PetroChina will partner with Shell Canada, Korea Gas Corp. and Mitsubishi to develop a proposed liquefied natural gas (LNG) export facility near Kitimat, British Columbia, Canada, they said. Shell owns 40% of the project, with KOGAS, Mitsubishi and PetroChina each holding 20%. Under the agreement, LNG Canada will initially consist of two LNG processing units referred to as “trains,” each with the capacity to produce six million tons of LNG annually, with an option to expand the project to a total of four trains or 24 million tons per annum (mtpa). The partners hope for start up around the end of the decade, pending regulatory approvals and investment decisions, and also have begun an extensive consultation process with First Nations and local community residents.
Trade show producer Paul Mackler acquired the Border Security Expo from E.J. Krause & Associates, he said as he launched Eagle Eye Expositions trade show management production company. Mackler, who has been a trade show consultant for the past several years, said he looks forward to working with U.S. Customs & Border Protection and exhibitors on the show. Mackler previously was chairman of HMP Communications Holdings, CEO of Cygnus Business Media and president of Reed Exhibition Companies.
A new U.S.-EU trade pact to eliminate tariffs, converge regulations, and expand trade and investment would be the single most important step the transatlantic countries could take to spur growth and jobs on both sides of the Atlantic, said U.S. Chamber of Commerce President Thomas Donohue May 16 in an address to the Ireland Business and Employers Confederation in Dublin.
Balqon Corp. said it received a $630,000 contract from the Port of Los Angeles to retrofit six electric powered yard tractors, converting battery packs from lead acid batteries to higher energy density lithium batteries to increase the daily range of the vehicles. For the past eight months, Balqon and POLA have been jointly testing two yard tractors fitted with Balqon’s next generation lithium battery system at a local intermodal facility, it said.
Imports of shipped cargo will continue to show modest growth in 2012, said the "PIERS NVOCC Market Report--Import Market Dynamics 2011 vs. 2010." But the report said NVOCC-arranged imports showed higher growth than the overall U.S. inbound ocean liner market. NVOCC-arranged import volume grew 2.8 percent in 2011, while traditional carrier cargo volume grew by 2.2 percent, the report said. NVOCC-associated cargo value in 2011 increased by 1.9 percent compared to an overall containerized import cargo value increase of 1.7 percent. The remainder of 2012 is not expected to show markedly better performance for the NVOCC industry, the report said. Global growth is forecasted to be 2.5 percent-4.2 percent.
The Export-Import Bank of the U.S. approved a guarantee of a $350 million loan to assist Textron in financing the exports by two of its companies, Cessna Aircraft Company and Bell Helicopter Textron to international customers. The guaranteed lender is PNC Bank in Pittsburgh. The repayment term is 12 years. The loans will be disbursed on a periodic basis, Ex-Im said. Ex-Im Bank Chairman Fred Hochberg also announced that Ex-Im Bank has approved a new credit process to facilitate and expedite the Bank's financing for business-aircraft and helicopter exports from other U.S. manufacturers that do not have a captive financing company. Under the new process, Ex-Im Bank will work with qualified industry experts to perform due diligence and credit analysis for these business-aircraft and helicopter transactions.
The National Custom Brokers and Forwarders Association of America plans to reconstitute its NCBFAA Educational Institute (NEI), said NEI Chairman Ken Bargteil. Those interested in boosting the continuing education and the enhancement of professionalism and expertise of brokers and forwarders should provide their name, NCBFAA area, company name, job title, email and postal address, office and cell phone numbers. NCBFAA also said they should indicate their areas of interests: CCS and/or CES; and Subcommittee preference: Content, Administration, Policy. Responses should be sent to memb@ncbfaa.org. The NCBFAA board also added 22 members; the list is here. It also announced its 2012 committee roster (here).
FedEx said it agreed to buy French business-to-business express transportation company TATEX Express, in the latest FedEx investment in Europe. This deal is subject to regulatory approvals and customary conditions. The terms weren't announced. Privately-held TATEX has more than 1,000 employees and a nationwide network with a central hub at Lieusaint, just south of Paris, and 35 shipping centers including six regional hubs. It has a nationwide domestic ground network which carries 19 million shipments and produces approximately EUR 150 million in revenue annually. FedEx Express recently announced plans to acquire Opek Sp.z o.o., a Polish shipping company.
The amount of freight carried by for-hire transporters fell 0.8% in March from February, according to the U.S. Department of Transportation’s Bureau of Transportation Statistics’ (BTS) Freight Transportation Services Index. The March level was 16% above the April 2009 low, but the index of 109.4 was below December 2011’s 113.7.
Cryoport Inc. said it signed an agreement with Pan Asia Logistics to open its Asian Operations Center in Singapore. Pan Asia is to provide warehousing, shipping, receiving, order entry and fulfillment, and refurbishing and recycling of Cryoport’s liquid nitrogen dry vapor shipping containers, under the deal. “Shipments of life science and biological material are growing at a strong double digit growth rate in Asia, and our partnership with Pan Asia Logistics will significantly enhance our ability to expand our services within our current customer base and drive new business," said Cryoport Chairman Stephen Wasserman.