The Panama Canal Authority said it is confident in the process it uses to move ships through the new locks at the canal, following an accident last week that damaged the Xin Fei Zhou after it made contact with one of the walls at the Agua Clara Locks.
Ocean carrier MSC has started investing in TRAXENS, a French start-up that produces technology for ocean container tracking.
Although activity increased from the first quarter, total deal volume and value in the transportation and logistics sector was still down 18 percent and 22 percent year-over-year, respectively, according to a new report from PricewaterhouseCoopers.
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The collision in northern Texas left one injured and three missing Tuesday morning.
With spot rates at historic lows, carriers "can ill-afford to flood the market with excess capacity,” the London-based maritime consulting firm said in the latest issue of Container Insight Weekly.
Ocean procurement software provider Xeneta reported freight rates may further decline as carriers seek to fill larger ships that are now capable of transiting the expanded Panama Canal.