Container transport revenues at the Danish shipping conglomerate fell 20 percent year-over-year for the quarter due to a 26 percent decline in average freight rates.
The troubled South Korean ocean carrier received approval from seven lenders to restructure debts and will now turn its focus to restructuring ship chartering agreements.
SSA Marine's Oakland International Container Terminal, which has operated nights and Saturdays for two months to ease pressure on busy weekday cargo operations, will stay open three nights a week in a during a four-week trial.
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The proposed alliance would become a dominant player in the three major east-west trades, beating out total capacity currently offered by the 2M Alliance on those trade lanes, according to an analysis from BlueWater Reporting.
Swiss-based freight forwarding giant Kuehne + Nagel has appointed Bob Mihok president of its North American region.
Canadian Pacific Railway has terminated efforts to acquire the number four U.S. railroad, including the withdrawal of a resolution asking NS shareholders to urge its board to engage in negotiations, according to a statement from the company.