Container transport revenues at the Danish shipping conglomerate fell 20 percent year-over-year for the quarter due to a 26 percent decline in average freight rates.
The troubled South Korean ocean carrier received approval from seven lenders to restructure debts and will now turn its focus to restructuring ship chartering agreements.
SSA Marine's Oakland International Container Terminal, which has operated nights and Saturdays for two months to ease pressure on busy weekday cargo operations, will stay open three nights a week in a during a four-week trial.
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The decision is a reversal of plans announced in March, when the ocean carrier said it would deploy its flagship fleet of six, 18,000-TEU containerships between Asia and the United States West Coast starting in May.
The U.S. Army Corps of Engineers officially opened the Soo Locks, in Sault Ste. Marie, Mich. today at 12:01 a.m., the Great Lakes Seaway Partnership said.
South Korean ocean carrier Hanjin will operate all five of the 4,000-TEU vessels on the China America Express service, which is scheduled to commence in May.