Multi-modal container transport and logistics company Samskip said it expects its Norway business to increase from the current 55,000 TEUs per year to 90,000 TEUs per year due to its acquisition of Euro Container Lines AS.
The U.S. Department of Agriculture said the nation's agricultural trade surplus is also expected to increase to $19.5 billion for fiscal year 2017, up 40 percent from $13.9 billion for fiscal year 2016.
With 13 of the top 20 container lines reporting combined losses of $2.5 billion in the first half alone, industry losses will likely range from $8 billion to $10 billion for the full year, according to Lars Jensen, CEO of SeaIntelligence Consulting.
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Captain John Loftus, who was fired in 2013 after working for Horizon Line for 20 years, has been awarded $655,000 in back wages, $225,000 in punitive damages, $10,000 for emotional distress, and more than $200,000 in legal costs.
The supply chain software provider has been the rumored target of industrial conglomerate Honeywell, but instead gets additional capital from Blackstone and majority owner New Mountain Capital.
The Advanced Air Cargo Screening pilot program has been analyzing pre-departure shipment data from voluntary participants for over five years, but U.S. Customs said it wants to iron out details before promulgating a rule for the entire air cargo industry.