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There appears to have been some improvement in vessel waiting times, but the Panama Canal Authority announced on Sunday it will take additional steps in an attempt to to clear the backlog of ships at the Central American waterway.
French ocean carrier CMA CGM and its subsidiary lines Cheng Lie Navigation, ANL and Delmas will join Hanjin's KPI service, which operates between Korea, China, Singapore and Indonesia.
The South Korean ocean carrier reported operating profits in its container division fell over 73 percent year-over-year in the third quarter of 2015 despite volume growth of nearly 4 percent thanks to weak freight rates caused by overcapacity.
Consumers continue to migrate to mobile devices to make purchases, with mobile devices accounting for 36 percent of Black Friday sales, according to Custora, a company that provides predictive analytics for e-commerce.
Net income at the Israeli ocean carrier improved vastly compared to loss of $63 million in the third quarter of 2014 despite a 12 percent year-over-year reduction in total revenues.
Rates from Shanghai to Northwest Europe and the Mediterranean skyrocketed, while rates to the United States inched up slightly from last week.