The Federal Maritime Commission said Friday it concluded its review of the proposed OCEAN Alliance, allowing the new ocean carrier alliance to take effect Monday, although it is not expected to commence operations until around April 2017.
PierPass, whose members consist of the 13 container terminals at the ports of Los Angeles and Long Beach, held a workshop last Thursday to evaluate extended gate options.
Geneva-based Mediterranean Shipping Co. has confirmed it is looking to buy the now insolvent South Korean shipping company’s 54 percent stake in the Southern California container terminal.
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Investments in new projects are slowing, and Neil Davidson, senior analyst in Drewry’s ports and terminals practice, warned that a sudden rebound in demand could be a problem.
Bigger vessels that can fit through the expanded section of the Panama Canal represent a small portion of the total traffic so far, but the new locks have only been open for less than four months.
Peak season capacity took a major hit in third quarter 2016 as carriers scrambled to replace services interrupted by Hanjin Shipping’s Aug. 31 bankruptcy announcement.