Crude oil prices have risen about 60 percent from a 2016 low, but the risk that prices will again fall is forcing Maersk’s oil unit to explore bigger cost cuts than previously planned, according to group CEO Nils Smedegaard Andersen.
Maersk and UASC have both signed agreements to work with Qatar Liquefied Gas Co. and Royal Dutch Shell Plc to develop liquid natural gas as a maritime fuel.
Combined United States carload and intermodal cargo volumes fell 11.8 percent in April compared with April 2015 and 7.8 percent for the first four months of 2016, according to data from the Association of American Railroads.
Registration takes less than 1 minute.
The proposed alliance would become a dominant player in the three major east-west trades, beating out total capacity currently offered by the 2M Alliance on those trade lanes, according to an analysis from BlueWater Reporting.
House lawmakers brushed aside calls at a hearing to slow implementation of the Verified Gross Mass rule, while other shippers said compliance should be straightforward.
Federal Maritime Commission Mario Cordero said Wednesday the agency has not yet received a formal filing by the container carriers that plan to establish the new OCEAN Alliance.