The voyage data recorder from the U.S.-flag cargo ship that sank Oct. 1, 2015 near the Bahamas was in good condition and revealed bridge audio, weather data and navigational data.
Commissioner William P. Doyle of the U.S. Federal Maritime Commission voted in favor of requesting additional information from the four shipping companies planning to create the Ocean Alliance.
The South Korean ocean carrier submitted a financial improvement plan to the state-run Korea Development Bank Thursday, but did not reveal details on the plan.
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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.
Logistics costs for businesses in the United States grew in 2015, while spending actually slowed by nearly half from the 5.1 percent compound average rate over the previous four years and was flat relative to the overall economy.
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.