The Panama Canal Authority said it is confident in the process it uses to move ships through the new locks at the canal, following an accident last week that damaged the Xin Fei Zhou after it made contact with one of the walls at the Agua Clara Locks.
Ocean carrier MSC has started investing in TRAXENS, a French start-up that produces technology for ocean container tracking.
Although activity increased from the first quarter, total deal volume and value in the transportation and logistics sector was still down 18 percent and 22 percent year-over-year, respectively, according to a new report from PricewaterhouseCoopers.
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Ocean carrier Hyundai Merchant Marine joining the 2M Alliance - comprised of Maersk Line and MSC - has fueled speculation about Maersk’s ultimate motives, but the short term impact is a larger share on the transpacific trade, especially from Korea.
German ocean carrier Hapag-Lloyd reached an agreement with United Arab Shipping Company on a merger that would make Hapag-Lloyd the fifth largest container carrier in the world.
After a weak first quarter in 2016, east-west capacity rebounded slightly in advance of the traditional summer peak season, but overcapacity, decreased volumes and low rates continued to drive carriers into the ever-changing alliance game.