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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The London-based shipping research and consulting firm said that even though freight rates fell seasonally in the first quarter of 2017, they are better than they were in 2016.
The International Monetary Fund yesterday released its latest quarterly World Economic Outlook (WEO) Update, in which it projected the global economy will grow 3.5 percent this year, up from its January projection of 3.4 percent.
Separately, the three Japanese ocean carriers - NYK, “K” Line and MOL - on Friday filed an agreement with the Federal Maritime Commission to merge container operations.