The U.S. Department of Transportation is looking into how delays at ports and other loading and unloading facilities may be affecting driver compliance with hours-of-service rules designed to increase safety.
Union Pacific’s failure to maintain its track and equipment resulted in broken and sheared lag bolts, which caused the June 3 derailment of a train near Mosier, Ore., according to a preliminary report from the Federal Railroad Administration.
Meanwhile, the pound slid the most on record to its weakest since 1985, while the yen rallied on demand for haven assets, following Britain’s vote to leave the European Union.
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The proposed ocean carrier alliance will include Hapag-Lloyd of Germany; Japan's MOL, NYK and "K" Line; Taiwan-based Yang Ming; and South Korean line Hanjin, and could potentially add Dubai-based UASC and Korea's HMM down the road.
Neither Ports America nor owner Oaktree Capital will discuss a possible sale of the nation's largest port terminal operator, but Yildirim Holdings President Robert Yildirim said talks have advanced to the "second round."
Taiwanese ocean carrier Yang Ming Transport Corp. named former Evergreen Line executive Bronson Hsieh as its new chairman.