The Port of Houston authority announced its new policy on container weights, as well as container throughput for the the first quarter and developments with ongoing infrastructure improvement projects.
Overall revenues for NYK, MOL and "K" Line fell 5.4 percent, 6 percent and 8.1 percent, respectively, for the last fiscal year ended March 31, 2016.
The Atlanta, Ga.-based parcel giant posted a net income of $1.1 billion for the first quarter of 2016 on revenues of $14.4 billion, year-over-year increases of 10.2 percent and 3.2 percent, respectively.
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Keith Andrey, VP of global freight forwarding for UPS, says carriers are also more interested in offering intermodal pricing this year in order to secure cargo volumes in a historically low rate environment.
A televised broadcast of the first ship to transit the widened Central America waterway will follow testing of new locks earlier in the month.
The South Korean ocean carrier said it will work with lenders to restructure debt after years of weak demand resulted in losses and cash erosion.