A significantly lower average freight rate drove Hapag-Lloyd’s revenues down 12.5 percent year-over-year in 2016 to 7.7 billion euros.
Under the newly expanded contract, Worldwide Flight Services will handle up to seven direct flights a week connecting Chicago O’Hare International Airport with Taipei and an estimated 56 million kilos in cargo annually, according to a statement from WFS.
The primary federal funding mechanism for transportation infrastructure projects will run out of money once the FAST Act expires in 2020, according to Bud Wright, executive director of the American Association of State Highway and Transportation Officials.
Registration takes less than 1 minute.
Hyundai Merchant Marine said it expects to receive funding from a new South Korean government shipping entity, which will buy and charter back vessels to the shipping company.
The International Longshoremen’s Association is calling for a shutdown of ports along the Atlantic and Gulf Coasts, and a march in Washington.
Federal Maritime Commissioner Rebecca Dye said the reduction from four to three major container shipping alliances should decrease rates on the transpacific trade, but the decline could be offset by upward rate pressure due to expected mergers.