TNT Express on Friday said it has entered an agreement to sell its airline operations, TNT Airways and Pan Air Líneas Aéreas, to ASL Aviation Group.
Canadian Pacific published a third white paper regarding its proposed acquisition of Norfolk Southern Corp., and the U.S. Surface Transportation Board has begun to receive letters from rail customers in support of the controversial takeover.
A $60 million upfront payment by Ports America and TIL gives the Northern California port limited recourse following their departure from Oakland Harbor Terminal, according to a research note by Fitch Ratings.
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Port commissioners have scheduled meetings to discuss the termination of the Outer Harbor Terminal lease agreement and potential plans by port terminal operator TraPac to expand into the vacated facility.
Japan's three largest shipping conglomerates, NYK, MOL and "K" Line all saw their bottom line hurt by overcapacity and continued weakness in the container and dry bulk markets.
A total of 2.16 million tons of iron ore were shipped on the Great Lakes and St. Lawrence seaway in January, a 22 percent year-over-year decline.