The Subcommittee on Coast Guard and Maritime Transportation will hear an argument that foreign carriers should not be permitted to collectively negotiate rates with domestic maritime service providers because it gives them an unfair advantage.
The Pacific Maritime Association has proposed extending the contract until July 1, 2022, with a 3.1 percent yearly wage increase over the base wage rate of $42.18 per hour.
The North Liberty, Iowa-based trucking and logistics company reported a net income of $14 million and operating revenues of $130 million for the first quarter of 2017.
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Ocean carriers entering the market in 2010 and 2011 had a tough time, but SM Line said it believes it is timing its entrance into the transpacific market well, noting how freight rates are improving.
Fellow Hamburg-based containership owners Leonhardt & Blumberg and Buss Shipping have agreed to form a new joint ship management venture that will sport a fleet of 55 feeder-size vessels, the firms said in a joint statement.
The U.S. Department of Justice served several container shipping lines with subpoenas last week in Sausalito, Calif., where their top executives were attending industry meetings.