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 chairman of the Senate Permanent Subcommittee on Investigations is seeking answers to why the Army Corps of Engineers’ budget to dredge the Cuyahoga River Ship Channel for the Port of Cleveland was cut by more than a third.
The United States imported 2.21 million net tons of steel in February, 16.5 percent less than January and 38.3 percent less year-over-year.
South Korean steelmaker POSCO this spring plans to start building a $19 million wire rod processing plant at the Port of Indiana-Jeffersonville.