AUGUST 18, 2015

BUDGET/FINANCES 

Port of Olympia faces budget reality

Zachariah Bryan, August 18, 2015, Business Examiner

The alarms haven’t sounded quite yet, but the pressure is mounting for Port of Olympia as the international market causes it to dramatically scale back expectations.

At its seaport operations, the port is far behind where it was this time last year. A total of 13 vessels have called at Olympia year-to-date this year, compared to 21 last year. Eleven of those are exports for logs (compared to 14 in 2014) and two for importing of general cargo (there were seven last year.)

Read more: http://www.businessexaminer.com/August-2015/Port-of-Olympia-faces-budget-reality/

 

TRADE 

Merger of China’s COSCO, CSCL carriers could drain cargo from Seattle terminals

Don Wilson, August 18, 2015, Puget Sound Business Journal

China’s two biggest ocean carriers may merge into a new industry goliath, and that may not be good news for the Port of Seattle.

Rumors have been heating up in recent days about a pending merger between China Ocean Shipping Company, generally called COSCO, and China Shipping Container Lines, known as CSCL.

If the two companies merge, the question will be whether the new larger ocean carrier will stay at the Port of Seattle, or if it will go to the Port of Tacoma.

Read more: http://www.bizjournals.com/seattle/news/2015/08/18/merger-of-china-s-cosco-and-cscl-carriers-could.html

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