Monday Minute 2/1/2016

News from around the web!


This is the Biggest Container Ship Ever to Dock in the U.S.

By REBECCA WRIGHT and MATT RIVERS, 2 KTUU (CNN Money affiliate)

Shortly after 4 a.m., the Benjamin Franklin starts to pull away from port in Xiamen, southeastern China, en route to Los Angeles.

At just over 398 meters (435 yards) long, it’s one of the biggest vessels in the world. Standing on its end, it would dwarf the Eiffel Tower.

It’s also the biggest container ship ever to dock in a U.S. port.

Read more: http://www.ktuu.com/news/business/this-is-the-biggest-container-ship-ever-to-dock-in-the-us/37745102


After 40-year ban, U.S. starts exporting crude oil

By MATT EGAN, CNN Money

America is wasting little time getting back into the oil exporting business.

Just weeks after Congress lifted a 40-year ban on exporting oil, the first shipments of the black stuff left U.S. ports for Europe.

The first freely-traded shipments of U.S. crude are symbolic of the country’s newfound role as a leading producer of oil. America’s entry into the world market can also be viewed with relief by those worried about potential supply disruptions. After all, many big oil producers are located in volatile parts of the world susceptible to geopolitical shocks.

Read more: http://money.cnn.com/2016/01/29/investing/us-oil-exports-begin/index.html?iid=hp-stack-dom


Work Resumes at Major Ports Following Strikes by Some Port Workers

By JILL DUNN, Commercial Carrier Journal

Longshoremen began returning work Friday at New York and New Jersey ports from a “wildcat” strike that began that day.

Port officials had begun barring trucks from lining up on port roadways 11 a.m., only a few minutes after announcing the surprise work stoppage. A little later, the port authority said that full operation was being restored, “thanks to the expedient efforts of the New York Shipping Association and the International Longshoremen’s Association.”

Port gates will open as scheduled Sunday, it said.

Read more: http://www.ccjdigital.com/work-resumes-at-major-ports-following-strikes-by-some-port-workers/

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