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The Federal Maritime Commission found the Northwest Seaport Alliance is not likely to reduce competition or result in an unreasonable increase in cost or reduction in service.
Hapag-Lloyd has reportedly picked Deutsche Bank, Goldman Sachs and Berenberg to assist it with an initial public offering, fueling speculation the German ocean carrier is accelerating its plan for a public float.
The parcel giant's acquisition of Chicago-based freight brokerage is intended to leverage Coyote's freight optimization technology and network of 35,000 carriers and 12,000 customers.
The MacArthur Lock, one of the two actively used locks that enable ships to travel between Lake Superior and the lower Great Lakes, will be closed for at least 10 days due to a malfunctioning gate.
Brent crude, considered by most analysts to be the global benchmark for oil prices, fell below $50 a barrel for the first time since January amid slowing demand growth and growing global oversupply.
The Maritime Administration's hoarding of proceeds from vessel sales, refusal to distribute maritime heritage grant funds and continued stonewalling of FOIA requests presents a troubling picture. And it’s not one of a transparent agency.