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The builders of the new locks will reinforce the sills in all the locks, even where no leaks observed, and still expect to meet their April 2016 deadline, according to a statement from the Panama Canal Authority.
After the seasonal suspension of the alliance's transpacific CC2 service, G6-operated loops from Asia to the West Coast of North America will deploy 7 percent less capacity in the trade.
Spot container rates on major trades between Asia and Europe and the United States as measured by the Shanghai Containerized Freight Index fell 7.5 percent from last week to a reading of 622.60.
TOTE says "While this reflects that the ship was caught in rough seas and extreme weather, it is in no way indicative of the ship’s fate."
Rep. Stephen Fincher, R-Tenn., introduced a bill that would restore Ex-Im Bank’s operations and include various reforms, but will require a "discharge process" to reach the House floor for a vote.
The company’s minority investment in e-commerce specialist Ally Commerce Inc. is more about research than revenues, according to Rimas Kapeskas, head of UPS’s strategic enterprise fund.