Air cargo craft operator Atlas Air Worldwide Holdings, which saw net income and revenues plummet year-over-year in the first quarter of 2016, said it expects earnings and cash flow to grow over time thanks to new agreements with e-commerce behemoth Amazon.
Thanks to limited competition and favorable regulations, all major North American railroads were able to enact rate increases earlier this year even as freight volumes fell the most since 2009.
Crude oil prices have risen about 60 percent from a 2016 low, but the risk that prices will again fall is forcing Maersk’s oil unit to explore bigger cost cuts than previously planned, according to group CEO Nils Smedegaard Andersen.
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The proposed alliance would become a dominant player in the three major east-west trades, beating out total capacity currently offered by the 2M Alliance on those trade lanes, according to an analysis from BlueWater Reporting.
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.
Federal Maritime Commission Mario Cordero said Wednesday the agency has not yet received a formal filing by the container carriers that plan to establish the new OCEAN Alliance.