The international oil shipping services provider, which paid Bretta Tanker Holdings $15.1 million in the second quarter of 2016, saw profits for the first half of 2016 slip 11.3 percent year-over-year to $153.7 million.
The Port of New York and New Jersey, which experienced the second busiest June ever for box volumes, was called by a 10,077-TEU containership at the GCT Bayonne Terminal.
The U.S. gross domestic product increased 1.2 percent in the second quarter 2016, according to the “advance” estimate from the Department of Commerce, following a revised increase of just 0.8 percent in the first quarter.
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The Ocean Carrier Equipment Management Association said that a key benefit of the terminal weighing approach is that shippers will not be required to perform any additional actions in order to provide the verified gross mass of containers.
Ocean carrier Hyundai Merchant Marine, which has been struggling to turn a profit in recent years, signed a memorandum of understanding with 2M Alliance members Maersk Line and MSC to join their major east-west vessel sharing agreement.
The deal will see Qatar Holding and The Public Investment Fund of the Kingdom of Saudi Arabia, majority shareholders of UASC, take 14 percent and 10 percent shares of the combined company, respectively.