United States GDP grew slightly more than initially expected in the first quarter of 2016, and durable goods orders ticked up in April, according to the most recent data from the Department of Commerce.
Meanwhile, the struggling South Korean ocean carrier said in a statement Sunday it expects to reach an agreement with ship owners regarding charter rate renegotiations “soon.”
The French ocean carrier reported it will pay 1.3 Singapore dollars (U.S. $0.94) for the Neptune Orient Lines' shares it does not already own, control or has agreed to acquire.
Registration takes less than 1 minute.
However, the International Maritime Organization's Maritime Safety Committee said there should be no delay in the implementation of the verified gross mass rule.
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.
The Shanghai Containerized Freight Index rose 9.8 percent since last week to a reading of 577.81, as rates from Shanghai to both Northwest Europe and the Mediterranean jumped 36.6 percent and 21.8 percent, respectively.