Global airfreight demand grew at its fastest pace in 18 months thanks primarily to the August bankruptcy announcement by South Korean ocean carrier Hanjin Shipping, as well as some last-minute shipping resulting from higher-than-expected order levels.
The four-year contract is scheduled to take effect on Dec. 19 and includes an initial increase in base wages for Captains and First Officers of more than 55 to 75 percent, with additional yearly wages.
The Rhode Island Department of Transportation is asking for proposals from firms to design, build, operate and maintain electronic tolling facilities for the state's truck-only tolling program, which has been met with protests from industry organizations.
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Following Hanjin Shipping filing for receivership, Hyundai Merchant Marine will start up two new services, one between Korea and the U.S. and one between Korea and Europe.
The Federal Maritime Commission said Friday it concluded its review of the proposed OCEAN Alliance, allowing the new ocean carrier alliance to take effect Monday, although it is not expected to commence operations until around April 2017.
Various media reports have speculated the sale of South Korean liner carrier Hanjin Shipping, viewing COSCO and Maersk Line as possible buyers.