American Shipper’s sister publication, the Adam Smith Project, wrote Monday about the dangers of recalibrating trade statistics to suit policy initiatives.
Chief Executive Officer Ted Fick resigned earlier this month amid a Washington State Auditor's Office investigation into an alleged $4.8 million in potentially illegal payouts to port employees.
Michael J. Ward and Clarence W. Gooden, chief executive officer and president of CSX, respectively, will retire from the company May 31, 2017, the Jacksonville, Fla.-based Class I railroad said in a statement.
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Federal Maritime Commissioner Rebecca Dye said the reduction from four to three major container shipping alliances should decrease rates on the transpacific trade, but the decline could be offset by upward rate pressure due to expected mergers.
As many as 100 more Panamax vessels - containerships with a capacity of 4,000-5,000 TEUs - need to be scrapped before owners see any significant increase in demand and charter rates, according to the latest weekly report from industry analyst Alphaliner.
A third and final U.S. Coast Guard Marine Board of Investigation hearing into the sinking of the TOTE Maritime cargo ship El Faro, which claimed the lives of 33 crew members on board, began Monday in Jacksonville, Fla.