Citing the ongoing economic slowdown in China and waning U.S. imports, the World Trade Organization on Tuesday slashed its 2016 global trade forecast to 1.7 percent from a previous projection of 2.7 percent growth this year.
For the port’s 2016 fiscal year, the Paul W. Conley Container Terminal handled 247,329 TEUs, a 12 percent increase from the 2015 fiscal year.
Under an expanded capacity sharing agreement, Finnair Cargo and IAG Cargo will launch three additional A350 flights per week between their respective hubs at Helsinki Airport in Finland and London Heathrow Airport in the United Kingdom.
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APM Terminals appointed A.P. Moller Shipping Services Chief Executive Morten Engelstoft to succeed current CEO Kim Fejfer, who will be taking up a new role at APM Holding A/S, according to a statement from the company.
The now insolvent South Korean ocean carrier released a status update Monday on the 97 vessels it operates, which illustrated that 59 of these vessels are still waiting in open sea.
A spokesperson from Hanjin told American Shipper Monday that 28 of the ships it operates have completed cargo unloading.