The United States Maritime Alliance, the employer group that negotiates the master contract with the International Longshoremen's Association, called the ILA’s planned work stoppage threat “disturbing.”
The terminal operator increased spending from $70 million to $200 million in preparation for ultra large containerships.
Matson President and CEO Matt Cox said the Honolulu-based shipping company had “exceptional” results for the full year of 2015, while fourth quarter 2016 results were hindered by the increase in bunker fuel prices from mid-November through December.
Registration takes less than 1 minute.
The Spanish government will face strikes at all ports across the country later this month, according to International Transport Workers’ Federation (ITF) Maritime Operations Coordinator Jacqueline Smith.
The South Korean shipbuilder recorded a net profit of 682.3 billion South Korean won for 2016, up from a loss of 1.36 trillion won for 2015.
Federal Maritime Commissioner Rebecca Dye said the reduction from four to three major container shipping alliances should decrease rates on the transpacific trade, but the decline could be offset by upward rate pressure due to expected mergers.