Registration takes less than 1 minute.
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 Israeli ocean carrier recently returned to the black, posting adjusted net profits of $23 million in the second quarter of 2015 compared with a net loss of $50 million the previous year.
With more tonnage to be delivered next year, London-based shipping consultant Drewry says "the overhang of excess capacity [in the ocean freight industry] will be even greater than that experienced in 2009."
Capacity growth was relatively stagnant across the three major east-west trades in the third quarter of 2015, as slowing global trade and an economic recession in China caused volumes to remain weak even during the summer peak shipping season.