Although exports from Japan in September fell 6.9 percent from a year prior to 5.97 trillion yen, the decline was not as sharp as analysts had projected.
The Federal Maritime Commission said Friday it concluded its review of the proposed OCEAN Alliance, allowing the new ocean carrier alliance to take effect Monday, although it is not expected to commence operations until around April 2017.
PierPass, whose members consist of the 13 container terminals at the ports of Los Angeles and Long Beach, held a workshop last Thursday to evaluate extended gate options.
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Historically low ocean freight rates have caused carriers to implement cost-cutting measures that have reduced reliability, meaning shippers need to be more flexible in how they procure capacity.
An increasing amount of shippers are requesting “hidden” financial data from carriers, following weak carrier financials and Hanjin’s bankruptcy filing, according to shipping research and consulting firm Drewry.