Ocean freight rate benchmarking platform Xeneta said transpacific rates have been gradually rising since April, stripping out the short-term impact of Hanjin Shipping’s insolvency in late August.
The French shipping company, which acquired Neptune Orient Lines and its APL subsidiary earlier this year, is seeking a buyer for the APL container terminals.
The Atlanta, Ga.-based shipping and logistics provider reported year-over-year increases in net income and revenues for the third quarter of 2016 despite pressure from changes in fuel surcharges and currency exchange rates.
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Various media reports have speculated the sale of South Korean liner carrier Hanjin Shipping, viewing COSCO and Maersk Line as possible buyers.
The three-month "light touch" period during which states were urged to adopt a “practical and pragmatic” approach to the International Maritime Organization’s new verified gross mass container weight regulations ended Oct. 1, according to TT Club.
The Oakland International Container Terminal decided to make night gates permanent, financed through a $30 fee on all loaded import and export containers through the port.