The anti-globalization and anti-trade rhetoric of the U.S. presidential election has become a primary economic threat to emerging countries, according to Bloomberg's Mohamed A. El-Erian .
United States GDP grew slightly more than initially expected in the first quarter of 2016, and durable goods orders ticked up in April, according to the most recent data from the Department of Commerce.
Meanwhile, the struggling South Korean ocean carrier said in a statement Sunday it expects to reach an agreement with ship owners regarding charter rate renegotiations “soon.”
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The Water Resources Development Act reauthorization includes provisions sought by the nation's port authorities related to how harbor deepening projects are funded, getting more money for maintenance dredging in the pipeline and authorizing new projects.
The locks are scheduled to undergo a technological upgrade this summer to replace a half-century-old master control system that opens and closes the waterway passage.
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.