Container transport revenues at the Danish shipping conglomerate fell 20 percent year-over-year for the quarter due to a 26 percent decline in average freight rates.
The troubled South Korean ocean carrier received approval from seven lenders to restructure debts and will now turn its focus to restructuring ship chartering agreements.
SSA Marine's Oakland International Container Terminal, which has operated nights and Saturdays for two months to ease pressure on busy weekday cargo operations, will stay open three nights a week in a during a four-week trial.
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The Port Authority of New York and New Jersey is seeking to resolve an investigation by the U.S. Securities and Exchange Commission into the agency’s bond statements on the financing of tunnel, bridge and road projects.
The OCEMA working group published recommendations for how and when shippers should submit SOLAS container weight verification data ahead of the July 1 implementation deadline.
The 3rd Circuit U.S. Court of Appeals decision, which relies on a 1866 Supreme Court opinion, is being heralded as a victory for ocean carriers.