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Spot container rates on major trades between Asia and Europe and the United States as measured by the Shanghai Containerized Freight Index fell 7.5 percent from last week to a reading of 622.60.
Jobs directly associated with port activity have increased more than 13 percent between 2012 and 2014, according to an economic impact study of the Port of New York and New Jersey.
The Danish shipping conglomerate has also begun a program to buy back $1 billion in company shares over the next year.
TOTE says "While this reflects that the ship was caught in rough seas and extreme weather, it is in no way indicative of the ship’s fate."
Rep. Stephen Fincher, R-Tenn., introduced a bill that would restore Ex-Im Bank’s operations and include various reforms, but will require a "discharge process" to reach the House floor for a vote.
The company’s minority investment in e-commerce specialist Ally Commerce Inc. is more about research than revenues, according to Rimas Kapeskas, head of UPS’s strategic enterprise fund.