The Berkshire Hathaway-owned Class I freight railroad will pay $50,000 in civil penalties related to a March 2015 crude oil train derailment in Galena, Ill., according to a statement from Illinois Attorney General Lisa Madigan.
Additional shippers and logistics companies have expressed support on a call for the Federal Maritime Commission to provide guidelines on detention and demurrage charges.
Hyundai Heavy Industries (HHI) is putting its restructuring plans on a shareholders’ meeting agenda for Feb. 27, but HHI workers plan to strike from Feb. 22-27 in attempts to block the meeting.
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The container freight market is strengthening as carriers begin some 2017 negotiations, and Drewry said some shippers could see contract rates rise 20-40 percent in worst case scenarios.
Ford Motor Co. canceled plans for an auto plant in Mexico as President-elect Donald Trump made it clear he intends to pursue a strategy of economic nationalism.
President-elect Donald Trump warned German automakers of a 35 percent tariff on imports from Mexico if they continue producing cars there instead of building them in the United States.