Although exports from Japan in September fell 6.9 percent from a year prior to 5.97 trillion yen, the decline was not as sharp as analysts had projected.
The Federal Maritime Commission said Friday it concluded its review of the proposed OCEAN Alliance, allowing the new ocean carrier alliance to take effect Monday, although it is not expected to commence operations until around April 2017.
PierPass, whose members consist of the 13 container terminals at the ports of Los Angeles and Long Beach, held a workshop last Thursday to evaluate extended gate options.
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Following Hanjin Shipping filing for receivership, Hyundai Merchant Marine will start up two new services, one between Korea and the U.S. and one between Korea and Europe.
The shipping industry is being roiled by Hanjin’s decision to file receivership, with spot rates surging, cargo being stranded on vessels, and now lawsuits are being filed by shipowners.
The South Korean ocean carrier filed for recognition of its Korean insolvency proceeding in the United States Friday in the U.S. Bankruptcy Court for the District of New Jersey and the court ordered a hearing on the request for Tuesday.