Container transport revenues at the Danish shipping conglomerate fell 20 percent year-over-year for the quarter due to a 26 percent decline in average freight rates.
The troubled South Korean ocean carrier received approval from seven lenders to restructure debts and will now turn its focus to restructuring ship chartering agreements.
SSA Marine's Oakland International Container Terminal, which has operated nights and Saturdays for two months to ease pressure on busy weekday cargo operations, will stay open three nights a week in a during a four-week trial.
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The Swiss-based third-party logistics provider broke ground on a multi-purpose logistics center in Contern, Luxembourg.
Federal Maritime Commission Mario Cordero said Wednesday the agency has not yet received a formal filing by the container carriers that plan to establish the new OCEAN Alliance.
NYK's Bill Ferguson told the Critical Commodities Conference this week that carriers must refuse loading to a container without Verified Gross Mass data submitted or risk insurance issues.