The Stifel Logistics Confidence Index - which measure logistics industry outlook - has reached its 14 consecutive months of negative confidence, with the numbers suggesting this will continue into 2017. As reflected by the performance of the Index, global trade remains at a low ebb, as it has for some time.
Two months after a similar move by FedEx, UPS has announced changes to its dimensional weight pricing schedule. FedEx plans to decrease its DIM divisor from 166 to 139 as of Jan. 2, effectively increasing the shipping costs on millions of e-commerce parcels. UPS is also lowering its divisor to 139 as of Jan. 8, but is exempting domestic air and ground parcels that are less than one cubic foot (1,728 cubic inches).
The growing adoption of hybrid electric powertrain systems and the projected growth in the number of vessels burning liquefied natural gas as fuel, could lead to wider adoption of fuel cells with LNG-fuelled engines becoming the stepping stone for the wide adoption of LNG-fuelled fuel cells as prime movers.
South Korea's Hanjin Shipping Co Ltd said last week it decided to sell part of its container ship business to Korea Line Corp for 37bn Korean won ($31m).
An official inquiry into the explosion on the scrapped FPSO Aces confirmed that the massive blast was caused by hundreds of thousands of gallons of petroleum products on board. The inquiry, as reported by local media, said that about 375,000 gallons of fuel and 425,000 gallons of lubricants were on board the vessel.
More than a quarter of all goods traded between the UK and Europe, worth around £91.4bn ($113.82bn) a year, come through the Channel Tunnel, a report has found. In its report, "Economic Footprint of the Channel Tunnel Fixed Link," Ernst & Young found that 30 percent of UK exports, worth £43.6bn ($54.3bn), and 22 percent of imports, worth £47.8bn ($59.53bn), to and from the EU depend on the tunnel.
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