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.
The total value of cross-border freight between the United States and North American trading partners Canada and Mexico slipped 2 percent year-over-year following a 7.7 percent drop in January, according to the Bureau of Transportation Statistics.
The U.S. Surface Transportation Board has filed a supplemental notice to a proposed rulemaking that would require Class I railroads and the Chicago Transportation Coordination Office to submit weekly data reports on service performance.
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The proposed alliance would become a dominant player in the three major east-west trades, beating out total capacity currently offered by the 2M Alliance on those trade lanes, according to an analysis from BlueWater Reporting.
Canadian Pacific Railway has terminated efforts to acquire the number four U.S. railroad, including the withdrawal of a resolution asking NS shareholders to urge its board to engage in negotiations, according to a statement from the company.
Federal Maritime Commissioner William P. Doyle praised the statement from ocean carrier group OCEMA, but noted officials "still need to address an important liability issue for the shippers" in order to implement new verified gross mass requirements.