Canada's Transport Minister Marc Garneau has moved up the deadline for phasing out the use of older DOT-111 tank cars for crude-by-rail transport, according to the Canadian government department responsible for transportation policies and programs.
Although the non-asset-based third-party logistics provider saw revenues fall 6.9 percent year-over-year in the second quarter of 2016 to $3.3 billion, net income rose 4.3 percent year-over-year to $143.1 million.
The Port of Long Beach Harbor Commission President has been re-elected, while TIACA appoints European Shippers' Council chairman to its board.
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Ocean carrier Hyundai Merchant Marine joining the 2M Alliance - comprised of Maersk Line and MSC - has fueled speculation about Maersk’s ultimate motives, but the short term impact is a larger share on the transpacific trade, especially from Korea.
After a weak first quarter in 2016, east-west capacity rebounded slightly in advance of the traditional summer peak season, but overcapacity, decreased volumes and low rates continued to drive carriers into the ever-changing alliance game.
The expanded Panama Canal locks, which just opened June 26 to handle vessels up to 14,000 TEUs, are expected to reshape U.S. East Coast port operations.