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Container business was hampered by overcapacity caused by the delivery of ultra-large containerships, depreciation of the euro and an economic slump in Europe, according to ocean carrier NYK.
Stock in both Canadian Pacific Railway Ltd. and Norfolk Southern Corp. shot up yesterday amid rumors the second-largest Class I railroad in Canada is mulling a potential takeover of NS.
One of the common themes in presentations from railroad industry executives and experts at the RailTrends 2015 conference in New York City was the shift in customer expectations from that of a speed-oriented service to one based on reliability.
The U.S. Gulf port also expects to benefit from continuing population migration to Texas and the expansion of Panama Canal, which is scheduled to be completed in April 2016.
Meanwhile, a Federal Aviation Administration task force released its recommendations regarding a registration program for unmanned aircraft systems that will affect the use of drones in both commercial and recreational settings.
Box volumes at the largest U.S. East Coast port were up 11 percent year-over-year in October, driven primarily by a 9.8 percent spike in loaded import containers.