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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Ship owners on Wednesday broke off rate negotiations with struggling South Korean shipping conglomerate Hyundai Merchant Marine without reaching an agreement, according to multiple reports from Korean media outlets.
The plantiffs claimed the U.S. Coast Guard violated the Administrative Procedures Act in its rule-making procedure in developing the pilotage rates, which have jumped about 114 percent over the past 10 years.
The Israeli ocean carrier experienced a net loss of $56 million in the first quarter of 2016, compared to profit of $12 million in the first quarter of 2015.