The Coast Guard Authorization Act of 2017 and the Maritime Administration Authorization and Enhancement Act for Fiscal Year 2018 were among six bills approved by the Senate Committee on Commerce, Science, and Transportation on Thursday.
EC updates public investment rules for ports
The executive arm of the European Union has approved new state aid rules that promote public investment in seaports and airports while preserving competition, according to the press release from the European Commission.
Descartes Systems Group acquires ShipRush
“ShipRush services help e-commerce small and medium businesses and omnichannel retailers execute parcel shipments for last-mile delivery to customers,” Descartes said in a statement.
SCFI falls 4%
Container freight rates from Shanghai to the U.S. West Coast declined 8.5 percent since last Friday to $1,310 per forty-foot container, according to the latest data from Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI).
Great Lakes steel production drops 6.8%
Steel production fell by 47,000 tons last week in the Great Lakes region, according to local news source NW Indiana Times.
Executive Moves: YRC and Baltic Exchange
YRC Worldwide Inc. names chief financial officer, and the Baltic Exchange appoints chief commercial officer.
Canada’s proposed Transportation Modernization Act
The Transportation Modernization Act, Bill C-49, which is sponsored by Minister of Transport Marc Garneau, is calling for the installation of locomotive voice and video recorders in locomotive cabs, and a new air passenger rights regime.
Trump kicks off NAFTA renegotiation process
U.S. Trade Representative Robert Lighthizer said in a call with reporters Thursday morning the administration hopes to renegotiate the deal, rather than scrap it altogether, the Washington Post reported.
Injunction to block sale of Rickmers ships to Navios withdrawn
Meanwhile, the Hamburg-based shipping company on Wednesday published a lengthy question and answer document explaining the firm’s plans to restructure its debt.
Cargojet profits down 40% in Q1
The Canadian cargo airline posted net earnings of C$2.6 million (U.S. $1.91 million) for the quarter despite revenues rising 13.3 percent to C$87.1 million compared with the first quarter of 2016.