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.”
The French ocean carrier reported it will pay 1.3 Singapore dollars (U.S. $0.94) for the Neptune Orient Line shares it does not already own, control or has agreed to acquire.
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The French ocean carrier transported 2.9 percent more containers, but saw the average freight rate tumble 17.6 percent when compared to the first quarter of 2015.
The ocean carrier attributed the reduction in its carbon dioxide emissions primarily to improvements in operational efficiency, fleet and voyage optimization, technical improvements, as well as more fuel-efficient and environmentally-friendly vessels.
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.