American Shipper is gathering feedback from shippers, carriers, and others to better understand perspectives on how well the Federal Maritime Commission is doing as chief U.S. regulator of the shipping industry.
The shipping research and consulting firm attributed November’s year-over-year increase in idled containership capacity to the Panama Canal’s new locks, which made smaller containerships less attractive, along with Hanjin’s bankruptcy.
The Dubai-based operator will own 55 percent of a new vehicle targeting port and terminal investment opportunities outside of the United Arab Emirates, while Canadian pension fund Caisse de dépôt et placement du Québec will hold the other 45 percent.
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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.
FMC Commissioner Doyle says provisions in new vessel sharing agreement could protect other members in the event of a Hanjin-like bankruptcy.
The U.S. government has announced another round of amendments to the Cuban Assets Control Regulations and Export Administration Regulations, further eliminating many long-held U.S. trade restrictions against the Caribbean island nation.