Container transport revenues at the Danish shipping conglomerate fell 20 percent year-over-year for the quarter due to a 26 percent decline in average freight rates.
The troubled South Korean ocean carrier received approval from seven lenders to restructure debts and will now turn its focus to restructuring ship chartering agreements.
SSA Marine's Oakland International Container Terminal, which has operated nights and Saturdays for two months to ease pressure on busy weekday cargo operations, will stay open three nights a week in a during a four-week trial.
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Meanwhile, Rep. Mark Sanford, R.-S.C. asked why commercial ships in domestic trade must be built in U.S. when 30 of 46 ships in Ready Reserve Fleet are foreign built.
Agriculture shippers ask Senate for help with overcoming “significant challenges” in ocean shipping that could hurt the American economy.
Crowley Maritime, a pioneer in a trade that is still restricted under laws such as the Helms-Burton Act and Trading with the Enemy Act, has actually seen volumes fall in recent years as Cubans have begun importing more from Brazil, and perhaps Argentina.