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Business · WashingtonLawmakers are reluctantly intervening in a labor dispute to stop what would surely be a devastating blow to the nation's economy if the transportation of fuel, food and other critical goods was disrupted. Business groups including the U.S. Chamber of Commerce and the American Farm Bureau Federation have warned that halting rail service would cause a $2 billion per day hit to the economy.See the Story
House passes bill to avert rail strike
53% Center coverage: 144 sources
Protestors · WashingtonU.S. President Joe Biden said on Monday he was calling on Congress to intervene to avert a potential rail strike amid a railroad labor standoff that threatens to idle shipments of food and fuel and strand rail travelers.
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Biden asks Congress to help avert rail strike
62% Center coverage: 143 sources
New York City · New YorkAs global demand for Asian exports weakens, container carrier members of the Ocean Alliance are shifting post-Panamax ships from the trans-Pacific and Asia–Europe trades to the trans-Atlantic. Although adding capacity will put downward pressure on rates, increasing trade between the US and Europe should buoy the trans-Atlantic market.See the Story
Ocean Alliance upsizes trans-Atlantic route amid rate strength
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MoneyCSX Corp. announced Sept. 15 that James Foote will retire as president and CEO on Sept. 26. He will be succeeded by former Ford Motor Co. executive Joseph Hinrichs. Analysts have speculated about his eventual successor, focusing on possible internal candidates. CSX said the change in leadership is part of a planned succession process.See the Story
CSX railroad hires Ford executive to replace retiring CEO
57% Center coverage: 7 sources
Business · WashingtonPresident Joe Biden announced a tentative railway labor deal early Thursday, a last-minute agreement that averts a national rail strike. The new contracts provide rail employees a 24% wage increase during the five-year period from 2020 through 2024, including an immediate payout on average of $11,000 upon ratification.
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Biden announces tentative railway labor agreement to avert strike
62% Center coverage: 252 sources
New container terminal to create 1,000 new jobs at the Port of Baltimore
100% Center coverage: 1 sources
Third U.S. union rejects national rail contract deal
Coverage: 2 sources
Business · FelixstoweWorkers at Britain's biggest container port Felixstowe plan to stage a second eight-day strike over pay. Fresh strikes are planned from Sept. 27 to Oct. 5 after port workers voted by an 82% majority to reject a 7% pay offer. About 48% of all containers brought into the UK are transported through the Felixstow port.See the Story
Staff at Britain's busiest container port Felixstowe plan new strike
Coverage: 2 sources
New York City · New YorkOne railroad union has voted to ratify its labor agreement while another has split its vote, raising the prospect of a rail strike.See the Story
2 unions split votes on rail labor agreement
New York City · New YorkDismal November air cargo data has all but assured a weak end to 2022 with no sign of a seasonal uplift in demand or rate levels from an oversupplied market.See the Story
No seasonal uplift as air cargo market deteriorates further
India · IndiaAn economic partnership agreement signed earlier this year between India and the United Arab Emirates is driving new trade opportunities, prompting ocean carriers to boost service between the two countries.See the Story
