The Port of Houston authority announced its new policy on container weights, as well as container throughput for the the first quarter and developments with ongoing infrastructure improvement projects.
Overall revenues for NYK, MOL and "K" Line fell 5.4 percent, 6 percent and 8.1 percent, respectively, for the last fiscal year ended March 31, 2016.
The Atlanta, Ga.-based parcel giant posted a net income of $1.1 billion for the first quarter of 2016 on revenues of $14.4 billion, year-over-year increases of 10.2 percent and 3.2 percent, respectively.
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Ocean carriers CMA CGM, COSCO, Evergreen Line and OOCL revealed they will form a new alliance next April.
Rates fell another 3 percent for the month compared to March of last year, the 15th consecutive month prices have decreased, and analysts with Avondale Partners expect this trend to continue through the rest of 2016.