The Pacific Maritime Association has proposed extending the contract until July 1, 2022, with a 3.1 percent yearly wage increase over the base wage rate of $42.18 per hour.
The North Liberty, Iowa-based trucking and logistics company reported a net income of $14 million and operating revenues of $130 million for the first quarter of 2017.
The Houston-based tank barge operator’s net earnings fell 27.8 percent year-over-year in the first quarter of 2017 to $27.5 million.
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A Hapag-Lloyd spokesperson told American Shipper space is tight on the Europe to Asia trade right now from an uptick in volumes, which is abnormal for this time of year.
Various headwinds in 2016 sent the industry into a tailspin, culminating with the demise of Hanjin Shipping, a company many thought was too big to fail.
Rep. John Delaney, R-Md., this week filed two bipartisan bills that would fund the rebuilding of ailing U.S. transportation infrastructure with revenues from a one-time bond sale to U.S. corporations and long-term international tax reform.