Although exports from Japan in September fell 6.9 percent from a year prior to 5.97 trillion yen, the decline was not as sharp as analysts had projected.
The Federal Maritime Commission said Friday it concluded its review of the proposed OCEAN Alliance, allowing the new ocean carrier alliance to take effect Monday, although it is not expected to commence operations until around April 2017.
PierPass, whose members consist of the 13 container terminals at the ports of Los Angeles and Long Beach, held a workshop last Thursday to evaluate extended gate options.
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Patrik Berglund, chief executive officer of Oslo-based ocean freight rate intelligence platform Xeneta, said Hanjin Shipping’s insolvency has “turned the market on its head,” but the real question is “how long will this last?”
Peak season capacity took a major hit in third quarter 2016 as carriers scrambled to replace services interrupted by Hanjin Shipping’s Aug. 31 bankruptcy announcement.
The Danish conglomerate said one division will focus on transport and logistics, while the other division will focus on energy.