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.
The U.S. Secretary of Commerce said in an interview on MSNBC’s “Morning Joe” program the Trans-Pacific Partnership and North American Free Trade Agreement, provide clear benefits to American workers.
Macquarie, which already owns several container terminals in the U.S. and Canada, will now own the largest container terminal at the Port of New York and New Jersey.