The Port of Houston authority announced its new policy on container weights, as well as container throughput for the the first quarter and developments with ongoing infrastructure improvement projects.
Overall revenues for NYK, MOL and "K" Line fell 5.4 percent, 6 percent and 8.1 percent, respectively, for the last fiscal year ended March 31, 2016.
The Atlanta, Ga.-based parcel giant posted a net income of $1.1 billion for the first quarter of 2016 on revenues of $14.4 billion, year-over-year increases of 10.2 percent and 3.2 percent, respectively.
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House lawmakers brushed aside calls at a hearing to slow implementation of the Verified Gross Mass rule, while other shippers said compliance should be straightforward.
Commercial practices for certifying the weight of ocean containers can be developed in a straight forward way, with few exceptions, according to officials from trade groups that bear ultimate responsibility for enforcement of the IMO rule.
The Dubai-based terminal operator will charge $245 Canadian for boxes arriving at the West Coast ports by truck or rail without verified gross mass data after the new International Maritime Organization rule goes into effect July 1.