Trump warns China Against Trade Talk Delays
U.S. President Donald Trump on Tuesday warned he would be "tougher" on Beijing in a second term if trade talks dragged on, compounding market fears that ongoing trade disputes between the United States and China could trigger a U.S. recession.The world's two largest economies imposed fresh tariffs on each other on Sunday, ratcheting up a tit-for-tat tariff war that has unsettled financial markets and raised the specter of a global recession. U.S. and Chinese negotiators are due to meet in person in Washington this month, but no date has yet been set.U.S.
China Will Hit Back After New US Tariffs
China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in their trade dispute, threatening 10 percent tariffs on $200 billion of Chinese goods.China's commerce ministry said on Wednesday it was "shocked" and would complain to the World Trade Organisation, but did not immediately say how it would retaliate. In a statement, it called the U.S. actions "completely unacceptable".The foreign ministry described Washington's…
Trump Administration's Infrastructure Plan Taking Shape
The Trump administration is finalizing its long-awaited infrastructure plan, which would push most of the financing of projects to private investment and state and local taxpayers, according to sources familiar with the proposal taking shape. President Donald Trump, who spoke frequently of improving U.S. infrastructure during his 2016 campaign, may preview the plan in his Jan. 30 State of the Union address, but details are not expected until afterward, the sources said. Two people…
Caterpillar CFO to Retire in 2018
Caterpillar Inc. will begin its global, external search for a new chief financial officer after it announced that group president and CFO Brad Halverson has elected to retire in early 2018, concluding a career spanning more than three decades with the company. Halverson will continue working into early 2018 and will help ensure a smooth transition for the new CFO. Prior to becoming CFO, Halverson served two years as vice president of the Finance Services Division, and before that position, he was the corporate controller. Halverson joined Caterpillar in 1988 as an accountant.
Safeguarding GPS When Global Positioning Doesn’t Work
Suppose the Global Positioning System (GPS) receivers used for your vessel, offshore oil platform, or port facility could not generate position data needed for your operations. How would your crew or staff respond? Initial troubleshooting efforts may indicate equipment failures, antenna masking, or possibly human error. Additionally, the lack of position data will likely force your crew or staff to resort to secondary means to obtain position information. If position data cannot be regained, then the receivers may have lost GPS due to intentional or unintentional interference.
MTU Plant 'S.C. Manufacturer of the Year’
The MTU Aiken Plant, which produces world-class diesel engines and components, has been named South Carolina Chamber of Commerce‘s 2014 Small/Medium Manufacturer of the Year. The facility is operated by MTU America Inc. The MTU brand is part of Rolls-Royce Power Systems within the Marine and Industrial Power Systems division of Rolls-Royce. The award was presented during the inaugural Palmetto Vision Awards Gala held on 18 September at the Marriott Columbia. This prestigious recognition – presented by the nation’s first state chamber Accredited with Distinction by the U.S.
In Support of Affordable Energy
As its key mission, Waterways Council, Inc. (WCI) advocates for a modern and well-maintained system of inland waterways and ports. WCI’s top issues areas include the implementation of waterways’ improvement legislation in the recently enacted WRRDA; remembering Rivers (the Fourth “R”) among Rail, Roadways and Runways; improving the reliability of the waterways system and properly funding its Operations & Maintenance; assuring navigation reliability during times of flooding and drought; and supporting a balanced approach to invasive aquatic species. But WCI has added another critically important issue to its portfolio: supporting affordable energy options. American consumers deserve affordable options for electricity, including our nation’s ever-abundant supply of coal.
Coalition Asks Senate for Vessel Discharge Legislation
On June 20, a diverse coalition of 58 national and regional organizations representing a wide array of leading business, maritime and labor organizations signed on to a letter to Senate Commerce, Science and Transportation Committee Chairman John Rockefeller (D-W.Va.) and Ranking Member John Thune (R-SD) urging that the committee mark up and approve S. 2094, a bill that would establish a uniform, science-based national framework for the regulation of ballast water and other vessel discharges. S. 2094, introduced on March 6 by Sens.
U.S. Senate passes $12.3 billion WRRDA Bill
The U.S. Senate on Thursday overwhelmingly approved legislation that authorizes spending on inland waterways and port infrastructure, and tackles flood protection and measures to limit damage from storms. The Water Resources Reform and Development Act (WRRDA) passed by 91 to 7 after being approved by the House of Representatives on Tuesday in a lopsided vote of 412 to 4. It now goes to President Barack Obama, who is expected to sign it into law. The $12.3 billion bill, the first major U.S.
AAPA Hails U.S. House Passage of WRRDA
Citing it as a major victory for ports, the American Association of Port Authorities is hailing passage in the U.S. House today of H.R. 3080, the Water Resources Reform and Development Act (WRRDA). The U.S. Senate will vote on the bill this Thursday, where easy passage is expected. House Transportation and Infrastructure (T&I) Committee Chairman Bill Shuster (R-PA), a major WRRDA champion, cited the bill for cutting red tape, strengthening trade and creating jobs. AAPA President and CEO Kurt Nagle said, “We’re extremely pleased that WRRDA passed the House today. Mr.
Give Iran Talks A Chance - Merkel
German Chancellor Angela Merkel said on Friday negotiations with Iran over its nuclear program have to be given a chance, but sanctions could still be reinstated if needed. Merkel said Iran had to comply with an agreement under which Tehran agreed to limit parts of its nuclear work in return for the easing of some sanctions. "If Iran does not meet its obligations, or does not meet them adequately, we remain ready to take back the current limited suspension of sanctions," she said at a U.S. Chamber of Commerce event.
Industry Urges Senate for Vessel Discharge Legislation
On March 13, a diverse coalition of 59 national and regional organizations representing a wide array of business, maritime and labor interests signed on to a letter to Senate Commerce, Science and Transportation Committee leadership, Chairman John Rockefeller (D-WV) and Ranking Member John Thune (R-SD), thanking them for cosponsoring S. 2094, a bill that would establish a uniform national framework for the regulation of ballast water and other vessel discharges, and urging swift Committee consideration and approval. S. 2094, introduced on March 6 by Sens. Mark Begich (D-AK) and Marco Rubio (R-FL), has 23 bipartisan co-sponsors, nearly one-quarter of the Senate.
OPIC Awards Ellicott for Dredge Work in Iraq
In a ceremony at the U.S. Chamber of Commerce, the Overseas Private Investment Corporation’s (OPIC) President and Chief Executive Officer Elizabeth L. Littlefield presented Ellicott Dredge Enterprises, LLC and its Ellicott Dredges LLC entity with OPIC’s inaugural “Impact Award” for Ellicott’s work in Iraq. Ellicott was one of only eight organizations across the country receiving this award from OPIC, the U.S. Government’s development finance institution. With the assistance of political risk insurance from OPIC…
Louisiana Cargo Transfer Terminal Approved
Approval clears way to create nation’s largest deepwater containerized cargo transfer terminal, enhancing U.S. competitiveness as Panama Canal expands. Transshipment facility off Louisiana coast intended to improve America’s strained shipping infrastructure, streamline international trade flow and create long-term jobs in 32 states. Louisiana State Senator A.G. Crowe’s vision of making America more competitive and capitalizing on the Gulf of Mexico’s deep-water resources has taken…
World Bank Offers to Aid Jamaica's Logistics Hub Plans
Jamaica’s plans to become one of the world’s top four logistics centres has received a major boost after the World Bank committed to providing technical and other assistance for specific aspects of the proposed Global Logistics Hub initiative. The World Bank Group, through its representative to Jamaica, Giorgio Valentini, has endorsed the Government of Jamaica’s plans for the logistics hub initiative, describing it as ‘transformational’ when implemented which will significantly enhance Jamaica’s potential for growth. A 16 person delegation from the World Bank Group visited Jamaica last month for consultations on Jamaica’s Country Partnership Strategy which will feature the Logistics Hub Initiative.
Movement of $7 Billion in Commodities in Jeopardy
The American Waterways Operators and Waterways Council, Inc. continue to warn Congress and the Administration of the economic effects that the nation’s midsection would face in the wake of further navigation restrictions or possible Mississippi River closure to barge traffic in mid-December. States along the river would see an immediate impact on jobs and wages, and the potential toll would be harshest in Louisiana, Illinois and Missouri, with thousands of impacted jobs and tens…
Law of the Sea Treaty Heads Arctic Challenges for U.S.
The melting polar icecap is presenting both opportunities and challenges for the United States and other Arctic nations, as well as other nations with interests in the region. Arctic ice cover has declined consistently over the past few decades. Increased accessibility, dubbed an “emerging maritime frontier” by U.S. Coast Guard Commandant Admiral Robert J. Papp, Jr., presents a host of opportunities for oil and gas development, fishing, tourism, and transportation. It also creates myriad challenges related to Arctic governance, marine safety, indigenous populations, scientific research, and environmental stewardship. This article reviews the state of play regarding claims to the Arctic and the U.S.
BRAZIL: U.S. Find New Opportunities
While the U.S. economy may be in the doldrums, smart U.S. companies are looking increasingly to exports to help their bottom lines. A major market for U.S. exports is Brazil. This article examines new market opportunities in the oil and gas, shipbuilding and port infrastructure in Brazil, and identifies certain financing sources available to U.S. companies seeking to participate in these markets. Brazil’s growth in recent years has been amazing. Over the past 5 years, real GDP growth in Brazil has averaged 4.3% annually (as compared to 1.3% annually in the U.S.), reaching 7.5% in 2010.
Horizon Lines Expands Board of Directors
Board to expand to eleven from eight; seven New Board Members Join Four Existing Directors; Four Directors Retire. Horizon Lines, a domestic ocean shipping company, today announced that it will expand its Board of Directors to 11 members from eight, effective November 25, 2011. In conjunction with the expansion, seven new directors will be appointed and four of the existing eight directors will retire. • Jeffrey A. Brodsky, Kurt M. Cellar, Carol B. Hallett, James LaChance, Steven L. Rubin, Martin Tuchman and David N. Weinstein will join the board as independent directors.
Ellicot Dredges 2008 Annual Report
In 2008 Ellicott Dredge Enterprises and its product units Ellicott Dredges, Mud Cat, IMS dredges, and Liquid Waste Technology (LWT) sold close to 100 dredges in over 20 countries. The company introduced new dredge products with more underway. The company's new plant in Wisconsin near Minneapolis is in full production. Egypt: Sale via a Bechtel affiliate of two LWT remote-controlled dredges to maintain power plant intake cooling water access channels at two power plants, Nubaria and El Tebbin. The Nubaria sale is itself a follow-on order.
AAPA: Ports Concerned about Security
Public seaports across the United States are weighing in this week on the Administration's requested Fiscal Year 2006 federal budget. Ports are deeply concerned about recommended elimination of the Department of Homeland Security's Port Security Grant Program by lumping it into a sweeping new program that combines the security infrastructure needs of seaports with those of trains, trucks, busses and other public transit. In addition, ports are concerned about the Administration's proposed budget, which would significantly under-fund the U.S. Army Corps of Engineers' Civil Works program and needed deep-draft dredging projects. "Protecting America's marine facilities from acts of terrorism must be a top Administration priority and a shared responsibility between the ports…