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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The National Transportation Safety Board hopes to recover the voyage data recorder and use it in the agency's investigation into why the TOTE Maritime general cargo vessel sank last fall, claiming the lives of 33 crew members on board.
German ocean carrier Hapag-Lloyd revealed it is discussing a possible merger with United Arab Shipping Company.
China COSCO Holdings Co. Ltd., which now includes the combined operations of China Shipping Container Lines Co., reported losses in both its container shipping and dry bulk operations during the first quarter as rates in both segments plummeted.