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The National Transportation Safety Board issued an update on its ongoing investigation into the sinking of the TOTE Maritime Puerto Rico cargo vessel.
Chinese carriers COSCO and China Shipping told the Federal Maritime Commission they are in the beginning stages of a merger, while Bloomberg reported CMA CGM has entered into talks to buy APL parent Neptune Orient Lines.
XPO Logistics, which announced Friday it had finalized its $3 billion acquisition of trucking and logistics provider Con-way Inc., will cut more than 10 percent of current Con-way staff at its Ann Arbor, Mich. headquarters and Portland, Ore. IT center.