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.
Three of the four pre-qualified port terminal operators that will bid for control of the Corozal Container Terminal have ties to container shipping giants Maersk Line, Mediterranean Shipping Co. (MSC), and CMA CGM.
The 13,092-TEU containership COSCO Hope crashed into a gantry crane at Port Said as it was departing the Egyptian port, igniting a fire that spread to 20 containers and resulted in injuries to at least two people.
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The Baltic Exchange's main ocean freight index rose for the twelfth consecutive trading session Wednesday thanks to higher rates for panamax, supramax and handysize dry bulk vessels.
Although airfreight volumes fell compared to last February, the results were skewed from the impact of the U.S. port strikes in early 2015, which caused a surge in airfreight volumes, along with Chinese New Year falling in February this year.
There’s reason to hope that spring has arrived for the ocean freight industry, with one measure of the demand side rebounding from a record low, but the supply side is still a “horror show,” according to Bloomberg commodities columnist David Fickling.