The Port of Houston authority announced its new policy on container weights, as well as container throughput for the the first quarter and developments with ongoing infrastructure improvement projects.
Overall revenues for NYK, MOL and "K" Line fell 5.4 percent, 6 percent and 8.1 percent, respectively, for the last fiscal year ended March 31, 2016.
The Atlanta, Ga.-based parcel giant posted a net income of $1.1 billion for the first quarter of 2016 on revenues of $14.4 billion, year-over-year increases of 10.2 percent and 3.2 percent, respectively.
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German ocean carrier Hapag-Lloyd revealed it is discussing a possible merger with United Arab Shipping Company.
The Port of Jacksonville appointed a senior director of facilities development, while Lamar University named an executive director of its new Center for Advances in Port Management.
Rates from Shanghai to Northwest Europe and the Mediterranean declined 6.9 percent and 6.6 percent, respectively, since last week, however various ocean carriers plan to increase rates from Asia to North Europe and the Mediterranean May 1.