Canada's Transport Minister Marc Garneau has moved up the deadline for phasing out the use of older DOT-111 tank cars for crude-by-rail transport, according to the Canadian government department responsible for transportation policies and programs.
Although the non-asset-based third-party logistics provider saw revenues fall 6.9 percent year-over-year in the second quarter of 2016 to $3.3 billion, net income rose 4.3 percent year-over-year to $143.1 million.
The Port of Long Beach Harbor Commission President has been re-elected, while TIACA appoints European Shippers' Council chairman to its board.
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The rating agency acted negatively to the idea that the A.P. Moller - Maersk conglomerate could potentially choose to divide into separate companies, noting the split could hurt the group's business diversification.
The United Kingdom will now have to sign new trade treaties with everyone, without the bargaining power of the European Union, which will lead to higher duties, and therefore, increased costs for shippers, Xeneta CEO Patrik Berglund said.
Both carriers have refuted analyst reports that industry leader Maersk Line intends not just to bring Hyundai Merchant Marine into the 2M Alliance it shares with MSC, but to merge with or buy the struggling South Korean line.