United States GDP grew slightly more than initially expected in the first quarter of 2016, and durable goods orders ticked up in April, according to the most recent data from the Department of Commerce.
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 French ocean carrier reported it will pay 1.3 Singapore dollars (U.S. $0.94) for the Neptune Orient Line shares it does not already own, control or has agreed to acquire.
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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.
Freight forwarders and air cargo companies must move quickly to improve business models and implement sophisticated analytics, according to Michael Bentley of Revenue Analytics.
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.