The anti-globalization and anti-trade rhetoric of the U.S. presidential election has become a primary economic threat to emerging countries, according to Bloomberg's Mohamed A. El-Erian .
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.”
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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.
Maritime consultancy Drewry found that approximately 80 percent of shippers won’t shift any volume from ocean to air to avoid disruptions caused by the verified gross mass rule scheduled to go into effect July 1.
Peter Friedmann accused container lines of bungling the International Maritime Organization's new container weight verification requirement, and said some now realize they face high internal costs unless they offer a more flexible approach.