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 National Transportation Safety Board hopes to recover the voyage data recorder and use it in the agency's investigation into why the TOTE Maritime general cargo vessel sank last fall, claiming the lives of 33 crew members on board.
Meanwhile, the European Commission Competition Directorate has set a “provisional deadline” for a decision on CMA CGM's purchase of APL parent Neptune Orient Lines for this Friday, April 29.
Premium Transportation Services, which does business as Total Transportation Service Inc., cited industry, political and legal headwinds as reasons it filed for federal bankruptcy protection in Delaware on Monday.