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The Busan Port Authority and the Korean government plan to further strengthen the port's cargo trans-shipment capabilities to handle 13 million TEUs of trans-shipment cargo by 2020.
The asset-light trucking and logistics company saw a decrease in less-than-truckload revenues offset by pricing increases, while its truckload segment surpassed earnings and margins expectations.
The $76 million purchase of MK Data bolsters Descartes customer base and screening content, while also giving further visibility into what value the market places on compliance-related software companies.
The MacArthur Lock, one of the two actively used locks that enable ships to travel between Lake Superior and the lower Great Lakes, will be closed for at least 10 days due to a malfunctioning gate.
Brent crude, considered by most analysts to be the global benchmark for oil prices, fell below $50 a barrel for the first time since January amid slowing demand growth and growing global oversupply.
The Maritime Administration's hoarding of proceeds from vessel sales, refusal to distribute maritime heritage grant funds and continued stonewalling of FOIA requests presents a troubling picture. And it’s not one of a transparent agency.