Separately, the three Japanese ocean carriers - NYK, “K” Line and MOL - on Friday filed an agreement with the Federal Maritime Commission to merge container operations.
The sanctions, pursuant to the Iran, North Korea, and Syria Nonproliferation Act, will remain in place for two years.
The ranking member of the House Transportation and Infrastructure Committee introduced the Investing in America: A Penny for Progress Act, which aims to raise roughly $500 billion in transportation infrastructure funding via 30-year Treasury bonds.
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The Danish ocean carrier’s plan to acquire Hamburg Süd in 2017 caps a landmark year for consolidation in the container shipping industry, noted Mario Cordero, the chairman of the Federal Maritime Commission.
Outgoing Vice President Joseph Biden released a report Tuesday outlining the benefits of the 2009 American Recovery and Reinvestment Act on improving the nation’s transportation infrastructure.
The Danish container shipping line said the order will help it meet sustainability goals and stay ahead of new legislation by the European Union.