New President and CEO E. Hunter Harrison is wasting no time in getting up to speed at CSX, projecting 25 percent year-over-year EPS growth for 2017, increasing quarterly shareholder dividends and instituting a new $1 billion share repurchase program.
Yang Ming’s shares have been suspended on the Taiwan Stock Exchange from last Thursday until May 3 as part of its financial restructuring and reverse stock split.
Aggregate spot container freight pricing on eight major east-west trades between the United States, Europe and Asia are up 102 percent from the same time last year, according to maritime consultant Drewry’s latest World Container Index report.
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Michael Khouri, acting chairman of the Federal Maritime Commission, said such pacts can help terminals improve service and operations to benefit the American shipper and consumer.
However, an XPO spokesperson told American Shipper only 178 of the company’s 44,000 North American employees have voted in favor of the Teamsters since 2015, and none of its locations have a collective bargaining contract in place.
The German ocean carrier is citing benefits from its planned merger with United Arab Shipping Company, but Reuters has reported a "snag" in those plans.