The Omaha, Neb.-based Class I railway posted a net income of $4.2 billion for 2016, an 11 percent decline from 2015.
Shipment volumes for the month slid 1.2 percent from November, but were up 3.5 percent compared with the same 2015 period following a 0.5 percent year-over-year decrease the previous month, according to the latest Cass Freight Index Report.
The U.S. requested a trade enforcement action against Canada in the World Trade Organization, alleging that British Columbia discriminates against U.S. and other imported wines by allowing only its own province’s wines to be sold on grocery store shelves.
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Five large terminal companies and the Port of Rotterdam Authority filed the “Global Ports Group Agreement” with the Federal Maritime Commission to promote the efficiency and effectiveness of the container port industry.
Container handling capacity will be drastically expanded at the Packer Avenue Marine Terminal, and the terminal’s marginal berths will be deepened to 45 feet.
The World Container Index has increased by 62 percent since the bankruptcy of Hanjin at the end of August 2016, London-based shipping research and consulting firm Drewry said.