Transportation planners and industry executives briefed House lawmakers last week on progress made so far with implementing freight provisions of the FAST Act.
The parcel carrier’s expedited shipping segment will raise prices by an average of 3.9 percent in Germany, effective Jan. 1, 2017, with prices in other countries varying based on local conditions, the company said in a statement.
The total value of cross-border freight between the United States and North American trading partners Canada and Mexico slipped another 6.4 percent year-over-year in June 2016, according to the Bureau of Transportation Statistics.
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A survey conducted by American Shipper revealed nearly three in four beneficial cargo owners and intermediaries currently have cargo on Hanjin vessels, and most are predicting rates will rise in the short- and long-term.
The Shanghai Containerized Freight Index fell 7.6 percent from last week to a reading of 794.10, as the short-term boost spot rates experienced in recent weeks from Hanjin filing for bankruptcy have now subsided.
The National Retail Federation, along with a coalition of 120 retail, manufacturing and agriculture groups, sent a letter to U.S. Secretary of Commerce Penny Pritzker asking her to continue to work towards a swift resolution for shippers.