United States gross domestic product increased just 0.7 percent in the first quarter of 2017, down from from a 2.1 percent growth rate the previous quarter and the slowest in three years, according to the “advance” estimate from the Department of Commerce.
The Norwegian global maritime industry group inked a deal to acquire the technical business solutions business from Drew Marine for approximately $400 million.
Jacksonville, Fla.-based Landstar System, Inc. reported record first quarter revenues of $780.9 million for the first quarter of 2016.
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American Shipper has launched a short survey to collect feedback on how the industry expects to be affected by the new ocean carrier alliances that launched at the beginning of the month.
Hyundai Heavy Industries Group is pushing ahead with new investments, and plans to more than double its number of researchers in the wake of its official split into four separate companies.
However, export volumes during the month fell 5.3 percent from March 2016 as shipments to overseas markets experienced headwinds from the strong U.S. dollar.