The international oil shipping services provider, which paid Bretta Tanker Holdings $15.1 million in the second quarter of 2016, saw profits for the first half of 2016 slip 11.3 percent year-over-year to $153.7 million.
The Port of New York and New Jersey, which experienced the second busiest June ever for box volumes, was called by a 10,077-TEU containership at the GCT Bayonne Terminal.
The U.S. gross domestic product increased 1.2 percent in the second quarter of 2016, according to the “advance” estimate from the Department of Commerce, following a revised increase of just 0.8 percent in the first quarter.
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After a weak first quarter in 2016, east-west capacity rebounded slightly in advance of the traditional summer peak season, but overcapacity, decreased volumes and low rates continued to drive carriers into the ever-changing alliance game.
The 10,000-TEU MOL Benefactor, currently serving on the G6 Alliance’s Asia-U.S. East Coast NYX loop, will be the first container vessel to call a USEC port after transiting the newly opened Panama Canal expansion.
Shipment volumes and expenditures both increased compared with the previous month after three months of lackluster performance, but still remained well below 2015 levels, according to the latest Cass Freight Index Report.