FASA

The Antwerp-based independent tanker company recorded a $204 million profit on revenues of $684.3 million for 2016, year-over-year declines of 41.8 percent and 19.2 percent, respectively.

The system will utilize algorithms and integrate canal operations to shorten vessel waiting times and improve reliability.

In addition, Hong Kong-based Orient Overseas Container Line is scheduled to receive a series of 20,000-TEU ships later this year.

Class I freight railroads had installed positive train control on 16 percent of required track as of Dec. 31, 2016, up from 12 percent in the third quarter 2016, according to the latest PTC status update from the Federal Railroad Administration.

There were no injuries to the crew or the public, no releases and no impacted motorist grade crossings from the train derailment that occurred early Wednesday morning in Lake Forest, Ill., Union Pacific spokeswoman Calli Hite said Thursday.

The Singapore-based ocean carrier, now a subsidiary of France’s CMA CGM, will commence an intra-Asia service between China, Korea, Taiwan and the Philippines with the first sailing departing from Xingang on April 9, the company said in a statement.

Dubbed Dania Ship Management, the joint venture will specialize in ship management in the Scandinavia region.

American Trucking Associations promotes four staffers and hires new vice president of creative services and new director of marketing, while Xeneta appoints director of value engineering, and SmartTruck names vice president of sales and marketing.

South Korean ocean carrier Hyundai Merchant Marine said it expects to save costs and boost competitiveness through the “2M+H Strategic Cooperation,” which was signed Wednesday in Sausalito, Calif.

Global investment management firm Arcapita said the transaction, together with the eight warehousing facilities it acquired last year in the Al Quoz Industrial Area of Dubai, is bringing the value of its UAE logistics portfolio to $250 million.