FASA

Union Pacific’s failure to maintain its track and equipment resulted in broken and sheared lag bolts, which caused the June 3 derailment of a train near Mosier, Ore., according to a preliminary report from the Federal Railroad Administration.

Meanwhile, the pound slid the most on record to its weakest since 1985, while the yen rallied on demand for haven assets, following Britain’s vote to leave the European Union.

The total value of cross-border freight between the United States and North American trading partners Canada and Mexico slipped another 3.2 percent year-over-year in April 2016, according to the Bureau of Transportation Statistics.

The Antwerp Port Authority has appointed a new CEO, while Virgin Atlantic Cargo picks VP of sales and Matson appoints a director.

Hamburg-based investment firm HCI Capital voted this week to change its name to Ernst Russ.

The International Monetary Fund, which cut its 2016 U.S. growth forecast from 2.4 percent in April to 2.2 percent, said the nation’s economy faces several headwinds, including a strong dollar, sluggish business investment and weak global demand.

The first commercial passage of a neopanama containership through the new locks and third lane of the canal will occur on Sunday with the 9,472-TEU COSCO Panama.

The e-commerce logistics provider opened its DHL eCommerce Shenzhen Distribution Center and will also expand its existing distribution centers in Shanghai and Hong Kong as part of its plans to grow its presence in China by over 50 percent.

The U.S. Department of Transportation is looking into how delays at ports and other loading and unloading facilities may be affecting driver compliance with hours-of-service rules designed to increase safety.

Indonesia, Malaysia and the Philippines earlier this week agreed to several measures, including a designated transit corridor, to protect shipping interests in shared maritime areas that have been targeted by Abu Sayyaf militants.