American Shipper’s sister publication, the Adam Smith Project, wrote Monday about the dangers of recalibrating trade statistics to suit policy initiatives.
Chief Executive Officer Ted Fick resigned earlier this month amid a Washington State Auditor's Office investigation into an alleged $4.8 million in potentially illegal payouts to port employees.
Michael J. Ward and Clarence W. Gooden, chief executive officer and president of CSX, respectively, will retire from the company May 31, 2017, the Jacksonville, Fla.-based Class I railroad said in a statement.
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Michael A. Khouri is replacing Mario Cordero as acting chairman of the Federal Maritime Commission, but Cordero will remain as one of the five commissioners.
The agreement, which will infuse $26 billion into the state-run ocean shipping conglomerate over the next five years, will serve China's "One Belt, One Road" strategy, according to a statement from China COSCO Shipping.
According to BlueWater Reporting's Blanked Sailing's Report, a total of 188,592 TEUs are being withdrawn on the China to North America trade for the two weeks following Chinese New Year, up 50 percent from a year prior.