U.S. gross domestic product increased 2.9 percent in the third quarter of 2016, according to the “advance” estimate from the Department of Commerce, following a revised increase of 1.4 percent in the second quarter.
In addition to the six 13,010-TEU Hanjin Shipping vessels to be chartered to Maersk Line, a group led by HSH Nordbank could also acquire another three ships and lease them out to Maersk’s 2M Alliance partner MSC, according to multiple media reports.
The truckload transportation and logistics services provider reported a net income of $23.4 million on $280.5 million in revenues in the third quarter of 2016, year-over-year decreases of 22.9 percent and 6.5 percent, respectively.
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The South Korean carrier said certain providers have been charging its customers more than what it would have charged to transport cargo and has tried to intervene, taking its concern up with the Federal Maritime Commission.
Investments in new projects are slowing, and Neil Davidson, senior analyst in Drewry’s ports and terminals practice, warned that a sudden rebound in demand could be a problem.
The Massachusetts Port Authority said the Conley Terminal will be upgraded with an additional berth and three new cranes, while the Boston Harbor will be dredged to accommodate 12,000-TEU vessels.