American Shipper’s sister publication, the Adam Smith Project, wrote Monday about the dangers of recalibrating trade statistics to suit policy initiatives.
Chief Executive Officer Ted Fick resigned earlier this month amid a Washington State Auditor's Office investigation into an alleged $4.8 million in potentially illegal payouts to port employees.
Michael J. Ward and Clarence W. Gooden, chief executive officer and president of CSX, respectively, will retire from the company May 31, 2017, the Jacksonville, Fla.-based Class I railroad said in a statement.
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Hyundai Merchant Marine said it expects to receive funding from a new South Korean government shipping entity, which will buy and charter back vessels to the shipping company.
A fire broke out in the engine room of the Alliance St. Louis on early Monday morning in the Gulf of Mexico.
Federal Maritime Commissioner Rebecca Dye said the reduction from four to three major container shipping alliances should decrease rates on the transpacific trade, but the decline could be offset by upward rate pressure due to expected mergers.