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 investment bank’s transportation services research team projects higher earnings per share for several of the North American Class I railways, but stock prices have gone up to reflect a less dour industry outlook.
Commercial practices for certifying the weight of ocean containers can be developed in a straight forward way, with few exceptions, according to officials from trade groups that bear ultimate responsibility for enforcement of the IMO rule.
Meanwhile, a global survey from the London-based Federation of National Associations of Ship Brokers and Agents finds many countries have failed to take action at national level to ensure the IMO container weight requirement can be met.