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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House lawmakers brushed aside calls at a hearing to slow implementation of the Verified Gross Mass rule, while other shippers said compliance should be straightforward.
Meanwhile, a global survey from the London-based Federation of National Associations of Ship Brokers and Agents finds many countries have failed to take action at national level to ensure the IMO container weight requirement can be met.
Shippers should think about supplying container weight data to ocean carriers ahead of the July 1 start date if they ship cargo that transfers to a second vessel in another port.