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U.S. Naval Forces Central Command has begun accompanying U.S.-flagged maritime traffic in the Strait of Hormuz.
A.P. Moller Maersk reported a record-setting $1.6 billion in profits for the first quarter, thanks in part to Maersk Line profits of $714 million.
The third-party logistics provider also cut its first quarter loss in half.
Trade Promotion Authority, a bill that grants the president authority to conclude trade deals without congressional interference, moved forward in the Senate Thursday morning.
Three of the biggest U.S. retailers have said maintaining in-stock levels was a challenge in first quarter 2015 because of West Coast port disruption.
The Southern California port plans to acquire 3,000 container chassis in two steps.