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The Netherlands-based logistics provider posted a 27 percent year-over-year increase in EBITDA despite a 13.1 percent decline in revenues for the third quarter of 2015.
Canadian Pacific is looking to merge with fellow Class I railroad Norfolk Southern, but NS appears less than receptive to the offer, referring to it as a “low-premium" offer in a statement Tuesday.
Stock in both Canadian Pacific Railway Ltd. and Norfolk Southern Corp. shot up yesterday amid rumors the second-largest Class I railroad in Canada is mulling a potential takeover of NS.
The U.S. Gulf port also expects to benefit from continuing population migration to Texas and the expansion of Panama Canal, which is scheduled to be completed in April 2016.
Meanwhile, a Federal Aviation Administration task force released its recommendations regarding a registration program for unmanned aircraft systems that will affect the use of drones in both commercial and recreational settings.
Box volumes at the largest U.S. East Coast port were up 11 percent year-over-year in October, driven primarily by a 9.8 percent spike in loaded import containers.