Thanks to limited competition and favorable regulations, all major North American railroads were able to enact rate increases earlier this year even as freight volumes fell the most since 2009.
Crude oil prices have risen about 60 percent from a 2016 low, but the risk that prices will again fall is forcing Maersk’s oil unit to explore bigger cost cuts than previously planned, according to group CEO Nils Smedegaard Andersen.
Maersk and UASC have both signed agreements to work with Qatar Liquefied Gas Co. and Royal Dutch Shell Plc to develop liquid natural gas as a maritime fuel.
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The U.S. Department of Commerce has appointed 11 industry representatives to the agency's joined the Advisory Committee on Supply Chain Competitiveness.
The U.S. Justice Department said an arrest was made in New York this week of a Chinese businessman who attempted to obtain and illegally export military-grade carbon fiber to China without a license.
Federal Maritime Commissioner William P. Doyle praised the statement from ocean carrier group OCEMA, but noted officials "still need to address an important liability issue for the shippers" in order to implement new verified gross mass requirements.