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.
Geneva-based Mediterranean Shipping Co. has confirmed it is looking to buy the now insolvent South Korean shipping company’s 54 percent stake in the Southern California container terminal.
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Investments in new projects are slowing, and Neil Davidson, senior analyst in Drewry’s ports and terminals practice, warned that a sudden rebound in demand could be a problem.
Peak season capacity took a major hit in third quarter 2016 as carriers scrambled to replace services interrupted by Hanjin Shipping’s Aug. 31 bankruptcy announcement.
The three-month "light touch" period during which states were urged to adopt a “practical and pragmatic” approach to the International Maritime Organization’s new verified gross mass container weight regulations ended Oct. 1, according to TT Club.