The Omaha, Neb.-based Class I railway posted a net income of $4.2 billion for 2016, an 11 percent decline from 2015.
Shipment volumes for the month slid 1.2 percent from November, but were up 3.5 percent compared with the same 2015 period following a 0.5 percent year-over-year decrease the previous month, according to the latest Cass Freight Index Report.
The U.S. requested a trade enforcement action against Canada in the World Trade Organization, alleging that British Columbia discriminates against U.S. and other imported wines by allowing only its own province’s wines to be sold on grocery store shelves.
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Mediterranean Shipping Co.’s 13,092-TEU containership MSC Regulus collided with the Ecuadorian fishing vessel Don Gerardo II early Saturday morning, reportedly killing at least five people and injuring a dozen more.
Danish shipping company Maersk Line and Chinese e-commerce marketplace Alibaba teamed up to provide sellers direct bookings with the container line, marking another development in the rapidly changing ocean freight procurement space.
COSCO may make a bid of more than $4 billion for Hong Kong-based Orient Overseas Container Line, according to various media reports.