In segments described as liner or containership operations, NYK, MOL and “K” Line reported a combined loss of 77 billion yen (U.S. $691 million) for the fiscal year ending March 31, 2017, resulting from historically low freight rates.
United States gross domestic product increased just 0.7 percent in the first quarter of 2017, down from from a 2.1 percent growth rate the previous quarter and the slowest in three years, according to the “advance” estimate from the Department of Commerce.
The Hong Kong-based ocean carrier's container volumes increased 7 percent year-over-year, while revenues rose 6.4 percent from the corresponding 2016 period.
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The Prevent Labor Union Slowdowns (PLUS Act), S.702, is sponsored by Senators Jim Risch, R-Idaho; Mike Crapo, R-Idaho; and David Perdue, R-Ga.
In addition to bad weather conditions, rampant overbooking by carriers in the wake of newly restructured vessel sharing alliances is at the root of the delays, according to Nicolas Vittori, overseas network manager at France-based Setcargo.
The 13,800-TEU MSC Daniela was brought to anchor near the Colombo Lighthouse after containers on board burst into flames late last night about 120 nautical miles off the coast of Sri Lanka.