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With more tonnage to be delivered next year, London-based shipping consultant Drewry says "the overhang of excess capacity [in the ocean freight industry] will be even greater than that experienced in 2009."
The Japanese ocean liner carriers and three executives at the companies allegedly conspired to fixed prices on roll-on/roll-off cargo, according to the U.S. Department of Justice.
U.S. Customs and Border Protection agents at the Fort Lauderdale, Fla. port found over 615 pounds of the illegal narcotic hidden in a container that originated in Cartagena, Colombia.
The entire investigation into the loss of TOTE Maritime Puerto Rico ship will take 12-18 months, but the NTSB will release findings on an "as needed" basis in advance of its final report.
The national mail carrier of Singapore and aspiring global logistics provider has agreed to purchase a 71.1 percent share in Jagged Peak, Inc. for $15.8 million.
The inability to agree on a long-term highway bill led Congress in July to pass a six-month extension of Transportation Department programs that will expire at the end of the month.