Courts Order West Coast Ports to Open

Wednesday, October 09, 2002
West Coast ports which have suffered a work stoppage for over a week, are set to reopen today. Yesterday afternoon, a federal judge issued an injunction to force the ports to reopen. President Bush asked for an 80-day cooling off period in order to attempt to clear the backlog from more than 200 ships loaded with cargo that have been unable to offload shipping containers or take on new cargo. The port closures are "hurting truckers, rail operators ... it's hurting farmers, ranchers and manufacturers and retailers and consumers," President George W. Bush said earlier Tuesday in announcing he would seek the re-opening of the ports under the Taft-Hartley Act, last imposed during a coal mine strike in 1978. Twenty-nine ports from San Diego to Seattle closed September 27 in a labor dispute with the International Longshore and Warehouse Union.

Finance

China COSCO Falls to H1 Net Loss

China COSCO Holdings Co Ltd fell to a first-half loss hurt by a persistent slump in the global container market, the world's fourth largest container shipper said on Thursday.

Weak Freight Rates push Grindrod to H1 loss

Africa's biggest shipping group Grindrod reported a first-half loss on Thursday, pressured by low global growth and declining dry bulk shipping rates but it expects

Cosco Eyes Spanish port of Algeciras

Algeciras Bay Port Authority in southern Spain has put up a tender for its third container terminal, and China's Cosco Shipping Ports is already being mentioned as a fore runner candidate,

 
 
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