Although the Malaysian ship owner reported lower profits and revenues for the third quarter of 2016 compared to a year prior, the company did have some notable accomplishments during the quarter.
G&W profits continue to slide in Q3 2016
Darien, Conn.-based short line railroad operator Genesee & Wyoming Inc. reported net income of $56.8 million on revenues of $501 million during third quarter 2016, year-over-year decreases of 10.4 percent and 8.3 percent, respectively.
Canada completely removes DOT-111s from crude-by-rail service
Effective Nov. 1, 2016, persons and organizations importing, handling or transporting crude oil into and within Canada are no longer legally allowed to use the older, less-reliable DOT-111 tank cars, Transport Canada said in a statement.
Seaspan posts $184m loss amid Hanjin turmoil
The Hong Kong-based containership lessor in Q3 2016 took impairment charges of $202.8 million related to ten ships under 5,000 TEUs in capacity and another $18.9 million related to the bankruptcy and subsequent default of Hanjin Shipping.
Froman warns U.S. will be ‘frozen out’ of Asia-Pacific if TPP fails
Although Hillary Clinton and Donald Trump have both stated they will not support the Trans-Pacific Partnership agreement, U.S. Trade Representative Michael Froman said the U.S. economy will be harmed if Congress rejects the free trade deal.
Executive Moves: TIA, DSV, Chapman Freeborn and AAPA
The Transportation Intermediaries Association appoints VP of education and DSV Road North America names president, while Chapman Freeborn selects chief commercial officer and the American Association of Port Authorities installs 2016-2017 chairman.
Analysts anticipate further ocean carrier consolidation
The recent announcement on Japan’s three major ocean carriers – MOL, NYK Line and “K” Line – merging container operations has left the industry wondering if more consolidation is to come.
West Coast longshoremen, employers discuss contract extension
Representatives from the Pacific Maritime Association and the International Longshore and Warehouse Union met Tuesday and discussed a possible extension of their current contract, which runs through June 30, 2019.
DOT extends comment period for rulemaking on speed limiting devices
Interested parties now have until Dec. 7 to submit comments on whether engine governors should be installed on all newly built commercial vehicles with a gross vehicle weight rating above 26,000 pounds.
WTO says expanded ITA is now mostly implemented
The World Trade Organization on Tuesday said most of the participating countries in the newly expanded Information Technology Agreement have implemented their tariff commitments under the deal.