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.
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House lawmakers brushed aside calls at a hearing to slow implementation of the Verified Gross Mass rule, while other shippers said compliance should be straightforward.
The container terminal industry is facing challenges that include slowing global trade, larger ships, liner industry consolidation and extreme cost pressure, according to Kim Fejfer, chief executive officer of APM Terminals.
Ocean carriers CMA CGM, COSCO, Evergreen Line and OOCL revealed they will form a new alliance next April.