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Ocean carrier APL will launch a new service between North Asia and the West Coast of the United States Nov. 1 that will feature some of the most competitive transit times in the trade.
Tensions related to John Walsh's leadership style and disparaging remarks about people opposed to plans for growing cargo and a freight-rail connection led the Port Canaveral Commission to seek his removal.
The builders of the new locks will reinforce the sills in all the locks, even where no leaks observed, and still expect to meet their April 2016 deadline, according to a statement from the Panama Canal Authority.
The Israeli ocean carrier recently returned to the black, posting adjusted net profits of $23 million in the second quarter of 2015 compared with a net loss of $50 million the previous year.
With more tonnage to be delivered next year, London-based shipping consultant Drewry says "the overhang of excess capacity [in the ocean freight industry] will be even greater than that experienced in 2009."
Capacity growth was relatively stagnant across the three major east-west trades in the third quarter of 2015, as slowing global trade and an economic recession in China caused volumes to remain weak even during the summer peak shipping season.