The United Kingdom's vote to leave the European Union last week could have implications for the Transatlantic Trade and Investment Partnership between the U.S. and EU, as well as the Trans-Pacific Partnership, according to experts at the Stimson Center.
The struggling South Korean shipping line plans to return 20 containerships and 18 bulk vessels when their charters expire this year and next as the latest step in its cost cutting and restructuring efforts.
A collection of maritime industry groups on Monday released a supplementary set of frequently asked questions to support smooth implementation of the container weight rule scheduled to take effect Friday.
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Recently purchased APL parent Neptune Orient Lines couldn’t cut costs fast enough to compete in an increasingly commoditized market, chief executive Ng Yat Chung said in a surprisingly candid interview with Singapore’s Straits Times.
An American Shipper report released Tuesday found that nearly three-quarters of shippers and forwarders believe they will have containers held when the new verified gross mass mandate kicks in July 1.
Maritime consultancy Drewry found that approximately 80 percent of shippers won’t shift any volume from ocean to air to avoid disruptions caused by the verified gross mass rule scheduled to go into effect July 1.