The Canadian port will spend $16 million to relocate a maintenance building and construct a warehouse off the wharf to accommodate the expansion of the Fairview Container Terminal.
The Japanese liner carrier established a cargo-handling joint venture in Mumbai, India that will initially handle car carriers, but will eventually include other types of vessels.
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Turkish port operator Yilport Holding secured a 50-year concession to develop Puerto Bolívar Port and committed to invest $750 million in the Ecuadorian port.
C.C. Tung, chairman of OOIL, said the industry faced difficult market conditions in the first half of 2016, and the second half of the year will be difficult if deployed capacity continues to substantially exceed demand.
Officials at the Port of Virginia said they can expand barge service to help liner carriers streamline port networks, but the Port of Baltimore said it has advantages that appeal to carriers and shippers.