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Meanwhile, lane outages in the existing locks for maintenance could reduce available capacity for vessel traffic by up to 50 percent through the end of the month, according to maritime support services provider Gulf Agency Co.
The U.S. Government Accountability Office said in a report issued Friday CPFA requirements have increased the overall cost of shipping food aid by an average of 23 percent from April 2011 through fiscal year 2014.
The Georgia Ports Authority board approved expenditures of up to $12.6 million for the third phase of Savannah's yard crane electrification and a project to refurbish the concrete wharf at the Port of Brunswick's Mayor's Point Terminal at a meeting Monday.
The Israeli ocean carrier recently returned to the black, posting adjusted net profits of $23 million in the second quarter of 2015 compared with a net loss of $50 million the previous year.
With more tonnage to be delivered next year, London-based shipping consultant Drewry says "the overhang of excess capacity [in the ocean freight industry] will be even greater than that experienced in 2009."
Capacity growth was relatively stagnant across the three major east-west trades in the third quarter of 2015, as slowing global trade and an economic recession in China caused volumes to remain weak even during the summer peak shipping season.