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The Senate approved the short-term FAA bill, which was passed in the House of Representatives Monday, just one day before federal aviation funding was set to expire.
As the U.S. Coast Guard continues to search for survivors, experts say the now-likely loss off the TOTE Maritime cargo ship could be the worst disaster involving a U.S. flag vessel in decades.
The Danish shipping conglomerate has also begun a program to buy back $1 billion in company shares over the next year.
The Israeli ocean carrier recently returned to the black, posting adjusted net profits of $23 million in the second quarter of 2015 compared with a net loss of $50 million the previous year.
With more tonnage to be delivered next year, London-based shipping consultant Drewry says "the overhang of excess capacity [in the ocean freight industry] will be even greater than that experienced in 2009."
Capacity growth was relatively stagnant across the three major east-west trades in the third quarter of 2015, as slowing global trade and an economic recession in China caused volumes to remain weak even during the summer peak shipping season.