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The TPP agreement, which includes the United States and 11 other countries in the Pacific Rim and the Americas, covers a range of industries and promises to reduce or eliminate tariffs and quotas on numerous products.
Without an extension past the original Dec. 31, 2015 deadline for implementation of Positive Train Control, shippers say the resulting "large-scale service disruption would be dire."
Search and rescue efforts are now focused on finding survivors from the 33 crew members who were on board the Jacksonville-Puerto Rico container and roll-on/roll-off vessel operated by TOTE Maritime, formerly Sea Star Line.
The ECT City Terminal, the oldest container terminal at the Port of Rotterdam, closed its doors last week as a result of not being able to handle the increases in scale in container shipping.
Year-over-year throughput of crude oil and other petroleum products dropped 22 percent last week compared to the same period last year, according to the American Association of Railroads.