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The Danish shipping conglomerate attributed the decline to lower freight rates at Maersk Line and lower oil prices for Maersk Oil, leading the company to downgrade its full-year profit projection for 2015.
TOTE Maritime alleges it exercised due diligence to supply the ill-fated cargo ship with suitable and working engines, personnel, and other necessary equipment, according to recent court filings.
A DSD Shipping company memo warned employees "could get caught for polluting" if an oily-water separator on the vessel Stavanger Blossom was not fixed, and now three seamen face the possibility of up to 20 years in prison.
Industry groups said they are willing to work with the port to speed cargo through POLB, but expressed concern about how the plan might affect shippers, who want to pick up containers faster but say getting chassis and trucking capacity can be difficult.
U.S. Agriculture Secretary Tom Vilsack said at the conclusion of the JCCT meeting Monday that China indicated it will review 11 biotechnology applications and continue the dialogue on U.S. beef.
Port of Miami Terminal Operating Company, the only non-carrier affiliated terminal, saw its volumes double to 22,225 TEUs, the largest percentage gain among the three container terminals at the South Florida port.