The world’s second largest shipbuilding company attributed the operating loss of 26.3 billion won in the first quarter of 2016 primarily to costs associated with completing offshore oil projects as crude prices continued to plummet.
The total value of cross-border freight between the United States and North American trading partners Canada and Mexico slipped 2 percent year-over-year following a 7.7 percent drop in January, according to the Bureau of Transportation Statistics.
The U.S. Surface Transportation Board has filed a supplemental notice to a proposed rulemaking that would require Class I railroads and the Chicago Transportation Coordination Office to submit weekly data reports on service performance.
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The Water Resources Development Act reauthorization includes provisions sought by the nation's port authorities related to how harbor deepening projects are funded, getting more money for maintenance dredging in the pipeline and authorizing new projects.
The locks are scheduled to undergo a technological upgrade this summer to replace a half-century-old master control system that opens and closes the waterway passage.
House lawmakers brushed aside calls at a hearing to slow implementation of the Verified Gross Mass rule, while other shippers said compliance should be straightforward.