DIRS.INFO The most relevant business & tech news

☆ CSX completes first diverted cargo shipments on new rail line for Port of Baltimore
▼ + stars: | 2024-04-04 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Just days after CSX announced a new rail line in response to the Port of Baltimore closure, the Baltimore-bound containers that were diverted to the Port of New York and New Jersey are back being unloaded in Baltimore. CSX started discussions last week with Ports America to see how it could effectively move the diverted cargo. The train route moving the diverted cargo includes Chicago; Kearney, New Jersey; and Baltimore. Norfolk is in discussions with Ports America to extend this service directly on-dock at their Seagirt Intermodal Container Transfer Facility. As the Port of Baltimore crisis unfolded, many major ocean carriers invoked contract clauses transferring responsibility for transportation of cargo from diverted ports to shipping clients.

Persons: Mark Schmidt, Schmidt, Scott Cowan Organizations: CSX, Port, Ports, Canada, Plan Investment Board, Ports America, Norfolk Southern, Elizabeth Marine, Norfolk Southern's Triple Crown Services, International Longshoremen's Association, Baltimore Locations: Baltimore, of New York, New Jersey, Ports America, North, Chicago, Kearney , New Jersey, Norfolk, New York, Wilmington, Newark, Elizabeth , New Jersey, Port of New York, North America, Port of Baltimore, East Coast, Gulf, U.S, , Puerto Rico, Eastern Canada

☆ Ellis Island Museum: An American landmark is getting a $100 million makeover
▼ + stars: | 2024-04-04 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +8 min

Today about 40% of the US population can trace their ancestry through Ellis Island, according to the National Park Service. A group of recently arrived immigrants carry their belongings on Ellis Island in the early 1900s. Courtesy Statue of Liberty - Ellis Island FoundationAfter decades of disrepair, a new museum was bornThe brick building that currently houses the museum opened in 1900. After processing more than 12 million immigrants, Ellis Island closed its doors in 1954 and fell into disrepair for decades. “Right now, it can feel in places like a book on the walls, because it’s a 34-year-old museum,” Brackenbury says.

Persons: CNN — Ellis, ”, Jesse Brackenbury, –, ” Brackenbury, Ellis, Ellis Island's, Ronald Reagan, Lee Iacocca, Brackenbury Organizations: CNN, – Ellis Island Foundation, National Park Service, Records Discovery, Ellis, Chrysler, of Liberty, National, Service, United, National Museum of Immigration Locations: America, New York, Ellis, United States, of New York, Port of San Francisco, New Orleans, Liberty, of, American

☆ Railroad CSX adding new freight route on Tuesday to avoid Port of Baltimore after bridge collapse
▼ + stars: | 2024-04-01 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +2 min

Baltimore-bound rail freight which was diverted to the Port of New York and New Jersey will use this new CSX service, the freight railroad tells CNBC. Freight destined for the Port of Baltimore as exports will also use this new service to get to the Port of New York. The amount of freight being moved on the new line is not being disclosed for now, a CSX spokeswoman said. The railroad explained in an email to CNBC that strategic partnerships with steamship lines allow it to transport freight between New York and Baltimore, using its established international sales network. "While the timeline for resuming freight operations at the Port of Baltimore remains uncertain, we are in constant communication with our customers, providing timely updates on the status of their shipments.

Persons: Francis Scott Key, Dali, Aaron Roth Organizations: CSX, CNBC, Freight, Port, MSC, Baltimore, Coast Guard, Chertoff Group Locations: Baltimore, New York, Port of Baltimore, of New York, New Jersey

☆ Cars, sugar and cruises: How the Port of Baltimore closure could hurt the economy
▼ + stars: | 2024-03-26 | by ( Mark Thompson | Chris Isidore | ) edition.cnn.com time to read: +8 min

The Port of Baltimore said in a post on X that vessel traffic was suspended until further notice, but trucks were still being processed at its terminals. It said it would discharge cargo destined for Baltimore in other ports nearby, but Maesrk warned customers that could mean delays. Closer to the Midwest than any other port on the East Coast, Baltimore is a major hub for vehicles, containers and commodities. Baltimore ranks first among US ports for autos and light trucks, handling a record 850,000 vehicles last year. While many of the 30,000 to 35,000 cars and trucks that used the Key Bridge daily can be rerouted through the two nearby tunnels, that will cause traffic delays.

Persons: Dali, Judah Levine, ” Maersk, “, VW, Oren Klachkin, Levine, Mark Zandi, ”, Zandi, Wes Moore, Joe Biden, Francis Scott Key, Tasos Katopodis, — Moore, Emily Stausbøll, Matt Lupoli, Hanna Ziady, Peter Valdes, Rob North, Sugam Pokharel Organizations: New York CNN, Baltimore, Atlantic, Nationwide Financial, US, Moody’s, Maryland Gov, Rebuilding, Francis Scott Key Bridge, Domino, Company, Royal Caribbean, Cruises, Cruise, Cruise Lines International Association, Royal Locations: London, New York, Port, Baltimore, East Coast, Singapore, East Coast , Baltimore, Philadelphia, Norfolk, of New York, New Jersey, Asia, Africa, Suez, Maryland, Patapsco, Rebuilding Baltimore, Baltimore , Maryland, Tasos, “, Norway, Royal Caribbean

☆ An Arms Smugger, a Daring Heist, and the Birth of Israel
▼ + stars: | 2024-03-24 | by ( David Kushner | ) www.businessinsider.com time to read: +35 min

Joining the Haganah, Schwimmer discovered, wasn't as easy as just strolling through the door. "He felt he had to do his part in creating a Jewish state, so this could never happen again," Schwimmer recalled. Rather than melt down the surplus weapons for scrap, Liff told Greenspun to take as much as he wanted — free of charge. "It went against the grain to buck the same government we had fought to preserve only a few years before," Hank Greenspun recalled. In 2001, at the urging of Brian Greenspun, Schwimmer received a presidential pardon from Bill Clinton.

Persons: Danny Schwimmer, They'd, Rina, Al —, David Ben, Gurion, Al Schwimmer, Schwimmer, Bugsy Siegel's, Meyer Lansky, Frank Sinatra, Sinatra, —, Boaz Dvir, Israel —, Danny, Al, I've, Hank Greenspun, Greenspun, Brian, Adolph, Dick Tracy, " Schwimmer, Wing Walker, America, Yehuda Arazi, Arazi, they'd, Schwimmer's, Sam Lewis, Leo Gardner, Milton, Milt, Rubenfeld, Paul Reubens, Herman, Reubens, Bugsy Siegel, Siegel, — Schwimmer, Nathan Liff, Liff, PhotoQuest, Bernarr McFadden, Pat, Ptacek, Rafael Trujillo, Teddy Kollek, Erwin Johnson, Bill Gerson, Gerson, Bud King, Gerson's, Ben, Joel Kimmel, Lewis, Lansky, hadn't, Tommy, Messerschmitts, David, Milt Rubenfeld, Israel, Charlie Winters, Winters, weren't, aren't, America's, Joseph McCarthy, John F, Kennedy, Brian Greenspun, Golda Meir, Bill Clinton Organizations: Israeli Air Force, TWA, Haganah, United Nations, Lockheed Air, Los Angeles Examiner, USC, Getty, US Naval, Schwimmer Aviation, FBI, UN, Customs Service, Palestine . Volunteers, Embassy, Israel, Service Airways, State Department, BI, Pepsi, Zionist, Nazi, Star, American, Avia, Messerschmitt, Pennsylvania State University who's, Las, Sun, Israel Aerospace Industries, IAI, they're, Israeli Locations: Tel Aviv, Israel, Connecticut, Palestine, New York, Copacabana, United States, Hungary, Auschwitz, storages, Arizona, Bridgeport, Rome, Burbank , California, Burbank, Las Vegas, Hawaii, Oahu, Santa Claus, California, Washington, Burbank ., Acapulco, Mexico, it's, Mexico City, Central, South America, Dominican Republic, China, America, Mexican, Panama, Panamanian, Corsica, Oklahoma, Detroit, Suriname, Brazil, Senegal, Casablanca, Sicily, Catania, Europe, Czechoslovakia, Czech, Egypt, Cairo, Los Angeles, American, Gaza, Iran

☆ 'America's greatest gift to Israel'
▼ + stars: | 2024-03-24 | by ( David Kushner | ) www.businessinsider.com time to read: +35 min

As the country's founder and first prime minister, David Ben-Gurion, once declared, "America's greatest gift to Israel was Al Schwimmer." Joining the Haganah, Schwimmer discovered, wasn't as easy as just strolling through the door. "He felt he had to do his part in creating a Jewish state, so this could never happen again," Schwimmer recalled. Rather than melt down the surplus weapons for scrap, Liff told Greenspun to take as much as he wanted — free of charge. In 2001, at the urging of Brian Greenspun, Schwimmer received a presidential pardon from Bill Clinton.

☆ How the Red Sea crisis could clobber the global economy
▼ + stars: | 2024-01-10 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

The Suez Canal accounts for 10-15% of world trade, which includes oil exports, and for 30% of global container shipping volumes. Maersk CEO Vincent Clerc told the Financial Times Thursday that re-establishing safe passage through the Red Sea could take “months.” “It could potentially have quite significant consequences on global (economic) growth,” he added. Ikea has warned of shipment delays and potential shortages of certain products due to disruption in the Red Sea. Some ocean carriers that ordinarily transit through the Panama Canal had rerouted to the Suez Canal before the attacks in the Red Sea escalated, according to logistics company C.H. Matthew Burgess, vice-president of global ocean services at the firm, said global shipping capacity would be constrained for a while yet.

Persons: Joe Biden, Vincent Clerc, Germany’s, Mohamed, El Erian, ” Simon MacAdam, Lily Millard, Ben May, Good Hope, ”, ” It’s, Abercrombie &, Nathan Howard, “, ” Philip Damas, —, Judah Levine, Levine, Eric Thayer, Carolina Klint, Marsh McLennan, Robinson, Matthew Burgess, we’ve, Gene Seroka, Burgess, C.H Organizations: London CNN, British, Energy, World Bank, Maersk, MSC, Lloyd, CMA CGM, Financial Times, Global, Germany’s Kiel Institute, Allianz, Bank, Capital Economics, Oxford Economics, European Automobile Manufacturers ’ Association, Ikea, CNN, Abercrombie, Abercrombie & Fitch, Bloomberg, Getty, Drewry Supply Chain Advisors, Marsh, United, Port Locations: Iran, Crocs, Suez, Yemen, Gaza, Germany, Brent, Gulf, Oman, South Africa, Germany’s Kiel, Red, Israel, Good, Europe, ”, China, Asia, Los Angeles, United States, Panama, Rotterdam, of Los Angeles, of New York, New Jersey

☆ Special election to replace ex-Rep. George Santos set for Feb. 13
▼ + stars: | 2023-12-05 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

The special election to fill expelled Rep. George Santos' House seat will be Feb. 13, New York Gov. Until then, House Republicans will be down a vote, leaving them with an even narrower majority in the chamber than usual. "As Governor, I have the solemn responsibility to call a special election to ensure the voters of Long Island and Queens once again have representation in Congress," Hochul, a Democrat, said in a statement. The expulsion resolution was championed by a bloc of Santos' fellow New York Republicans. A bloc of Santos' fellow New York Republicans championed the expulsion resolution.

Persons: George Santos, Kathy Hochul, Tom Suozzi, Santos, Hochul Organizations: Capitol, Washington , D.C, House, New York Gov, House Republicans, Queens, Democratic, New York's, Santos, New York Democratic, New York Republicans, Republican, Congressional District, CNBC PRO Locations: Washington ,, Long Island, New York, Washington

☆ Massive city growth and climate change are twin opportunities, says manager of $40 billion fund
▼ + stars: | 2023-05-11 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +6 min

"Investing in infrastructure, climate-related technology is the future," Wahba told CNBC in a video interview in May. The road is made of bitumen," a derivative of an oil product, Wahba told CNBC. Each stage of that process poses an infrastructure climate problem. "There are very, very attractive returns," Wahba told CNBC. Of course, some climate investments are risky.

☆ Retailers bought so much stuff during the pandemic that it's overburdening warehouses — and it may be causing a 'freight recession,' analyst says
▼ + stars: | 2023-04-26 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

Executives at trucking giant JB Hunt recently sounded the alarm about a freight recession. Over-buying during the pandemic is depressing the demand for goods, which is impacting freight and transport. Executives at trucking giant JB Hunt sounded the alarm over a "freight recession" at a first-quarter conference call last week. A freight recession basically means there are fewer trucks delivering goods across America. Notably, the freight recession is not a US-only problem.

☆ Supreme Court gives New Jersey, shipping industry and unions a win in New York ports case
▼ + stars: | 2023-04-18 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

The Supreme Court ruled Tuesday that New Jersey can unilaterally withdraw from the longstanding Waterfront Commission Compact it has with New York to police corruption in the shipping industry in the major port the two states share. All nine of the Supreme Court's justices voted to dismiss arguments by New York in favor of forcing New Jersey to stay in the compact. "Since the first hours of our time in office, my Administration has steadfastly pursued the dissolution of the Waterfront Commission because it was the right thing to do," Murphy said. The two-member Waterfront Commission was created in 1953 by New York and New Jersey to address labor corruption in the Port of New York and New Jersey. New York claimed that the agreement "does not allow either State to unilaterally withdraw," Kavanaugh noted in his opinion.

☆ Whales are turning up dead on beaches — and our online shopping addiction is partly to blame
▼ + stars: | 2023-02-28 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +4 min

Nearly two dozen whales have washed up dead along the East Coast in recent months. Scientists blame it on climate change sending whales into the path of cargo ships. The surge in online shopping means ships are bigger and more plentiful than ever before. Two whales that washed up dead along the Atlantic Coast this month were determined to have been struck by vessels, USA Today reported. A year ago, scientists began calling for cargo ships to start rerouting in order to protect endangered blue whales that live off the coast of Sri Lanka.

☆ U.S. East Coast Port Workers Begin Early Contract Talks
▼ + stars: | 2023-02-07 | by ( Paul Berger | ) www.wsj.com time to read: +3 min

The International Longshoremen’s Association, which represents East Coast and Gulf Coast dockworkers, in September asked its locals to open talks with regional employer groups, said James McNamara, an ILA spokesman. A spokesman for the Pacific Maritime Association, which represents carriers and terminal operators on the West Coast, declined to comment. The Port of Houston and Georgia’s Port of Savannah have also benefited from freight diversions away from the West Coast. The West Coast labor talks have significant hurdles to overcome once the two sides resolve their regional disagreements, according to shipping industry officials. Shipping industry officials say the talks covering Gulf Coast and East Coast ports face fewer stumbling blocks.

☆ Port of New York shatters trade record, but latest shipping data hints at California comeback
▼ + stars: | 2023-01-25 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Containers sit at the GCT New York container terminal on Staten Island on October 20, 2022, in New York City. The Port of Long Beach moved 9.13 million TEUs last year. "These 9.5 million TEUs is more than 27% of 2019 levels," said Bethann Rooney, port director of the Port of New York and New Jersey. "This is not sustainable if we are going to handle 14 million TEUs in the not too distant future," she said. If they have stability on the West Coast, it doesn't really make sense to spend the extra two weeks crossing to go to the East Coast.

☆ Some supply chain managers are wary of shifting trade back to West Coast ports
▼ + stars: | 2023-01-03 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +2 min

Mario Tama | Getty ImagesNearly a third of logistics managers at major companies and trade groups say they do not know how much trade they would return to the West Coast once an International Longshore and Warehouse Union, or ILWU, labor deal is reached, according to CNBC's supply chain survey. Of those surveyed, 49% said they did not divert trade, compared to 40% who said they did. Zoom In Icon Arrows pointing outwardsOver half of those respondents told CNBC the main reason for moving trade away from the West Coast was the threat of an ILWU strike. About 40% cited both California's AB5 "gig worker" law, which concerns the employment status of drivers, and rail delays. Zoom In Icon Arrows pointing outwardsNegotiations between the ILWU and their employer, the Pacific Maritime Association, have been ongoing since May 10.

☆ Retailers Pull Back From Using Chartered Cargo Ships
▼ + stars: | 2022-12-23 | by ( Paul Berger | ) www.wsj.com time to read: +5 min

Retailers are moving away from using chartered ships to get around pandemic-triggered disruptions now that congestion at ports has cleared and pressures in supply chains have eased. A representative for Home Depot said it stopped using chartered vessels earlier this year as space opened up in global shipping. Party City started booking space on chartered vessels in mid-2021 in advance of Halloween, its busiest time of year, said Bruce Dzinski, Party City’s director of international transportation. Will Harwood, a spokesman for Lidl, said Tailwind owns two container ships and can carry additional cargo on other chartered vessels. Most other companies, like Home Depot and Costco, relied on third-party companies to operate chartered ships.

☆ East Coast ports including New York are winning a domestic trade war at the expense of California
▼ + stars: | 2022-12-15 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +10 min

According to ITS Logistics which monitors rail cargo trends, the volume of freight moving out of the East Coast doubles that of the West Coast. East Coast ports making major investments East Coast ports like Georgia, Virginia and Maryland have been increasing their investment to accommodate the increase in rail capacity. "CSX continues to see the East Coast ports as a growth opportunity as volumes shift from congested West coast gateways," said Cindy Schild, CSX spokesperson. West Coast port declinewatch nowCargo volumes on the West Coast remained soft at the Port of Los Angeles in November, which saw a 21% decrease year over year in volumes. While the East Coast gains are significant, there was a "leveling" off of imports detected on the East Coast in November, according to port TEU data from the CNBC Supply Chain Heat Map.

French container line CMA CGM sees the ownership of cargo terminals at U.S. ports as the next step in its bid to extend its shipping business into greater inland logistics. “Port terminals are an essential piece of the supply-chain efficiency, being at the crossroads of sea and land operations,” said Christine Cabau Woehrel, CMA CGM Group’s executive vice president of operations and assets. CMA CGM earned $17.9 billion in net profits in 2021 and its earnings in the first three quarters of this year reached more than $20.4 billion. The purchases come as CMA CGM is spending billions to buy logistics operations and more recently launch an airfreight service. China’s Cosco Shipping Ports has expanded its terminal operations around the world in concert with expansion by state-owned Cosco Shipping Lines.

☆ California Long Ruled U.S. Shipping. Importers Are Drifting East.
▼ + stars: | 2022-12-10 | by ( Paul Berger | Photographs David Walter Banks For The Wall Street Journal | ) www.wsj.com time to read: +13 min

Abercrombie & Fitch Co. is moving more merchandise through New York and New Jersey to avoid West Coast bottlenecks. It trailed its East Coast rival again in that measure during September and October, according to the Pacific Merchant Shipping Association and ports data. ”There are so many customers that got so screwed because they were entirely reliant on L.A. and Long Beach.”The logistical challenges of spreading imports along the East Coast and the Gulf Coast are massive. The shift in trade to the East Coast marks a return to where container ships originated. Then the U.S. began importing more goods from Europe, making an Atlantic Ocean crossing to various East Coast ports more critical.

☆ The busiest port in America is no longer on the West Coast
▼ + stars: | 2022-12-09 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +6 min

Since August, imports into the two major West Coast ports – Los Angeles and Long Beach – have declined. That cargo is now flowing into Gulf Coast ports like Savannah and New Orleans, and East Coast ports in New York and New Jersey. Around 20,000 dockworkers at West Coast ports, including Los Angeles and Long Beach, have been working without a contract since July 1. The jam at the West Coast ports delayed Americans getting goods and sent prices higher as demand outpaced supply. But until the labor dispute is resolved on the West Coast, it will be a challenge to lure importers back.

☆ France's CMA CGM to buy New York, New Jersey terminals from Canada's GCT
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

Dec 6 (Reuters) - CMA CGM, one of the world's largest container shipping lines, said on Tuesday that it has agreed to acquire two container terminals at the port of New York and New Jersey from Global Container Terminals (GCT), which will extend its presence in a crucial hub for trade. According to Bloomberg, which first reported the news, the deal could fetch around $3 billion. In a statement, CMA CGM said acquired ports in Staten Island, New York, and Bayonne, New Jersey, have a combined capacity of 2 million twenty-foot-equivalent units per year, and has a potential for further expansion, up to almost double capacity. Like its shipping rivals, CMA CGM has extended its presence along the logistics chain in port infrastructure and non-maritime transport services. Reporting by Kanjyik Ghosh and Akriti Sharma in Bengaluru; Editing by Christian Schmollinger and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ New York continues streak as nation's No. 1 port as LA cargo volume hits level not seen since 2009
▼ + stars: | 2022-11-17 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Earlier this week, the Port of Los Angeles posted its lowest level of October since 2009. "Firstly, shippers are still avoiding the West Coast to mitigate the risk of labor strikes at LA and Long Beach. According to Project44 data, total vessel TEU capacity deployed from Europe to the East Coast is up 15.5% compared to Oct 2021. CNBC Supply Chain Heat Map providers warned in the summer and fall of a decrease in manufacturing orders which has impacted the volume of shipping. The lesser container volumes are now being seen off the ports across the East Coast, including New York and New Jersey.

☆ Imports Into Southern California’s Ports Plunged 26% in October
▼ + stars: | 2022-11-15 | by ( Paul Berger | ) www.wsj.com time to read: +3 min

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. Importers have said they are avoiding West Coast ports because previous contract talks have turned contentious and led to cargo slowdowns. Over the past few months, several West Coast ports have experienced sporadic work disruptions, although port officials say overall container movements remain steady. The declines are a contrast to East Coast ports that continue to see strong cargo volumes. That has also contributed to the recent decline in cargo volumes during what is normally a peak season for ocean shipping.

☆ New York tops West Coast again as nation's No. 1 port in sign of permanent trade shift
▼ + stars: | 2022-10-27 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

The previous monthly data was the first time New York topped the West Coast and was being watched as a tipping point. Fears of a strike among West Coast port workers is one of the primary reasons behind the coastal shift in trade to the U.S. The freight railroads have shifted with the port trade trends as the East Coast has gained. "We expect the East Coast trend to continue, and our railroad is ready to deliver for more than half of the country's consumers and manufacturers," he said. As more trade has moved east, port congestion has come with it.

☆ Tensions rise in West Coast port labor battles, with unions and management trading accusations
▼ + stars: | 2022-09-28 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Tensions are rising in West Coast port labor battles as unions and port management trade accusations about worker productivity and the awarding of job assignments. Jerome Roberts, GVP of marketing at supply chain consulting company Blume Global, told CNBC the one shift protest had no lasting productivity impact. Logistics companies fear the latest round of accusations will only increase tensions for a supply chain and national port infrastructure already dealing with multiple labor concerns. Project44, which also collects and analyzes port productivity for the CNBC Supply Chain Heat Map, has tracked some recent issues at Seattle operations. Container dwell times at the Port of Oakland have been improving over the month of September, according to Josh Brazil, vice president of supply chain insights at Project44.

Search resuls for: "Port of New York"

25 mentions found