Meanwhile, the struggling South Korean ocean carrier said in a statement Sunday it expects to reach an agreement with ship owners regarding charter rate renegotiations “soon.”
The Baltic Exchange, which had revenues of just $8.8 million last year, is more of a market-information service these days, generating indexes so members can work out fair cargo transport prices, according to Bloomberg's David Fickling and Andy Mukherjee.
The U.S. Federal Maritime Commission has received 17 ocean transportation intermediary license applications and changes for review.
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The Port of Savannah will weigh export containers at no cost to help shippers comply with new International Maritime Organization requirements for providing verified gross mass data to carriers.
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.
Approximately 37.5 percent of imports to the United States were contracted by non-vessel operating common carriers in the first quarter of 2016, according to research firm Datamyne.