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Mid-size importers are not likely to shift cargo from the West Coast of the United States to East Coast ports because it is cost prohibitive, according to logistics expert Stephen Craig.
A report from the Working Group for the Fiscal and Economic Recovery of Puerto Rico, established by Governor Alejandro García Padilla, said a Jones Act exemption would "reduce transportation costs and increase competitiveness."
The U.S. Department of Commerce’s Bureau of Economic Analysis revised a previous prediction of a 3.7 percent annual growth rate in second quarter gross domestic product to a 3.9 percent increase.
The Danish firm's acquisition of UTi is the latest in a string of international mergers in the 3PL industry this year.
The Israeli ocean carrier recently returned to the black, posting adjusted net profits of $23 million in the second quarter of 2015 compared with a net loss of $50 million the previous year.
With more tonnage to be delivered next year, London-based shipping consultant Drewry says "the overhang of excess capacity [in the ocean freight industry] will be even greater than that experienced in 2009."