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Shipment volumes and payments for the month showed continued growth but remained below 2014 levels, according to the latest Cass Freight Index Report.
“We’re reaping the benefits of a strong regional economy and labor uncertainty on the West Coast,” New York and New Jersey Port Director Richard Larrabee said of the results.
Neptune Orient Lines, parent of ocean carrier APL, is "totally focused" on returning the liner business to profitability, NOL CEO Ng Yat Chung said during a call with securities analysts.
The second quarter financial results of ocean carriers NYK, MOL and "K" Line reflected a weak Asia-Europe market and strong supply pressure.
The U.S. Senate also passed a long-term highway bill that will be debated by the House after the summer break.
The European Commission will now conduct an in-depth analysis under the EU's merger regulations before coming to a decision on FedEx's $4.8 billion offer to buy TNT.