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Philadelphia Regional Port Authority executive director and Mersey Maritime CEO announce retirements, while Sparrows Point Terminal names VP of finance.
Canadian National Railway expects to use the proceeds from the stock sale for “general corporate purposes,” which include paying off and restructuring current debt as well as share buybacks.
The home improvement retailer opened a 1.6 million-square-foot direct fulfillment center in Troy Township, Ohio to support continued growth in online sales.
The Israeli ocean carrier recently returned to the black, posting adjusted net profits of $23 million in the second quarter of 2015 compared with a net loss of $50 million the previous year.
With more tonnage to be delivered next year, London-based shipping consultant Drewry says "the overhang of excess capacity [in the ocean freight industry] will be even greater than that experienced in 2009."
Capacity growth was relatively stagnant across the three major east-west trades in the third quarter of 2015, as slowing global trade and an economic recession in China caused volumes to remain weak even during the summer peak shipping season.