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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Five large terminal companies and the Port of Rotterdam Authority filed the “Global Ports Group Agreement” with the Federal Maritime Commission to promote the efficiency and effectiveness of the container port industry.
The contract freight rate benchmarking company warned, however, that stability will be hard to come by, and if just one or two carriers begin to drop rates and chase market share again, prices will likely fall across the board.
The global shipping consultancy said there will be minimal aggregate multipurpose fleet growth to 2020, due to increased demolition levels in the multipurpose and competing sectors, combined with the decreased number of newbuilding orders.