The freight visibility software provider said it will be aggressively pursuing plans through 2017 to introduce support for additional modes of transportation.
Drewry's investment arm said the Taiwanese government will need to support Yang Ming, but Bronson Hsieh, chairman of the shipping company, said a merger is not an option.
Hunter Harrison, retiring president and CEO of the Calgary-based Class I railway, has apparently decided to cut his remaining time with the company short, and may be eyeing U.S. railroad CSX as his next move.
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On a bright note, the port authority said it will be using a $1.6 million grant awarded by the U.S. Maritime Administration to improve the barge program that transports containers between Red Hook in Brooklyn and Port Newark.
A coalition of 25 business groups has asked the Federal Maritime Commission to address fees imposed when shippers can't pick-up and return cargo, containers and chassis for reasons beyond their control.
Rates from Shanghai to the Mediterranean, which hold a 10 percent weight on the index’s overall reading, fell 6.3 percent from last Friday to $738 per TEU.