Meanwhile, the struggling South Korean ocean carrier said in a statement Sunday it expects to reach an agreement with ship owners regarding charter rate renegotiations “soon.”
The Baltic Exchange, which had revenues of just $8.8 million last year, is more of a market-information service these days, generating indexes so members can work out fair cargo transport prices, according to Bloomberg's David Fickling and Andy Mukherjee.
The U.S. Federal Maritime Commission has received 17 ocean transportation intermediary license applications and changes for review.
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Annual costs at container lines have increased a combined $500 million due to new sulfur emissions rules requiring vessels to use more expensive fuel, according to a report released last week by the Organisation for Economic Co-operation and Development.
The U.S. Coast Guard bulletin regarding compliance with the International Maritime Organization's verified gross mass requirement "seems to allow for more flexibility," says Federal Maritime Commission Chairman Mario Cordero.
The 19 ocean carrier members of the Ocean Carrier Equipment Management Association are collaborating with six U.S. ports to establish a harmonized container weighing process.