The world’s second largest shipbuilding company attributed the operating loss of 26.3 billion won in the first quarter of 2016 primarily to costs associated with completing offshore oil projects as crude prices continued to plummet.
The total value of cross-border freight between the United States and North American trading partners Canada and Mexico slipped 2 percent year-over-year following a 7.7 percent drop in January, according to the Bureau of Transportation Statistics.
The U.S. Surface Transportation Board has filed a supplemental notice to a proposed rulemaking that would require Class I railroads and the Chicago Transportation Coordination Office to submit weekly data reports on service performance.
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Ocean carriers CMA CGM, COSCO, Evergreen Line and OOCL revealed they will form a new alliance next April.
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.
A downbeat report from the London-based shipping consultant says freight rates are low and low oil prices are unlikely to drive profitability for the Danish conglomerate, but that stock in A.P. Moller Maersk is still a relatively low risk investment.