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Due to construction challenges and severe 2014 winter weather, the deck raising will now be completed in late 2017, with entire project to be completed in mid 2019, according to the Port Authority of New York and New Jersey.
Meanwhile, lane outages in the existing locks for maintenance could reduce available capacity for vessel traffic by up to 50 percent through the end of the month, according to maritime support services provider Gulf Agency Co.
After the seasonal suspension of the alliance's transpacific CC2 service, G6-operated loops from Asia to the West Coast of North America will deploy 7 percent less capacity in the trade.
After completing the long-awaited Trans-Pacific Partnership agreement on Monday, the Obama administration now faces its next challenge: promoting the trade pact to Congress and voters.
Just prior to announcing the board of TNT Express had approved its sale to FedEx, the company issued an investor alert warning shareholders that third quarter 2015 profits would be “materially lower” than in the third quarter of 2014.
A massive influx of refugees fleeing the war in Syria has resulted in increased wait times at border crossings and reduced volumes for trucking carriers, according to the International Air Cargo Association.