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A.P. Moller Maersk reported a record-setting $1.6 billion in profits for the first quarter, thanks in part to Maersk Line profits of $714 million.
Daewoo Shipbuilding will build more mega-ships for the Danish ocean carrier, according to recent media reports.
The International Longshore and Warehouse Union said 82 percent of its members voted in favor of ratification.
Pasha Group acquired Horizon Line's Hawaii trade lane operations, while Matson took over the ocean carrier’s Alaska business.
The benefits of upsizing are beginning to plateau and require more infrastructure investment, according to a new report by the OECD's International Transport Forum.
Rates on routes from Shanghai to the United States, on the other hand, rebounded from last week, according to estimates from the Shanghai Shipping Exchange.