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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Ocean carriers CMA CGM, COSCO, Evergreen Line and OOCL revealed they will form a new alliance next April.
Meanwhile, the U.S. Federal Maritime Commission is calling for carriers and shippers to work together to find a solution so exports are not left on the docks for lack of verified gross mass documentation come July 1.
The House subcommittee on Coast Guard and Maritime Transportation will hear testimony on April 14 about the International Maritime Organization's controversial verified gross mass requirement, which goes into effect July 1.