The freight transportation analyst said its Shippers Conditions Index is at its highest sustained level since 2011, but conditions for shippers should reverse in 2017, as fuel prices increase and regulatory drag tightens capacity.
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.
Registration takes less than 1 minute.
Pacific Maritime Association President and CEO James McKenna said he expects to hear from International Longshore and Warehouse Union this summer on whether it wants to discuss the extension of the five-year labor contract.
Meanwhile, the struggling South Korean ocean carrier said in a statement Sunday it expects to reach an agreement with ship owners regarding charter rate renegotiations “soon.”
The country's export volumes stabilized in May, with a weakening currency giving some support to growth in the world’s biggest trading nation, while imports signaled improvement in domestic demand.