The Pacific Maritime Association has proposed extending the contract until July 1, 2022, with a 3.1 percent yearly wage increase over the base wage rate of $42.18 per hour.

The North Liberty, Iowa-based trucking and logistics company reported a net income of $14 million and operating revenues of $130 million for the first quarter of 2017.

The Houston-based tank barge operator’s net earnings fell 27.8 percent year-over-year in the first quarter of 2017 to $27.5 million.

In segments described as liner or containership operations, NYK, MOL and “K” Line reported a combined loss of 77 billion yen (U.S. $691 million) for the fiscal year ending March 31, 2017, resulting from historically low freight rates.

The Phoenix, Ariz.-based truckload carrier and logistics provider, which recently announced a $6 billion merger with competitor Swift Transportation, saw first quarter net income fall 35.4 percent to $14.9 million compared with the same 2016 period.

United States gross domestic product increased just 0.7 percent in the first quarter of 2017, down from from a 2.1 percent growth rate the previous quarter and the slowest in three years, according to the “advance” estimate from the Department of Commerce.

Navios Maritime Holdings, Inc. will acquire 154.4 units in First Ship Lease Trust from FSL Holdings, and all issued and paid-up share of FSL Asset Management Ptd. Ltd.

The Norwegian global maritime industry group inked a deal to acquire the technical business solutions business from Drew Marine for approximately $400 million.

The new subsidiary will provide increased voyage frequencies and slots to Yang Ming’s service network within Southeast Asia, the Taiwanese ocean carrier said.

The Hong Kong-based ocean carrier’s container volumes increased 7 percent year-over-year, while revenues rose 6.4 percent from the corresponding 2016 period.