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Spot container rates from Shanghai to Northwest Europe this week saw the largest single week drop ever recorded on the Shanghai Containerized Freight Index.
Year-to-date, container volumes are up 4 percent and automobile volumes are up 7.7 percent at the Pacific Northwest ports.
AlixPartners Managing Director Foster Finley told American Shipper that nearshoring decisions are not made in a "knee-jerk" fashion and are dependent on a number of drivers.
The U.S. Maritime Administration is trying to find maritime applications for zero emission hydrogen fuel cells, which have the potential to provide cleaner air and reduce costs for shippers.
The group reported a 66.7 percent increase in net profits to $156 million on revenues of $4.2 billion for the second quarter.
A deal for GE Capital Rail Services, which has assets valued at over $4 billion, could come by Labor Day, according to initial reports from Bloomberg Business.