While a host of technology startups have adopted Uber-like models to tackle automated freight matching in the trucking industry, in the last two months, Uber themselves and Amazon have jumped in the fray.
Executive Moves: Port of Tacoma, Tulsa Port of Catoosa and Air France-KLM Cargo
The Port of Tacoma Commission names new president, while Tulsa Port of Catoosa promotes director and Air France-KLM Cargo appoints executive vice president.
Icahn to sell American Railcar to Japanese bank
Billionaire Carl Icahn’s investment firm has agreed to sell the rail equipment manufacturer to a Chicago-based subsidiary of Japan’s Sumitomo Mitsui Financial Group in a deal that could be worth up to $3.36 billion, the company said in a statement.
Commerce investigates Canadian lumber imports
The Commerce Department has initiated antidumping and countervailing duty investigations of certain softwood lumber products imported into the United States from Canada.
U.S. takes on China’s rice, wheat and corn quotas
The United States initiated a trade enforcement challenge in the WTO concerning China’s tariff-rate quotas for rice, wheat and corn, which it alleges breach the country’s WTO commitments and undermine American farm exports.
Global forum formed to tackle excess steel production
The Group of 20 and other steel producing countries established the Global Forum on Steel Excess Capacity in an effort to share information and “take effective steps to deal with the root causes of excess capacity,” U.S. Commerce Secretary Pritzker said.
Commentary: Another day, another M&A rumor
Analysts have speculated ZIM could be the next firm swept up in the wave of consolidation in the ocean shipping industry, but the Israeli carrier has outright rejected the idea it is looking to sell its global operations.
STB green lights G&W purchase of P&W Railroad
The U.S. Surface Transportation Board has approved a petition from Genesee & Wyoming Inc. to acquire the Providence & Worcester Railroad Co., subject to certain conditions, according to a filing from the agency.
HMM reports profit in Q3
The South Korean liner carrier, which reported a profit of 297 billion South Korean won on revenues of 1.078 trillion won for the third quarter of 2016, is reportedly planning to buy five containerships and three or five oil tankers.
GCT, Port Authority of NY/NJ break ground on new intermodal terminal
The ExpressRail Port Jersey facility will be located adjacent to the recently expanded GCT Bayonne container terminal and is scheduled for completion in mid-2018.