United States gross domestic product increased 1.2 percent in second quarter 2016, according to the “advance” estimate from the Department of Commerce, following a revised increase of just 0.8 percent in the first quarter.
Rates from Shanghai to Northwest Europe, which hold a 20 percent weight on the overall index, skyrocketed 57.8 percent since last week, from $713 per TEU to $1,125 per TEU.
The Dubai-based port terminal operator signed a 30-year lease with Port Saint John on the East Coast of Canada to operate its West Side Container Terminal, DP World and port officials said in a joint statement Thursday.
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At Kawasaki Kisen Kaisha Ltd.’s shareholder meeting last week, votes against CEO Eizo Murakami surged threefold to 330,094 from last year.
The A.P. Moller-Maersk Group, parent company of Danish liner carrier Maersk Line, has named Soren Skou as its new chief executive officer.
Ocean carrier Hyundai Merchant Marine joining the 2M Alliance - comprised of Maersk Line and MSC - has fueled speculation about Maersk’s ultimate motives, but the short term impact is a larger share on the transpacific trade, especially from Korea.