The Berkshire Hathaway-owned Class I freight railroad will pay $50,000 in civil penalties related to a March 2015 crude oil train derailment in Galena, Ill., according to a statement from Illinois Attorney General Lisa Madigan.
Additional shippers and logistics companies have expressed support on a call for the Federal Maritime Commission to provide guidelines on detention and demurrage charges.
Hyundai Heavy Industries (HHI) is putting its restructuring plans on a shareholders’ meeting agenda for Feb. 27, but HHI workers plan to strike from Feb. 22-27 in attempts to block the meeting.
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The Danish shipping conglomerate reported a loss of about $1.9 billion for 2016.
Harold J. Daggett, president of the International Longshoremen’s Association, said the union will oppose fully-automated container terminals in upcoming contract talks with the United States Maritime Alliance.
Global trade in 2016 was sluggish, as import volumes and global container throughput dipped, but the negligible dip in global trade was accompanied by radical shifts in freight pricing.