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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The Federal Maritime Commission said Friday it concluded its review of the proposed OCEAN Alliance, allowing the new ocean carrier alliance to take effect Monday, although it is not expected to commence operations until around April 2017.
Total deal value and volume in the transportation and logistics industry in third quarter 2016 fell 30 percent and 11 percent, respectively, from the previous quarter, according to a new report from PricewaterhouseCoopers.
With just a few months before the new ocean carrier vessel sharing agreement THE Alliance, of which Yang Ming is a member, is set to launch, work still needs to be done to finalize port rotations and vessel deployment plans.