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The planned Nov. 2 rate hike will be FedEx’s second in nine months, according to multiple media reports.
The ocean carriers, which offer liner service to Puerto Rico and Alaska, will henceforth be known as TOTE Maritime, according to a statement from the companies.
American Maritime Partnership chairman Tom Allegretti says there is strong support for Jones Act in Congress and attempts to exempt Puerto Rico could jeopardize Congressional support for aid.
No sighting of lifeboat yet as multiple aircraft and ships search the area for TOTE Maritime Puerto Rico ship and crew.
Rep. Stephen Fincher, R-Tenn., introduced a bill that would restore Ex-Im Bank’s operations and include various reforms, but will require a "discharge process" to reach the House floor for a vote.
The company’s minority investment in e-commerce specialist Ally Commerce Inc. is more about research than revenues, according to Rimas Kapeskas, head of UPS’s strategic enterprise fund.