Any tie-up between the two railroads would be classified as a “major transaction” under US Surface Transportation Board regulations and subject to a rigorous review that could take two to three years.
The negative foreign exchange effects were most noticeable in the forwarder’s US dollar-denominated ocean freight business, where earnings fell sharply in the second quarter.
Local freight forwarders have reported rate increases in the range of $300 to $500 per FEU month over month and expect further slight gains if the pace of demand remains steady.