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Philip Seng, president and CEO of the U.S. Meat Export Federation, warned the U.S. meat industry is rapidly falling behind its competitors in the lucrative Chinese market.
Neptune Orient Line, the parent company of ocean carrier APL, said it remains focused on its core liner business.
A bipartisan Senate bill would set transport policy and investment for six years, but is only funded for three years using money that would be redirected from other parts of the government.
The second quarter financial results of ocean carriers NYK, MOL and "K" Line reflected a weak Asia-Europe market and strong supply pressure.
The U.S. Senate also passed a long-term highway bill that will be debated by the House after the summer break.
The European Commission will now conduct an in-depth analysis under the EU's merger regulations before coming to a decision on FedEx's $4.8 billion offer to buy TNT.