The U.S. gross domestic product increased 1.2 percent in the second quarter 2016, according to the “advance” estimate from the Department of Commerce, following a revised increase of just 0.8 percent in the first quarter.
The American Association of Port Authorities is concerned that local agencies with no nexus to ports are taking advantage of a federal program designed to help ports pay for security needs.
The Atlanta, Ga.-based parcel giant posted a net income of $1.27 billion for the second quarter of 2016 on revenues of $14.63 billion, year-over-year increases of 3.2 percent and 3.8 percent, respectively.
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Taiwanese ocean carrier Yang Ming Transport Corp. named former Evergreen Line executive Bronson Hsieh as its new chairman.
German ocean carrier Hapag-Lloyd reached an agreement with United Arab Shipping Company on a merger that would make Hapag-Lloyd the fifth largest container carrier in the world.
The A.P. Moller-Maersk Group, parent company of Danish liner carrier Maersk Line, has named Soren Skou as its new chief executive officer.