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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However, the International Maritime Organization's Maritime Safety Committee said there should be no delay in the implementation of the verified gross mass rule.
Thanks to $100 million investment in infrastructure improvements, the Port of Wilmington, N.C. will be able to handle 10,000-TEU vessels by this summer, the North Carolina State Ports Authority said in a statement.
SAL appoints manager of Singapore office, while Union Pacific appoints cyber-security expert to board and Johanson Transportation Service announces promotions.