The ocean carrier alliance will skip the Oct. 11 voyage on its North Pacific 3 (NP3) service between Asia and the Pacific Northwest in response to “expected low demand in October,” member OOCL said in a statement.
The U.S. Department of Agriculture said the nation's agricultural trade surplus is also expected to increase to $19.5 billion, up 40 percent from $13.9 billion in fiscal year 2016.
The Houston, Texas-based third-party logistics provider moved into a new 34,000-square-foot warehouse and office complex adjacent to the London Heathrow Airport in an effort to enhance its UK market presence.
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Ocean carriers MOL, NYK and “K” Line all reported losses in their container segments and lower revenues year-over-year for the first fiscal quarter, which ended June 30.
The expanded Panama Canal locks, which just opened June 26 to handle vessels up to 14,000 TEUs, are expected to reshape U.S. East Coast port operations.
The Itasca, Ill.-based third-party logistics provider has added a 50,000-square-foot warehouse on the border of Shenzhen in southeastern China, 30 minutes away from the Port of Hong Kong and 45 minutes from Hong Kong International Airport.