The U.S. Government Accountability Office found that tariff rates are generally more expensive than contract rates, but are usually more suitable for shippers with infrequent or small volume shipments.
A coalition of 25 business groups has asked the Federal Maritime Commission to address fees imposed when shippers can't pick-up and return cargo, containers and chassis for reasons beyond their control.
A merger of Yang Ming, which is 33 percent owned by the government, with a private company such as Evergreen Line, would be difficult to achieve, contends Chen Ou-po, a member of Taiwan’s ruling Democratic Progressive Party.
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However, Hanjin's creditors plan to decide whether to put the liner carrier under receivership by Tuesday, Yonhap news agency reported.
With 13 of the top 20 container lines reporting combined losses of $2.5 billion in the first half alone, industry losses will likely range from $8 billion to $10 billion for the full year, according to Lars Jensen, CEO of SeaIntelligence Consulting.
The ocean carrier’s revenue declined to $3.5 billion ($3.3 billion excluding the contribution from NOL) from the $4.1 billion in the second quarter of 2015 as the persistent pressure on freight rates drove down average revenue per TEU.