United States GDP grew slightly more than initially expected in the first quarter of 2016, and durable goods orders ticked up in April, according to the most recent data from the Department of Commerce.
Meanwhile, the struggling South Korean ocean carrier said in a statement Sunday it expects to reach an agreement with ship owners regarding charter rate renegotiations “soon.”
The French ocean carrier reported it will pay 1.3 Singapore dollars (U.S. $0.94) for the Neptune Orient Lines' shares it does not already own, control or has agreed to acquire.
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Annual costs at container lines have increased a combined $500 million due to new sulfur emissions rules requiring vessels to use more expensive fuel, according to a report released last week by the Organisation for Economic Co-operation and Development.
The U.S. Coast Guard bulletin regarding compliance with the International Maritime Organization's verified gross mass requirement "seems to allow for more flexibility," says Federal Maritime Commission Chairman Mario Cordero.
The Water Resources Development Act reauthorization includes provisions sought by the nation's port authorities related to how harbor deepening projects are funded, getting more money for maintenance dredging in the pipeline and authorizing new projects.