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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The Water Resources Development Act reauthorization includes provisions sought by the nation's port authorities related to how harbor deepening projects are funded, getting more money for maintenance dredging in the pipeline and authorizing new projects.
Federal Maritime Commissioner William P. Doyle praised the statement from ocean carrier group OCEMA, but noted officials "still need to address an important liability issue for the shippers" in order to implement new verified gross mass requirements.
With only 10 weeks to go until the container weight verification rule goes into effect globally, surveys show shippers and LSPs are still mostly unprepared to comply.