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.”
The Baltic Exchange, which had revenues of just $8.8 million last year, is more of a market-information service these days, generating indexes so members can work out fair cargo transport prices, according to Bloomberg's David Fickling and Andy Mukherjee.
The U.S. Federal Maritime Commission has received 17 ocean transportation intermediary license applications and changes for review.
Registration takes less than 1 minute.
Meanwhile, the European Commission Competition Directorate has set a “provisional deadline” for a decision on CMA CGM's purchase of APL parent Neptune Orient Lines for this Friday, April 29.
Econocaribe has become one of the biggest NVOs in the U.S. market during its 28 years, but the company is now fully integrated in name and operations with parent company ECU Line.
The cost would be triggered if the U.S. Treasury Department approves benefit cuts to protect the solvency of the Central States Pension Fund, which UPS pulled out of in 2007 but agreed to make up any losses its remaining members experienced.