Three previous attempts to list the company – in 2008, 2011 and 2016 – were abandoned.
The congestion appears to be worsening.
Pacific International Lines' traffic in US imports from Asia rose 67 percent year over year in the second quarter.
“The trade is doing much better than previously thought to be the case.”
APM Terminal (APMT) in the Port of New York and New Jersey says it will have mostly recovered from the cyber attack on Maersk by the end of the week.
Asia-Russia-Europe spot rates are up more than double year over year.
A 13,200 TEU vessel that is the largest ever to enter the Port of New York and the US East Coast passed under the newly-elevated Bayonne Bridge Monday afternoon.
The service will link Northern Europe, the US East Coast, Central America, the Pacific islands, Australia, New Zealand, Peru, and the Caribbean on a weekly basis.
The shuttering of many plants for three weeks and more, opposed to the traditional break of one or two weeks, bodes poorly for the country’s third-largest export and its second-largest import.
“The coastal shipping deal will reduce cost as well as time. To us, time is also money.”