The U.S. Coast Guard bulletin regarding compliance with the International Maritime Organization's verified gross mass requirement "seems to allow for more flexibility," says Federal Maritime Commission Chairman Mario Cordero.
Three of the four pre-qualified port terminal operators that will bid for control of the Corozal Container Terminal have ties to container shipping giants Maersk Line, Mediterranean Shipping Co. (MSC), and CMA CGM.
The 13,092-TEU containership COSCO Hope crashed into a gantry crane at Port Said as it was departing the Egyptian port, igniting a fire that spread to 20 containers and resulted in injuries to at least two people.
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The proposed alliance would become a dominant player in the three major east-west trades, beating out total capacity currently offered by the 2M Alliance on those trade lanes, according to an analysis from BlueWater Reporting.
The International Monetary Fund cut its 2016 expansion forecast to 3.2 percent as weak exports and slowing investment dim prospects in the U.S., a consumption-tax hike saps growth in Japan, and a slump in prices continues to hobble commodities producers.
South Korea’s biggest container carrier plans to raise about 410 billion won (U.S. $357 million) selling assets amid a debt revamp as a prolonged industry slump and low freight rates weigh on earnings.