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The ocean carrier will take delivery of two 3,600-TEU containerships from Aker Philadelphia Shipyard Inc. that are currently expected to be delivered in the third and fourth quarters of 2018.
The U.S. Department of Commerce’s Bureau of Economic Analysis revised a previous prediction of a 3.7 percent annual growth rate in second quarter gross domestic product to a 3.9 percent increase.
In a separate action, warehouse workers began a strike Tuesday morning against California Cartage warehouse in Los Angeles.
TOTE says "While this reflects that the ship was caught in rough seas and extreme weather, it is in no way indicative of the ship’s fate."
Rep. Stephen Fincher, R-Tenn., introduced a bill that would restore Ex-Im Bank’s operations and include various reforms, but will require a "discharge process" to reach the House floor for a vote.
The company’s minority investment in e-commerce specialist Ally Commerce Inc. is more about research than revenues, according to Rimas Kapeskas, head of UPS’s strategic enterprise fund.