The Canada-EU Comprehensive Economic and Trade Agreement (CETA) goes into provisional effect Thursday, immediately removing tariffs on 98 percent of goods traded between the European Union and Canada.

The volatile Asia-East Coast South America trade, which is one of the longest and costliest routes to service, saw spot container rates fall from $3,800 per TEU to $2,200 per TEU in just 11 weeks, according to SeaIntel Maritime Analysis.

The port has approved a public-private partnership agreement that involves the expansion of Big Bend Channel, as well as the use of a portion of $4.2 million in Florida Seaports Transportation and Economic Development Council funds for berth upgrades.

The latest news that ocean carrier Mediterranean Shipping Co. (MSC) will sign contracts for as many as 11 newbuild ultra-large containerships comes on the heels of rival CMA CGM confirming an order for up to nine containerships of 22,000 TEUs.

A.P. Moller-Maersk has made another move to free up resources in order to focus future growth on container shipping, ports and logistics by signing an agreement Wednesday to sell Maersk Tankers to APMH Invest, a subsidiary of A.P. Moller Holding.