The new warehouse is the first facility in Vietnam to provide a super frozen storage room, which reaches as cold at -58 degrees Fahrenheit.
Meanwhile, just this Friday, the Shanghai Shipping Exchange said its Shanghai Containerized Freight Index declined 6.2 percent from last Friday’s reading of 670.29 to a reading of 628.59.
William E. (Bill) Woodhour became president of Maersk Line, Ltd. (MLL) July 1 and will eventually become chief executive officer of the company, taking over from Russ Bruner, who has been president and CEO of MLL since 2014.
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About 450,000 TEUs of capacity is expected to be scrapped in 2016, which would be double the amount scrapped in 2015, according to the London-based shipping consultant Drewry.
The freight transportation analyst said its Shippers Conditions Index is at its highest sustained level since 2011, but conditions for shippers should reverse in 2017, as fuel prices increase and regulatory drag tightens capacity.
The United States exported 794,537 net tons of steel in April, a 2.5 percent increase from March, but a year-over-year drop of nearly 6 percent.