United States GDP grew slightly more than initially expected in the first quarter of 2016, and durable goods orders ticked up in April, according to the most recent data from the Department of Commerce.
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 French ocean carrier reported it will pay 1.3 Singapore dollars (U.S. $0.94) for the Neptune Orient Line shares it does not already own, control or has agreed to acquire.
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Agriculture shippers ask Senate for help with overcoming “significant challenges” in ocean shipping that could hurt the American economy.
Annual costs at container lines have increased a combined $500 million due to new sulfur emissions rules requiring vessels to use more expensive fuel, according to a report released last week by the Organisation for Economic Co-operation and Development.
There isn't enough time before the first report on port performance is due for the Bureau of Transportation Statistics to develop new ways of measuring cargo fluidity and capture the data, according to Deputy Director Rolf Schmitt.