The world’s second largest shipbuilding company attributed the operating loss of 26.3 billion won in the first quarter of 2016 primarily to costs associated with completing offshore oil projects as crude prices continued to plummet.
The total value of cross-border freight between the United States and North American trading partners Canada and Mexico slipped 2 percent year-over-year following a 7.7 percent drop in January, according to the Bureau of Transportation Statistics.
The U.S. Surface Transportation Board has filed a supplemental notice to a proposed rulemaking that would require Class I railroads and the Chicago Transportation Coordination Office to submit weekly data reports on service performance.
Registration takes less than 1 minute.
The Memphis, Tenn.-based parcel carrier and logistics provider will use the proceeds to help finance its planned 4.4 billion euro purchase of Dutch delivery company TNT Express NV.
Meanwhile, the U.S. Federal Maritime Commission is calling for carriers and shippers to work together to find a solution so exports are not left on the docks for lack of verified gross mass documentation come July 1.
Ocean carriers CMA CGM, COSCO, Evergreen Line and OOCL revealed they will form a new alliance next April.