The terminal operator increased spending from $70 million to $200 million in preparation for ultra large containerships.
Matson President and CEO Matt Cox said the Honolulu-based shipping company had “exceptional” results for the full year of 2015, while fourth quarter 2016 results were hindered by the increase in bunker fuel prices from mid-November through December.
Drewry research conducted on behalf of software provider CargoSphere found that forwarders spend about $500 million a year on ocean freight rate acquisition and management.
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Two Floridian ports changed plans on inking deals with the Cuban government after Florida Gov. Rick Scott said he would recommend restricting state funds for ports that work with Cuba.
The Israeli container carrier told American Shipper Friday it is rejecting the rumor that it has intentions to sell its global shipping operations to instead become a regional Mediterranean carrier.
The deployment of ultra-large containerships has not only increased average vessel size on key east west trades, but has accelerated the consolidation of carriers into vessel sharing agreements and alliances.