American Shipper is gathering feedback from shippers, carriers, and others to better understand perspectives on how well the Federal Maritime Commission is doing as chief U.S. regulator of the shipping industry.
The shipping research and consulting firm attributed November’s year-over-year increase in idled containership capacity to the Panama Canal’s new locks, which made smaller containerships less attractive, along with Hanjin’s bankruptcy.
The Dubai-based operator will own 55 percent of a new vehicle targeting port and terminal investment opportunities outside of the United Arab Emirates, while Canadian pension fund Caisse de dépôt et placement du Québec will hold the other 45 percent.
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Darien, Conn.-based short line railroad operator Genesee & Wyoming Inc. reported net income of $56.8 million on revenues of $501 million during third quarter 2016, year-over-year decreases of 10.4 percent and 8.3 percent, respectively.
Representatives from the Pacific Maritime Association and the International Longshore and Warehouse Union met Tuesday and discussed a possible extension of their current contract, which runs through June 30, 2019.
The German ocean carrier took delivery of the 10,500-TEU Valparaiso Express from Hyundai Samho Heavy Industries this Wednesday, which will serve trade between the West Coast of South America and Europe.