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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Ordering of containerships eased in the fourth quarter of 2015 despite attractive shipyard prices because carriers are running out of profitable trades on which to deploy them, according to London-based shipping consultant Drewry.
The 3rd Circuit U.S. Court of Appeals decision, which relies on a 1866 Supreme Court opinion, is being heralded as a victory for ocean carriers.
Commercial practices for certifying the weight of ocean containers can be developed in a straight forward way, with few exceptions, according to officials from trade groups that bear ultimate responsibility for enforcement of the IMO rule.