Container transport revenues at the Danish shipping conglomerate fell 20 percent year-over-year for the quarter due to a 26 percent decline in average freight rates.
The troubled South Korean ocean carrier received approval from seven lenders to restructure debts and will now turn its focus to restructuring ship chartering agreements.
SSA Marine's Oakland International Container Terminal, which has operated nights and Saturdays for two months to ease pressure on busy weekday cargo operations, will stay open three nights a week in a during a four-week trial.
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House lawmakers brushed aside calls at a hearing to slow implementation of the Verified Gross Mass rule, while other shippers said compliance should be straightforward.
Commercial practices for certifying the weight of ocean containers can be developed in a straight forward way, with few exceptions, according to officials from trade groups that bear ultimate responsibility for enforcement of the IMO rule.
The Dubai-based terminal operator will charge $245 Canadian for boxes arriving at the West Coast ports by truck or rail without verified gross mass data after the new International Maritime Organization rule goes into effect July 1.