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Corruption in certain parts of Africa, Latin America and Asia makes it too difficult for a U.S. third-party logistics provider to do business, according to XPO Logistics CEO Brad Jacobs.
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.
Meanwhile, lane outages in the existing locks for maintenance could reduce available capacity for vessel traffic by up to 50 percent through the end of the month, according to maritime support services provider Gulf Agency Co.
TOTE says "While this reflects that the ship was caught in rough seas and extreme weather, it is in no way indicative of the ship’s fate."
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.