Without clear carbon controls from the International Maritime Organization, the shipping industry may have to adhere to multiple sets of regional regulations, according to Esben Poulsson, chairman of the International Chamber of Shipping.
The Warren, Mich.-based trucking carrier and third-party logistics provider saw net income plummet 39.2 percent year-over-year to $24.2 million as revenues slid 5 percent to $1.07 billion, according to the company’s most recent financial statements.
Hyundai Heavy Industries’ shareholders on Monday voted to approve the company’s restructuring plans despite strong union opposition.
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The United States Maritime Alliance, the employer group that negotiates the master contract with the International Longshoremen's Association, called the ILA’s planned work stoppage threat “disturbing.”
COSCO Shipping Ports Ltd. and CMA CGM Terminals Holding signed a worldwide memorandum of understanding to seek cooperation at ports worldwide, with preference being given to ports called by the Ocean Alliance.
Federal Maritime Commission Chairman Mario Cordero says he is willing to discuss the agency's concerns with Port Authority of New York/New Jersey and OCEMA member carriers, leaving the door open for future approval of a revised agreement.