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.
The strong growth was largely due to an increase container trade between the port and Asia, which surged 19 percent year-over-year to 336,791 TEUs.
Scheduled to commence in March 2017, the new direct route between its hub at London Heathrow and New Orleans International Airport will be the first of its kind, the global airfreight carrier said in a statement.
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Sources said the South Korean liner carrier will lay off about 180 members of its 500 person workforce in the United States on Friday.
The United States asked the World Trade Organization to set up a dispute settlement panel to examine and put a final end to China’s export restraints on antimony, chromium, cobalt, copper, graphite, indium, lead, magnesia, talc, tantalum and tin.
Meanwhile, a judge in STX Offshore’s Korean bankruptcy proceedings has ordered the troubled shipbuilder to put its shipyard up for sale along with its profitable cruise ship subsidiary based in France, according to multiple media reports.