SEPTEMBER 2, 2016

BUDGET/FINANCES

Hanjin bankrupt:  Shippers, retailers, Northwest ports struggle to keep goods moving

Daniel DeMay, September 1, 2016, The Seattle Times

Northwest ports, markets and retailers are scrambling after Hanjin Shipping Inc. filed for bankruptcy protection Wednesday.

The South Korean company, one of the largest shippers in the world, has stopped accepting cargo and ports around the world are turning its ships away, likely because of fears the company won’t pay fees associated with handling the cargo.

Hanjin is the largest customer at Seattle’s Terminal 46, but as of 2 p.m. Wednesday, the terminal posted an alert saying it would not receive any Hanjin deliveries, and Husky Terminal in Tacoma is not accepting any exports or empty containers, but would unload imports.

Read more here:  http://www.seattlepi.com/business/article/Hanjin-bankrupt-Shippers-retailers-ports-9198343.php

 

RAIL

Moses Lake rail project facing planning, financing problems

Devin Higgins, September 2, 2016, iFiberOne.com

A project to connect the Port of Moses Lake to an industrial rail line is facing difficulties.

The state legislature provided $21 million for the Northern Columbia Basin Railroad Project as part of the $15.1 billion transportation package approved in 2015. The project includes building a new rail line through the Wheeler corridor.

Port of Moses Lake Executive Director Jeffrey Bishop said the project is estimated to cost about $29 million and attempts to secure more money through federal grants have been unsuccessful.

Read more here:  http://www.ifiberone.com/news/moses-lake-rail-project-facing-planning-financing-problems/article_629be744-70a0-11e6-a4fa-a3b42ef427fa.html

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