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The Danish shipping conglomerate has also begun a program to buy back $1 billion in company shares over the next year.
Spot container rates on major trades between Asia and Europe and the United States as measured by the Shanghai Containerized Freight Index fell 7.5 percent from last week to a reading of 622.60.
Jobs directly associated with port activity have increased more than 13 percent between 2012 and 2014, according to an economic impact study of the Port of New York and New Jersey.
After completing the long-awaited Trans-Pacific Partnership agreement on Monday, the Obama administration now faces its next challenge: promoting the trade pact to Congress and voters.
Just prior to announcing the board of TNT Express had approved its sale to FedEx, the company issued an investor alert warning shareholders that third quarter 2015 profits would be “materially lower” than in the third quarter of 2014.
A massive influx of refugees fleeing the war in Syria has resulted in increased wait times at border crossings and reduced volumes for trucking carriers, according to the International Air Cargo Association.