Crude oil prices are are down about 4.6 percent this week as rising U.S. stockpiles and OPEC production have cushioned the impact of declines in North American output.
HNA Group Co., the acquisitive owner of China’s fourth-largest airline, has approached the biggest shareholder of CWT Ltd. to express interest in a possible bid for control of the third-party logistics provider.
America’s trade deficit shrank 13.9 percent to $40.4 billion in March 2016, the smallest since February 2015, according to figures released by the Commerce Department Wednesday.
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Federal Maritime Commission Mario Cordero said Wednesday the agency has not yet received a formal filing by the container carriers that plan to establish the new OCEAN Alliance.
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.
SSA Marine's Oakland International Container Terminal, which has operated nights and Saturdays for two months to ease pressure on busy weekday cargo operations, will stay open three nights a week in a during a four-week trial.