The chief and second engineers of the Top Ship cargo vessel were sentenced Thursday to jail for their role in obstructing a U.S. Coast Guard inspection in July 2015 on board the ship in North Carolina’s Port of Wilmington.
The third-party logistics provider subsidiary of German railway company Deutsche Bahn will combine its air and ocean freight division with its land transport division, as well as create a new division called Commercial DB Schenker and Contract Logistics.
The index remained practically unchanged since last Friday, inching up 0.3 percent to a reading of 797.62.
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Under the reorganization plan, most of International Shipholding Corp. (ISH) would be acquired by SEACOR, and ISH also plans to sell a business that includes operations in Southeast Asia to a company affiliated with its current CEO, Erik L. Johnsen.
The A.P. Møller-Maersk conglomerate, which includes Maersk Line, APM Terminals, and energy related divisions like Maersk Oil, reported an underlying profit of $426 million in the third quarter of 2016, a 35.6 percent decline from third quarter 2015.
The Georgia Ports Authority said almost one-third of its fleet of container stacking machines (45 out of 145), manufactured by Konecranes, have been purchased with or converted to, electric power capability.