The U.S. Department of Agriculture said the nation's agricultural trade surplus is also expected to increase to $19.5 billion for fiscal year 2017, up 40 percent from $13.9 billion for fiscal year 2016.
With 13 of the top 20 container lines reporting combined losses of $2.5 billion in the first half alone, industry losses will likely range from $8 billion to $10 billion for the full year, according to Lars Jensen, CEO of SeaIntelligence Consulting.
The U.S. Department of Transportation said it is seeking to make speed limiting devices a requirement on all newly manufactured trucks with a gross vehicle rating of more than 26,000 pounds.
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Worldwide Flight Services appoints new CEO, while CSafe names director of strategic life science sales.
The Government Accountability Office has denied a competitor's protest that the U.S. Transportation Command improperly awarded a contract to operate a major military port.
Louise Muenter, head of media and stakeholder relations at A.P. Moeller-Maersk, said a corporate restructuring is a possibility following a report the Danish shipping conglomerate could be split into separate transportation and energy companies.