American Shipper’s sister publication, the Adam Smith Project, wrote Monday about the dangers of recalibrating trade statistics to suit policy initiatives.
Chief Executive Officer Ted Fick resigned earlier this month amid a Washington State Auditor's Office investigation into an alleged $4.8 million in potentially illegal payouts to port employees.
Michael J. Ward and Clarence W. Gooden, chief executive officer and president of CSX, respectively, will retire from the company May 31, 2017, the Jacksonville, Fla.-based Class I railroad said in a statement.
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Global trade in 2016 was sluggish, as import volumes and global container throughput dipped, but the negligible dip in global trade was accompanied by radical shifts in freight pricing.
Danish ocean carrier Maersk Line said the acquisition of Hamburg Süd would boost its share of the world container fleet from 15.7 percent to 18.6 percent, and increase its capacity from 3.14 million TEUs to 3.76 million TEUs.
The A.P. Møller-Maersk conglomerate, which includes Maersk Line, APM Terminals, and energy related divisions like Maersk Oil, reported an underlying profit of $426 million in the third quarter of 2016, a 35.6 percent decline from third quarter 2015.