U.S. gross domestic product increased 2.9 percent in the third quarter of 2016, according to the “advance” estimate from the Department of Commerce, following a revised increase of 1.4 percent in the second quarter.
In addition to the six 13,010-TEU Hanjin Shipping vessels to be chartered to Maersk Line, a group led by HSH Nordbank could also acquire another three ships and lease them out to Maersk’s 2M Alliance partner MSC, according to multiple media reports.
The truckload transportation and logistics services provider reported a net income of $23.4 million on $280.5 million in revenues in the third quarter of 2016, year-over-year decreases of 22.9 percent and 6.5 percent, respectively.
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A construction project at the west African port officially began and will drastically increase the port’s container capacity.
The Massachusetts Port Authority said the Conley Terminal will be upgraded with an additional berth and three new cranes, while the Boston Harbor will be dredged to accommodate 12,000-TEU vessels.
Meanwhile, the Port of Los Angeles signed a partnership with the U.S. Department of Commerce and the Center for Global Supply Chain Management to advance the use of technology at ports in order to make them more globally competitive.