The German ocean carrier said its merger with UASC will create the world's fifth largest container carrier and secure the large ships it needs for the Far East-Europe trade.
The Government Accountability Office has denied a competitor's protest that the U.S. Transportation Command improperly awarded a contract to operate a major military port.
The port terminal operator division of China COSCO Shipping Corp. posted net profits attributable to equity shareholders of the company of $171.9 million on revenues of $275 million, year-over-year declines of 8.1 percent and 0.6 percent, respectively.
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Gerry Wang, chief executive officer of Seaspan, expressed how he believes the industry will gradually improve if scrapping remains high and new ship orders remain low.
The Port of Long Beach Harbor Commission on Monday authorized a voluntary framework program that will disburse $46.4 million in local neighborhoods over the next dozen years or more to reduce the impact of port-related pollution.