2018 by way of revenue to businesses, personal income and economic output by exporters and importers.
Ports' TEU Volume Cools in February After Red-Hot 2018
The nation’s biggest ports are off to a mixed start compared with 2018’s record year, showing slower 20-foot-equivalent container volume as the economy gradually slows and with U.S.-China trade talks set to resume shortly.
Nation’s Ports Off to a Strong Start in 2019; Trump Delays Tariff Increase
The nation’s major ports finished 2018 setting monthly and yearly container volume records, and industry experts said 2019 is off to a strong start. Meanwhile, President Donald Trump said on Feb. 24 he is delaying the scheduled March 1 increase in the tariffs on $200 billion in Chinese imports.
Next Secures $97 Million in Series C Round of Funding
Next, a company that uses smart matching and predictive load technologies to connect shippers and carriers, announced it has secured $97 million in its Series C round of funding. The company will use the funds in part to launch Relay, a service to address congestion at shipping ports.
February 5, 2019Volume Growth Continues at Nation's Ports as US, China Resume Trade Talks
The nation’s ports continued to see steady growth in November cargo volume, as shippers moved goods to the United States from overseas in advance of the holiday shopping season and rushed to get cargo stateside ahead of expected tariffs on shipments from China.
Port Leaders Express Concern Over Funding Demands From CBP
The trade association that represents the nation’s ports has written to the leadership of United States Customs and Border Protection expressing concern about the costs that CBP expects ports to absorb for new and upgraded facilities to house CBP staff.
Nation’s Ports Booming Amid Strong Economy
September and October were record months for many of the nation’s ports as shippers prepared for a busy holiday shopping season and rushed to get cargo into the U.S. ahead of the Trump administration’s tariffs against several nations, including China.
Port of Corpus Christi, Carlyle Group to Partner on Texas Terminal
The Port of Corpus Christi and investment firm The Carlyle Group will team to develop an inland crude oil export terminal for some of the world’s largest oil tankers.
Nation’s Two Largest Ports Toughen Clean-Truck Standard
As of Oct. 1, any Class 8 trucks entering service for the first time at either the Port of Los Angeles or the Port of Long Beach must be model year 2014 or newer under a change implemented at the nation’s two largest ports.
Pressure on Shippers to Import Product Before Onset of Tariffs
With a strong U.S. economy, a tight freight market and a looming trade war, industry experts believe shippers have been rushing to get products into the United States several weeks early — ahead of tariffs being implemented by the Trump administration and before the approaching holiday shopping season ramps up.