The U.S. Department of Transportation is looking into how delays at ports and other loading and unloading facilities may be affecting driver compliance with hours-of-service rules designed to increase safety.
Union Pacific’s failure to maintain its track and equipment resulted in broken and sheared lag bolts, which caused the June 3 derailment of a train near Mosier, Ore., according to a preliminary report from the Federal Railroad Administration.
Meanwhile, the pound slid the most on record to its weakest since 1985, while the yen rallied on demand for haven assets, following Britain’s vote to leave the European Union.
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The world’s second largest shipbuilding company attributed the operating loss of 26.3 billion won in the first quarter of 2016 primarily to costs associated with completing offshore oil projects as crude prices continued to plummet.
Net orders for North American Class 8 trucks in April dropped 16 percent from March and 39 percent compared with April 2015, according to preliminary data from freight forecaster FTR Transportation Intelligence.
Shares of the fellow China-owned shipping conglomerates, which recently merged at the behest of the Chinese government, jumped as much 9.9 percent and 10 percent, respectively, in Shanghai trading yesterday.