The German ocean carrier’s shareholders of Friday approved all items on the agenda for the annual meeting, most notably including the approval of new authorized share capital, which will be used toward the merger with UASC.
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.
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The U.S. Justice Department said Jacintoport International and Seaboard Marine Ltd. have agreed to pay $1.075 million to settle a lawsuit alleging that the companies violated the False Claims Act.
REZ-1, Inc., a provider of asset management, equipment reservation, billing and reload services to the domestic intermodal industry, has agreed to purchase cloud-based logistics and transportation management solutions provider International Asset Systems.
Number four U.S. railway Norfolk Southern reported net income of $405 million for the second quarter compared with $433 million during the same 2015 period, according to the company’s most recent financial statements.