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October 6, 2015 By Shannon Balliet

Trans-Pacific Partnership is reached

The United States, Japan and 10 other Pacific Rim nations on Monday reached final agreement on the largest regional trade accord in history, teeing up what could be the toughest fight President Obama will face in his final year in office: securing approval from Congress.

The conclusion of the Trans-Pacific Partnership, after years of negotiations and a series of sleepless nights here, was merely “an important first step,” conceded Michael B. Froman, the United States trade representative, as he and other weary officials announced their accord.

Now the deal faces months of scrutiny in Congress, where some bipartisan opposition was immediate. That debate will unfurl against the backdrop of a presidential campaign in which populist anti-trade talk against the deal is already prominent.

Still, for Mr. Obama the accord could be a legacy-making achievement, drawing together countries representing two-fifths of the global economy, from Canada and Chile to Japan and Australia, into a web of common rules governing trans-Pacific commerce. It is the capstone both of his economic agenda to expand exports and of his foreign policy “rebalance” toward closer relations with fast-growing eastern Asia, after years of American preoccupation with the Middle East and North Africa.

“When more than 95 percent of our potential customers live outside our borders, we can’t let countries like China write the rules of the global economy,” Mr. Obama said in a statement. “We should write those rules, opening new markets to American products while setting high standards for protecting workers and preserving our environment.”

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September 19, 2015 By Shannon Balliet

PortMiami dredge is done

A $205 million dredging project has been completed at PortMiami, though questions linger over the environmental costs.

The port channel is now 52 feet deep, allowing massive ships sailing through an expanded Panama Canal to bring cargo to Miami. Gov. Rick Scott says the expansion could bring about $7 billion to the region.

According to The Miami Herald (http://hrld.us/1gAEv4U ), Scott said Friday that the state would work with the U.S. Army Corps of Engineers to make address damage caused to coral in the channel and reefs off Miami Beach.

State and federal regulators found that the corps and its contractor caused more damage than expected.

Miami-Dade County Mayor Carlos Gimenez says the area will be monitored for damage for five years.

Read more here: http://www.miamiherald.com/news/business/article35817036.html#storylink=cpy

Filed Under: Ocean Freight https://ninjaforms.com/three/?utm_medium=plugin&utm_source=admin-notice&utm_campaign=Ninja+Forms+THREE&utm_content=Learn+More

September 6, 2015 By Shannon Balliet

China’s economy stumbles

Airports from Seattle to Amsterdam are reporting a falloff in cargo traffic to and from Asia, in what transportation executives and analysts say is a worrying sign for the health of global trade.

The data, released in recent days by the various airport authorities, marked the end a monthslong stretch of rapid growth in air-freight volume across the U.S. and Europe. The abrupt reversal demonstrated how rapidly economic problems in China and other emerging markets have reduced the flow of goods around the world.

China’s economy has stumbled this year. In early August, the country’s policy makers unexpectedly devalued the yuan, in hopes of boosting growth by reinvigorating exports. Chinese stock markets plummeted, triggering steep drops in share prices world-wide, amid fears that China’s woes would damp global growth.

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August 31, 2015 By Shannon Balliet

Cargojet, UPS reach services agreement

Cargojet Inc. (CJT.TO) announced that it entered into a new Air Cargo Service Agreement with United Parcel Service Canada Ltd. (UPS). The Agreement replaces the agreement originally entered into in 2003 to provide domestic overnight air cargo services throughout Canada.

“Cargojet is extremely pleased to have successfully extended our long-standing business relationship as the primary domestic air cargo service provider to UPS in Canada. Cargojet will continue to provide highly reliable and cost-effective overnight air cargo services to UPS,” said Ajay Virmani President and CEO of Cargojet.

The initial term of the agreement is for a ten-year period with two, three-year renewal options.

 

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August 14, 2015 By Shannon Balliet

Emirates has the longest flight with Panama route

Emirates is set to wrest the title of world’s longest airline route from Australia’s Qantas Airways Ltd. with a service between its Dubai hub and Panama City.

The flight will traverse 13,821 kilometers (8,590 miles), according to the Great Circle Mapper website, outstripping Qantas’s Sydney-Dallas route by 17km. Emirates will use a Boeing Co. 777-200LR — the longest-range jetliner — on the service, which will take 17 hours and 35 minutes, it said Thursday.

The longest-ever non-stop sector, operated by Singapore Airlines Ltd. to Newark, New Jersey, spanned 15,344km and took about 19 hours. The daily all-business-class service was halted in 2013 along with a 14,113km Los Angeles route, with analysts suggesting the flights weren’t viable with the aging four-engine Airbus Group SE A340 jets that the Asian carrier deployed.

For Emirates, Panama will serve as a gateway for onward business and tourist travel to cities across Central America, the Caribbean and northern South America, as well as providing capacity for imported electronics, machined products and drugs, Chairman Sheikh Ahmed bin Saeed Al Maktoum said in the release.

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