The international oil shipping services provider, which paid Bretta Tanker Holdings $15.1 million in the second quarter of 2016, saw profits for the first half of 2016 slip 11.3 percent year-over-year to $153.7 million.
The Port of New York and New Jersey, which experienced the second busiest June ever for box volumes, was called by a 10,077-TEU containership at the GCT Bayonne Terminal.
The U.S. gross domestic product increased 1.2 percent in the second quarter of 2016, according to the “advance” estimate from the Department of Commerce, following a revised increase of just 0.8 percent in the first quarter.
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Taiwanese ocean carrier Yang Ming Transport Corp. named former Evergreen Line executive Bronson Hsieh as its new chairman.
Ocean carriers should "embrace the obvious solution" terminal operators can offer to ensure compliance with the International Maritime Organization's new verified gross mass regulations, says Federal Maritime Commission Chairman Mario Cordero.
German ocean carrier Hapag-Lloyd reached an agreement with United Arab Shipping Company on a merger that would make Hapag-Lloyd the fifth largest container carrier in the world.