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Meanwhile, lane outages in the existing locks for maintenance could reduce available capacity for vessel traffic by up to 50 percent through the end of the month, according to maritime support services provider Gulf Agency Co.
The Georgia Ports Authority board approved expenditures of up to $12.6 million for the third phase of Savannah's yard crane electrification and a project to refurbish the concrete wharf at the Port of Brunswick's Mayor's Point Terminal at a meeting Monday.
The U.S. Government Accountability Office said in a report issued Friday CPFA requirements have increased the overall cost of shipping food aid by an average of 23 percent from April 2011 through fiscal year 2014.
The U.S. Coast Guard and ship operator TOTE Maritime have scheduled press conferences for this afternoon to announce any new information on last week's disappearance of the Florida-Puerto Rico cargo vessel.
Investment bank Stifel Nicolaus upgraded its rating of FedEx Corp.’s stock to “buy” Monday, causing share value on Tuesday to increase over 1 percent from the previous day’s closing price.
The Japanese ocean liner carriers and three executives at the companies allegedly conspired to fixed prices on roll-on/roll-off cargo, according to the U.S. Department of Justice.