Federal Maritime Commission Chairman Mario Cordero said one of the items that has been on his agenda since becoming chairman in 2013 is to have a better funded and better resourced Federal Maritime Commission.
The Baltic Exchange Ltd. entered into exclusive talks with the Singapore Exchange Ltd., following an "attractive" proposal from the Asian bourse.
The inland river port handled 180,328 tons of waterborne cargo in April, a 23 percent year-over-year increase, the port said.
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The port posted a 2.4 percent year-over-year increase in container volumes in April, partially supported by growth at the Virginia Inland Port and Richmond Marine Terminal.
The asset-light transportation and logistics services provider posted earnings per share of $0.08, well short of industry advisory firm Stifel's estimate of $0.22 per share and the street consensus estimate of $0.23 per share.
Matt Cox, chief executive officer of the Jones Act ocean carrier, says he would not be surprised if industry losses in 2016 exceed $10 billion, but Matson, which operates primarily between the U.S. mainland, Hawaii and Alaska, has limited exposure.