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No reasons was given for NYK's decision, but industry officials say it is tough for carriers to make money in the north-south trade lanes today.
The Japanese ocean liner carriers and three executives at the companies allegedly conspired to fixed prices on roll-on/roll-off cargo, according to the U.S. Department of Justice.
The state of Indiana and the province of Quebec will establish a partnership through which they will launch an initiative to study opportunities to strengthen short-sea shipping in the area via greater regional collaboration.
The fund will be held and administered by the Seamen’s Church Institute, North America’s largest mariners’ service agency, following the structure put in place by TOTE.
The entire investigation into the loss of TOTE Maritime Puerto Rico ship will take 12-18 months, but the NTSB will release findings on an "as needed" basis in advance of its final report.
The national mail carrier of Singapore and aspiring global logistics provider has agreed to purchase a 71.1 percent share in Jagged Peak, Inc. for $15.8 million.