The Hong Kong-based carrier transported 5.2 percent more containers in the third quarter of 2016 compared to a year earlier, but average revenue per TEU for the quarter fell 18.1 percent year-over-year.
U.S. gross domestic product increased 2.9 percent in the third quarter of 2016, according to the “advance” estimate from the Department of Commerce, following a revised increase of 1.4 percent in the second quarter.
In addition to the six 13,010-TEU Hanjin Shipping vessels to be chartered to Maersk Line, a group led by HSH Nordbank could also acquire another three ships and lease them out to Maersk’s 2M Alliance partner MSC, according to multiple media reports.
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A new Visibility Benchmark Study from American Shipper also found that third-party logistics companies have a major problem delineating their cost to provide visibility to shippers.
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.
Sandler, Travis & Rosenberg hires leading export control and economic sanctions attorney, while Greenbrier Leasing Corp's president announces retirement.