However, the global port operator increased container throughput by 5.5 percent from 2015.
Star Cool CA+ was established to extend the market reach of sensitive, low-respiring perishables, building on Maersk Container Industry’s Star Cool CA system for high-respiring fresh produce.
Korea Development Bank, DSME’s largest shareholder and main creditor, and the Export-Import Bank of Korea said they would provide funds to boost the shipbuilder’s cash flow and convert its liabilities into equity to cut debt.
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The new South Korean carrier has started two of five planned intra-Asia strings this week, is commencing a transpacific service in mid-April, and reportedly wants to launch a service to Savannah and New York in 2018.
Throughput of loaded containers at the Northern California port grew 6.1 percent in January 2017 compared with the same month a year ago, while overall volumes including empties grew 3 percent from 2016 levels.
Ocean freight rate benchmarking platform Xeneta said transpacific rates have been gradually rising since April, stripping out the short-term impact of Hanjin Shipping’s insolvency in late August.