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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Ocean carrier Hyundai Merchant Marine joining the 2M Alliance - comprised of Maersk Line and MSC - has fueled speculation about Maersk’s ultimate motives, but the short term impact is a larger share on the transpacific trade, especially from Korea.
Ocean carriers MOL, NYK and “K” Line all reported losses in their container segments and lower revenues year-over-year for the first fiscal quarter, which ended June 30.
United Arab Shipping Co. could sell off its UACC division, a tanker business for oil and petrochemicals, for more than $600 million as part of its plans to merge with German ocean carrier Hapag-Lloyd, according to a report from Bloomberg news service.