The U.S. Department of Agriculture said the nation's agricultural trade surplus is also expected to increase to $19.5 billion for fiscal year 2017, up 40 percent from $13.9 billion for fiscal year 2016.
With 13 of the top 20 container lines reporting combined losses of $2.5 billion in the first half alone, industry losses will likely range from $8 billion to $10 billion for the full year, according to Lars Jensen, CEO of SeaIntelligence Consulting.
The U.S. Department of Transportation said it is seeking to make speed limiting devices a requirement on all newly manufactured trucks with a gross vehicle rating of more than 26,000 pounds.
Registration takes less than 1 minute.
Turkish port operator Yilport Holding secured a 50-year concession to develop Puerto Bolívar Port and committed to invest $750 million in the Ecuadorian port.
Charles “Wick” Moorman, who was the former CEO of Class I railroad Norfolk Southern Corp. until June 2015, will head Amtrak effective Sept. 1.
The Mexico City-based port management and logistics provider reported a net loss of 1.40 pesos per share for the quarter on revenues that fell 20.8 percent to 662.6 million pesos compared with second quarter 2015.