Without clear carbon controls from the International Maritime Organization, the shipping industry may have to adhere to multiple sets of regional regulations, according to Esben Poulsson, chairman of the International Chamber of Shipping.
The Warren, Mich.-based trucking carrier and third-party logistics provider saw net income plummet 39.2 percent year-over-year to $24.2 million as revenues slid 5 percent to $1.07 billion, according to the company’s most recent financial statements.
Hyundai Heavy Industries’ shareholders on Monday voted to approve the company’s restructuring plans despite strong union opposition.
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The largest cargo gateway on the U.S. East Coast handled 4.56 million TEUs of loaded containers for the full year, a 1 percent decline from 2015 levels, according to recent data from the Port Authority of New York and New Jersey.
International Longshoremen's Association President Harold Daggett said he will seek help from Congress in union disputes with the South Carolina Ports Authority and the Waterfront Commission of New York Harbor.
The state Board of Public Works gave the Maryland Port Administration the go ahead to spend up to $92.5 million to acquire a 103-acre parcel at Point Breeze for Port of Baltimore’s Seagirt Marine Terminal, a spokesperson for the MPA confirmed Friday.