Small Malaysian container line and regional feeder operator PDZ released its full-year results, and once again the destructive impact of weak freight rates was evident in the financials despite the line posting a pre-tax profit.
Zim Integrated Shipping Services entered the final stages of a debt restructuring programme after posting a mixed set of first quarter results where the carrier managed to reduce the size of its loss despite falling revenue.
Cosco Container Lines (Coscon) is placing an order for five 14,000 TEU vessels as it continues with an aggressive tonnage scrapping programme to revitalise both its fleet and its flagging profits.
North American vehicle production is on the rise amid strong demand for vehicles in the NAFTA countries and foreign markets.
Members of the International Longshore and Warehouse Union ratified a new collective bargaining agreement with grain handlers in the Pacific Northwest, ending a two-year battle between the two parties.
Chilean container line CSAV cut back its losses in the second quarter, losing $58.5 million ahead of its merger with German carrier Hapag-Lloyd.
The Clementine Maersk will skip the port of Vancouver, British Columbia, in its current rotation, citing congestion and “significant” delays following the CMA CGM Attila’s striking of the dock two days ago. The Maersk Line vessel will shift cargo bound for the Canadian gateway to the CMA CGM La Scala.
Rickmers Group said “strained” markets, currency exchange and weak charter rates contributed to revenue and profit declines in the first half of 2014, and that conditions will remain difficult through the rest of the year.
NYK Line in May took delivery of the first post-Panamax car carrier built in Japan. Dubbed the Aries Leader, the new pure car carrier not only boasts a capacity of 7,000 vehicle units, but also a wide range of energy-saving technologies not found on other such vessels.
At least two ocean carriers are cutting intermodal fuel surcharges for dry and refrigerated shipments to and from the United States, effective Oct. 1, as a result of falling diesel prices.