United States GDP grew slightly more than initially expected in the first quarter of 2016, and durable goods orders ticked up in April, according to the most recent data from the Department of Commerce.
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 French ocean carrier reported it will pay 1.3 Singapore dollars (U.S. $0.94) for the Neptune Orient Line shares it does not already own, control or has agreed to acquire.
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Federal Maritime Commissioner William P. Doyle praised the statement from ocean carrier group OCEMA, but noted officials "still need to address an important liability issue for the shippers" in order to implement new verified gross mass requirements.
Maritime consultancy Drewry found that approximately 80 percent of shippers won’t shift any volume from ocean to air to avoid disruptions caused by the verified gross mass rule scheduled to go into effect July 1.
Terminal operator Ports America says it will accept containers without the required container weight data and, if necessary, allow boxes to be weighed afterwards for compliance with the International Maritime Organization's new verified gross mass rule.