The U.S. Department of Transportation is looking into how delays at ports and other loading and unloading facilities may be affecting driver compliance with hours-of-service rules designed to increase safety.
Union Pacific’s failure to maintain its track and equipment resulted in broken and sheared lag bolts, which caused the June 3 derailment of a train near Mosier, Ore., according to a preliminary report from the Federal Railroad Administration.
Meanwhile, the pound slid the most on record to its weakest since 1985, while the yen rallied on demand for haven assets, following Britain’s vote to leave the European Union.
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Pacific Maritime Association President and CEO James McKenna said he expects to hear from International Longshore and Warehouse Union this summer on whether it wants to discuss the extension of the five-year labor contract.
Net orders for North American Class 8 trucks in April dropped 16 percent from March and 39 percent compared with April 2015, according to preliminary data from freight forecaster FTR Transportation Intelligence.
Stock in South Korea’s second-biggest container carrier fell the most in three weeks in Seoul trading on uncertainty over whether the company would obtain deep discounts for rates on leased vessels in its negotiations with shipowners.