The anti-globalization and anti-trade rhetoric of the U.S. presidential election has emerged as a primary economic threat to emerging countries, according to Bloomberg's Mohamed A. El-Erian .
United States GDP grew slightly more than initially expected in the first quarter of 2016, and durable goods orders ticked up in April, according to the most recent data from the Department of Commerce.
Meanwhile, the struggling South Korean ocean carrier said in a statement Sunday it expects to reach an agreement with ship owners regarding charter rate renegotiations “soon.”
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Ocean carriers CMA CGM, COSCO, Evergreen Line and OOCL revealed they will form a new alliance next April.
Matt Cox, chief executive officer of the Jones Act ocean carrier, says he would not be surprised if industry losses in 2016 exceed $10 billion, but Matson, which operates primarily between the U.S. mainland, Hawaii and Alaska, has limited exposure.
Consolidation in the ocean shipping industry is causing drastic changes to the current carrier vessel sharing agreements, but how will it all play out? American Shipper CEO Hayes Howard discusses some of the possible alliance scenarios.