The Berkshire Hathaway-owned Class I freight railroad will pay $50,000 in civil penalties related to a March 2015 crude oil train derailment in Galena, Ill., according to a statement from Illinois Attorney General Lisa Madigan.
Additional shippers and logistics companies have expressed support on a call for the Federal Maritime Commission to provide guidelines on detention and demurrage charges.
Hyundai Heavy Industries (HHI) is putting its restructuring plans on a shareholders’ meeting agenda for Feb. 27, but HHI workers plan to strike from Feb. 22-27 in attempts to block the meeting.
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However, COSCO SHIPPING Holdings said it does expect to have earnings before interest and tax of approximately 700 million Chinese yuan renminbi for the fourth quarter of 2016, excluding the net loss it incurred from the demolition of vessels.
Feeder ships play a huge role in global trade and the future of these ships is quite secure, said Captain James McNamara, who currently serves as chairman of the Maritime Industry Museum at Fort Schuyler, N.Y.
The Port of Montreal has plans for a new terminal in Contrecoeur, while DP World signed a lease in July to expand and operate the Rodney container terminal in Saint John, and new container terminals are proposed in Melford and Sydney.