The mid-Atlantic port handled 2.56 million tons of general cargo during the first quarter of 2017, up 5 percent year-over-year, primarily due to an increase in car and container throughput.
The Building and Renewing Infrastructure for Development and Growth in Employment (BRIDGE) Act is sponsored by U.S. Sens. Roy Blunt, R-Mo., and Mark Warner, D-Va.
London-based Shipamax, a participant in the logistics technology accelerator Dynamo's initial program last year, is aiming to digitize dry bulk broker processes.
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Members of the House Subcommittee on Coast Guard and Maritime Transportation say the law, which provides ocean carriers with limited antitrust immunity, is not up to date with the operational realities of today's liner industry.
Certain provisions of the merger agreement would have "jumped the gun" by allowing NYK, MOL and "K" Line to share competitively sensitive information or prematurely combine, according to the Federal Maritime Commission.
The container and dry bulk markets are seeing improvement thanks to high levels of vessel scrapping and an uptick in demand, but prospects for the tanker segment are less encouraging, according to a recent research report from the credit ratings agency.