Two Trillion Dollar Infrastructure Investment Planned
Following Tuesday’s meeting at the White House, the American Trucking Association (ATA) believes a fuel tax may be necessary for infrastructure repair funding. Truckers currently account for nearly half of the contributions to the Federal Highway Trust Fund, which funds improvements to highways, bridges and transit. Read more here.
Port of Houston Accounts for 10 Percent of United States’ Port-Supported Jobs
According to a report prepared by Martin Associates, 1.4 million people held jobs that were related to the transport of cargo through the Port of Houston in 2018. In the same year, The Port of Houston produced just under $802 billion in U.S. economic value. Read more here.
OOCL’s Long Beach Container Terminal to Sell for $1.78 Billion
After being acquired by China Ocean Shipping Company Limited (COSCO), OOCL entered a National Security Agreement with the U.S. that led to the sale of the terminal. Learn more here.
Drought Impacts Panama Canal Shipping
According to the Associated Press, Panama’s Gatun Lake is experiencing exceptionally low water levels due to an extreme drought. Consequently, The Panama Canal Authority has sanctioned limitations for ships traveling through the channel. Learn more here.
IMO Urged to Reduce Emissions By Implementing Global Speed Limit
The CEOs of 100+ international shipping companies wrote a letter to the IMO (International Maritime Organization) asking it to put carbon-saving global speed limits into effect. According to the IMO, 2.2 percent of global carbon dioxide emissions were the result of international shipping. Read more here.
Walmart Launches New Intelligent Retail Lab Store
Walmart unveiled its new AI-powered retail location in Levittown, NY. The store plans to utilize artificial intelligence to oversee its stock, monitor the freshness of perishable goods and provide a more efficient experience for customers. Learn more about the store.
U.S. GDP Reaches Growth of 3.2 Percent in Q1 2019
According to the Bureau of Economic Analysis, the U.S. economy’s Q1 growth has surpassed three percent for the first time since 2015. Learn more here.
Statistic of the Week
The record volume of ethanol exported daily from the U.S. in 2018, according to the U.S. Energy Information Administration. Click here to see more.
Links of the Week
Catch up with the Ascent Global Logistics team at the below upcoming events:
2019 PPAI EXPO EAST
Atlantic City, NJ – June 3-5, 2019
2019 3PL AND SUPPLY CHAIN SUMMIT
Atlanta, GA – June 10-12, 2019
International Holiday Calendar