Transportation planners and industry executives briefed House lawmakers last week on progress made so far with implementing freight provisions of the FAST Act.
The parcel carrier’s expedited shipping segment will raise prices by an average of 3.9 percent in Germany, effective Jan. 1, 2017, with prices in other countries varying based on local conditions, the company said in a statement.
The total value of cross-border freight between the United States and North American trading partners Canada and Mexico slipped another 6.4 percent year-over-year in June 2016, according to the Bureau of Transportation Statistics.
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Following the recent collapse of Hanjin Shipping, “there will be a wave of consolidation” in the industry and CMA CGM could participate even after its recent purchase of APL parent Neptune Orient Lines, according to vice chairman Rodolphe Saadé.
The London-based shipping research and consulting firm said that as currently planned, “The Alliance” will be "at a size disadvantage," making up 24 percent of East-West capacity.
Despite the recent increase in rates on major east-west trade lanes, the container shipping industry “remains mired in troubled waters,” according to the ocean freight rate benchmarking and market intelligence provider.