Container transport revenues at the Danish shipping conglomerate fell 20 percent year-over-year for the quarter due to a 26 percent decline in average freight rates.
The troubled South Korean ocean carrier received approval from seven lenders to restructure debts and will now turn its focus to restructuring ship chartering agreements.
SSA Marine's Oakland International Container Terminal, which has operated nights and Saturdays for two months to ease pressure on busy weekday cargo operations, will stay open three nights a week in a during a four-week trial.
Registration takes less than 1 minute.
The Dubai-based terminal operator will charge $245 Canadian for boxes arriving at the West Coast ports by truck or rail without verified gross mass data after the new International Maritime Organization rule goes into effect July 1.
Ordering of containerships eased in the fourth quarter of 2015 despite attractive shipyard prices because carriers are running out of profitable trades on which to deploy them, according to London-based shipping consultant Drewry.
The new International Maritime Organization container weight rule was just one of many concerns raised during the Port of Long Beach’s annual Pulse of the Ports Peak Season Forecast on Wednesday.