Mohab Mamish, chairman of Egypt’s Suez Canal Authority, told the Wall Street Journal the authority is asking regular users of the canal to pay for fees as much as five years in advance in return for a 3 percent discount.
The port terminal operator arm of the recently merged China COSCO Shipping saw net profits from continuing operations tumble 37.3 percent to $43.9 million in third quarter 2016 despite a 3.3 percent increase in revenues compared with the previous year.
The U.S. International Trade Commission has determined the domestic industry is harmed by imports of welded stainless steel pressure pipe from India, which Commerce determined is subsidized and sold in the United States at less than fair value.
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Historically low ocean freight rates have caused carriers to implement cost-cutting measures that have reduced reliability, meaning shippers need to be more flexible in how they procure capacity.
The new Copenhagen-based company LinerGrid said it uses advanced mathematical simulations to provide container lines with information in order to make decisions.
Rafi Danieli, chief executive of ZIM, said in an interview with American Shipper that the carrier focuses on specific global trades, where it wants to sail, and where it has an advantage and a big market share.