Meanwhile, the struggling South Korean ocean carrier said in a statement Sunday it expects to reach an agreement with ship owners regarding charter rate renegotiations “soon.”
The Baltic Exchange, which had revenues of just $8.8 million last year, is more of a market-information service these days, generating indexes so members can work out fair cargo transport prices, according to Bloomberg's David Fickling and Andy Mukherjee.
The U.S. Federal Maritime Commission has received 17 ocean transportation intermediary license applications and changes for review.
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Terminal operator Ports America says it will accept containers without the required container weight data and, if necessary, allow boxes to be weighed afterwards for compliance with the International Maritime Organization's new verified gross mass rule.
Container terminals improve thanks to better processes, land use and IT.
The U.S. Army Corps of Engineers officially opened the Soo Locks, in Sault Ste. Marie, Mich. today at 12:01 a.m., the Great Lakes Seaway Partnership said.