The U.S. International Trade Commission has requested input on a new investigation concerning proposed modifications to the U.S.-Chile Free Trade Agreement’s rules of origin.
CAFTA-DR modifications to have minimal trade impact
The U.S. International Trade Commission said currently proposed modifications to the Dominican Republic-Central America-U.S. Free Trade Agreement would have a minimal economic impact on the U.S. economy.
World trade volumes decline in Q1
During the first quarter of 2016, world trade volumes fell 1.1 percent from the prior quarter and 1 percent from the corresponding quarter in 2015.
Seaspan rejects Hanjin charter rate cut
The containership lessor said it won’t accept Hanjin Shipping’s request for a 30 percent reduction in charter rates, a development that could jeopardize the struggling South Korean line’s restructuring plans.
Crude oil prices fall to lowest level in a month
Brent crude closed at $47.19 a barrel, the lowest since May 10, while West Texas Intermediate slipped to $46.21, the lowest since May 13 and the biggest one-day drop since April 1, on concerns about slowing global growth.
FedEx settles driver misclassification suit for $240m
The parcel carrier has agreed to pay $240 million to settle lawsuits covering around 13,000 divers across 20 states who claimed they should have been treated as employees instead of independent contractors.
Moran Transportation acquires Mats Trucking
Great Lakes regional less-than-truckload carrier Moran Transportation Corp. purchased the assets of Eagan, Minn.-based Mats Trucking for an undisclosed sum back in April, but waited until rebranding was complete to announce it.
Industry groups urge FRA to abandon two-person train crew rule
The Association of American Railroads and American Short Line and Regional Railroad Association spoke out against a proposed Federal Railroad Administration rule that would mandate two-person crews on all trains.
3PL adds Charleston warehouse dedicated to forestry products
Family-owned third-party logistics provider Wainwright Industries is adding a second facility near the Port of Charleston.
Metals shipper pleads guilty to illicit exports to Iran
The CEO of Global Metallurgy pleaded guilty to one count of conspiring to violate the International Emergency Economic Powers Act in relation to the export of specialty metals from the United States to Iran.