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The builders of the new locks will reinforce the sills in all the locks, even where no leaks observed, and still expect to meet their April 2016 deadline, according to a statement from the Panama Canal Authority.
After the seasonal suspension of the alliance's transpacific CC2 service, G6-operated loops from Asia to the West Coast of North America will deploy 7 percent less capacity in the trade.
Spot container rates on major trades between Asia and Europe and the United States as measured by the Shanghai Containerized Freight Index fell 7.5 percent from last week to a reading of 622.60.
After completing the long-awaited Trans-Pacific Partnership agreement on Monday, the Obama administration now faces its next challenge: promoting the trade pact to Congress and voters.
Just prior to announcing the board of TNT Express had approved its sale to FedEx, the company issued an investor alert warning shareholders that third quarter 2015 profits would be “materially lower” than in the third quarter of 2014.
A massive influx of refugees fleeing the war in Syria has resulted in increased wait times at border crossings and reduced volumes for trucking carriers, according to the International Air Cargo Association.