Association of American Railroads President and CEO Edward R. Hamberger expressed how the rail industry’s position, which remains unchanged, claims forced access is an ill-conceived approach that compromises the efficiency of the entire network.
The Panama Canal Authority said it is confident in the process it uses to move ships through the new locks at the canal, following an accident last week that damaged the Xin Fei Zhou after it made contact with one of the walls at the Agua Clara Locks.
The TMS provider was acquired by fellow logistics software firm Kewill in April, and the companies are progressing on merging products and organizations, Lean executives said in a briefing.
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APL said it plans to hike refrigerated container rates globally by $1,500 on Jan. 7.
"Rates are currently at
unsustainable levels, and we face the challenge of escalating
operational costs, which show no signs of abating," the Singapore-based carrier said.
APL's action follows similar decisions to hike reefer rates by other carriers, including Maersk.
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.
The Calgary-based Class I railroad cited lower-than-anticipated bulk volumes, the devastating wildfires in northern Alberta and a strengthening Canadian dollar as the primary reasons for the downward revision in earnings expectations.
The rating agency acted negatively to the idea that the A.P. Moller - Maersk conglomerate could potentially choose to divide into separate companies, noting the split could hurt the group's business diversification.