Registration takes less than 1 minute.
The South Korean ocean carrier reported operating profits in its container division fell over 73 percent year-over-year in the third quarter of 2015 despite volume growth of nearly 4 percent thanks to weak freight rates caused by overcapacity.
Box volumes at the largest U.S. East Coast port were up 11 percent year-over-year in October, driven primarily by a 9.8 percent spike in loaded import containers.
Chinese carriers COSCO and China Shipping told the Federal Maritime Commission they are in the beginning stages of a merger, while Bloomberg reported CMA CGM has entered into talks to buy APL parent Neptune Orient Lines.
Consumers continue to migrate to mobile devices to make purchases, with mobile devices accounting for 36 percent of Black Friday sales, according to Custora, a company that provides predictive analytics for e-commerce.
Net income at the Israeli ocean carrier improved vastly compared to loss of $63 million in the third quarter of 2014 despite a 12 percent year-over-year reduction in total revenues.
Rates from Shanghai to Northwest Europe and the Mediterranean skyrocketed, while rates to the United States inched up slightly from last week.