United States gross domestic product increased 1.2 percent in second quarter 2016, according to the “advance” estimate from the Department of Commerce, following a revised increase of just 0.8 percent in the first quarter.
Rates from Shanghai to Northwest Europe, which hold a 20 percent weight on the overall index, skyrocketed 57.8 percent since last week, from $713 per TEU to $1,125 per TEU.
The Dubai-based port terminal operator signed a 30-year lease with Port Saint John on the East Coast of Canada to operate its West Side Container Terminal, DP World and port officials said in a joint statement Thursday.
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Ocean carrier Hyundai Merchant Marine joining the 2M Alliance - comprised of Maersk Line and MSC - has fueled speculation about Maersk’s ultimate motives, but the short term impact is a larger share on the transpacific trade, especially from Korea.
The MOL Benefactor has worked its way down the East Coast to Savannah after taking advantage of the wider Panama Canal to transport cargo from Asia.
Ocean carrier Hyundai Merchant Marine, which has been struggling to turn a profit in recent years, signed a memorandum of understanding with 2M Alliance members Maersk Line and MSC to join their major east-west vessel sharing agreement.