Representatives from Chanel Fragrances and Beauté, Ericsson, Sandvik Machining Solutions, Marine Harvest RMT and Teva Pharmaceutical Industries have joined the association’s Shipper Advisory Committee.
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.
Struggling South Korean shipbuilder STX Offshore & Shipbuilding Co. on Friday filed for receivership with the Seoul Central District Court amid mounting debt and continued losses.
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The Water Resources Development Act reauthorization includes provisions sought by the nation's port authorities related to how harbor deepening projects are funded, getting more money for maintenance dredging in the pipeline and authorizing new projects.
Ship owners on Wednesday broke off rate negotiations with struggling South Korean shipping conglomerate Hyundai Merchant Marine without reaching an agreement, according to multiple reports from Korean media outlets.
Federal Maritime Commissioner William P. Doyle praised the statement from ocean carrier group OCEMA, but noted officials "still need to address an important liability issue for the shippers" in order to implement new verified gross mass requirements.