FASA

The International Monetary Fund is forecasting the global economy to increase at a 3.1 percent pace in 2016 and 3.4 percent in 2017, both down 0.1 percentage points from previous projections.

Captain John Loftus, who was fired in 2013 after working for Horizon Line for 20 years, has been awarded $655,000 in back wages, $225,000 in punitive damages, $10,000 for emotional distress, and more than $200,000 in legal costs.

Canadian Pacific Railway Limited posted net income of $328 million Canadian (U.S. $251 million) in the second quarter of 2016 on revenues that slid 12 percent to C$1.45 billion compared to the same 2015 period, according to the company’s latest financial s

Ocean carrier MSC will end its IPAK to join the EPIC 1 with CMA CGM and UASC as a vessel operator, while Hapag-Lloyd and Hamburg Sud’s ELIP service will morph into the EPIC 2, which will then be operated by CMA CGM, Hapag-Lloyd and Hamburg Sud.

The expanded locks are expected to reshape U.S. East Coast port operations.

The 2M Alliance carriers’ TP12/Empire will become an eastbound around-the-world service in September, instead of using the Suez Canal in both directions.

Pricing dropped another 1.5 percent for the month compared with June 2015, according to the latest Cass Intermodal Price Index, and analysts with Avondale Partners expect this trend to continue through the rest of the year.

The South Carolina Ports Authority’s terminals handled 1.9 million TEUs of containerized cargo during its 2016 fiscal year, which ended June 30, a 1.4 percent year-over-year increase.

Truckload pricing dipped another 1.8 percent in June 2016 compared to the same 2015 period, the fourth consecutive month of year-over-year declines, according to the latest Cass Truckload Linehaul Index.

The U.S. Department of Transportation has picked four airlines that are expected to provide new daytime flights to Tokyo, Japan’s Haneda Airport as early as this fall.