Thanks to limited competition and favorable regulations, all major North American railroads were able to enact rate increases earlier this year even as freight volumes fell the most since 2009.
Crude oil prices have risen about 60 percent from a 2016 low, but the risk that prices will again fall is forcing Maersk’s oil unit to explore bigger cost cuts than previously planned, according to group CEO Nils Smedegaard Andersen.
Maersk and UASC have both signed agreements to work with Qatar Liquefied Gas Co. and Royal Dutch Shell Plc to develop liquid natural gas as a maritime fuel.
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The proposed alliance would become a dominant player in the three major east-west trades, beating out total capacity currently offered by the 2M Alliance on those trade lanes, according to an analysis from BlueWater Reporting.
Canadian Pacific Railway has terminated efforts to acquire the number four U.S. railroad, including the withdrawal of a resolution asking NS shareholders to urge its board to engage in negotiations, according to a statement from the company.
APM Terminals will expand its presence in the Port of Tangier, opposite its long-established terminal in Algeciras, Spain, by building a second $863 million port complex that will have the ability to handle 5 million TEUs annually.