Matt Rose, chairman and CEO of BNSF Railway, said a deal between Canadian Pacific and Norfolk Southern is unlikely because it would require buy-in from investors, rail labor, customers and public policy makers.
The port handled 35 percent more cargo in January than in the same 2014 period and said that, in addition to restoring regular service following congestion issues last year, restocking before Lunar New Year may also be a factor in the growth.
Caribbean and Central American ocean carrier and terminal operator King Ocean has signed a 20-year lease extension at the South Florida port that calls for a minimum 72,000 container lifts per year over an initial 10-year term.
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Canadian Pacific Railway Ltd. CEO E. Hunter Harrison said yesterday the workforce reduction will come from all areas of the company as slumping cargo volumes caused a 29 percent decline in fourth quarter profits.
Rates from Asia to Northwest Europe and the Mediterranean have dropped for the past five consecutive weeks.
Rates from Shanghai to Northwest Europe, the Mediterranean and the United States have all fallen in each of the past three consecutive weeks.