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Federal Maritime Commissioner Mario Cordero is pressing terminal operators to justify a recent increase in PierPass fees, which they claim still do not fully pay for night and Saturday operations.
Neptune Orient Lines, parent of ocean carrier APL, is "totally focused" on returning the liner business to profitability, NOL CEO Ng Yat Chung said during a call with securities analysts.
With 10 days to go until funding for highway and transit programs runs out, a motion to proceed with debate was defeated as Democrats claimed they hadn’t been given enough time to read the details of the 1,030-page multi-year bill unveiled Tuesday morning.
The second quarter financial results of ocean carriers NYK, MOL and "K" Line reflected a weak Asia-Europe market and strong supply pressure.
The U.S. Senate also passed a long-term highway bill that will be debated by the House after the summer break.
The European Commission will now conduct an in-depth analysis under the EU's merger regulations before coming to a decision on FedEx's $4.8 billion offer to buy TNT.