The international oil shipping services provider, which paid Bretta Tanker Holdings $15.1 million in the second quarter of 2016, saw profits for the first half of 2016 slip 11.3 percent year-over-year to $153.7 million.
The Port of New York and New Jersey, which experienced the second busiest June ever for box volumes, was called by a 10,077-TEU containership at the GCT Bayonne Terminal.
The U.S. gross domestic product increased 1.2 percent in the second quarter of 2016, according to the “advance” estimate from the Department of Commerce, following a revised increase of just 0.8 percent in the first quarter.
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Rolf Habben Jansen, the chief executive officer of ocean carrier Hapag-Lloyd, said he believes consolidation in the shipping industry resulting from deals such as Monday’s merger agreement between Hapag-Lloyd and UASC will benefit the container industry.
Federal Maritime Commissioner Richard A. Lidinsky Jr. said that ports in the United States must continue to expand and improve to handle rising container volumes in order to stay competitive with neighboring foreign ports.
APM Terminals has been unwittingly entangled in a bribery scandal surrounding Guatemala’s former president Otto Perez Molina as a result of its purchase of Spanish port operator Grup TCB, according to a report from Danish news outlet Fagbladet 3F.