The terminal operator increased spending from $70 million to $200 million in preparation for ultra large containerships.
Matson President and CEO Matt Cox said the Honolulu-based shipping company had “exceptional” results for the full year of 2015, while fourth quarter 2016 results were hindered by the increase in bunker fuel prices from mid-November through December.
Drewry research conducted on behalf of software provider CargoSphere found that forwarders spend about $500 million a year on ocean freight rate acquisition and management.
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COSCO may make a bid of more than $4 billion for Hong Kong-based Orient Overseas Container Line, according to various media reports.
Starting in April, Hamburg Süd's cargo will be shipped on vessels in the 2M network, a carrier alliance consisting of Maersk Line and MSC.
The world’s second largest container carrier, Geneva, Switzerland-based Mediterranean Shipping Company, may acquire a stake in Ignazio Messina & Co.