The ocean carrier’s revenue declined to $3.5 billion ($3.3 billion excluding the contribution from NOL) from the $4.1 billion in the second quarter of 2015 as the persistent pressure on freight rates drove down average revenue per TEU.

Despite the recent increase in rates on major east-west trade lanes, the container shipping industry “remains mired in troubled waters,” according to the ocean freight rate benchmarking and market intelligence provider.

Members of California’s congressional delegation asked the federal government to get involved in the Hanjin insolvency, and Rep. Loretta Sanchez said Hanjin’s stranded ships may have goods needed to keep U.S. assembly lines running.

Shipping demand for air transport grew more than 5 percent in July after months of flat to tepid growth.

The Wilhelmsen and Wallenius companies that have jointly owned Wallenius Wilhelmsen Logistics since 1999 created a new ownership structure designed to enhance management efficiency and enable better cooperation between their affiliates.

French ocean carrier CMA CGM, Hapag-Lloyd of Germany and Hong Kong’s OOCL issued general rate increases.

A hearing will be held Tuesday in a U.S. bankruptcy court in Newark, N.J. to consider the South Korean ocean carrier’s request to have its rehabilitation proceeding in bankruptcy court in Korea recognized under Chapter 15 of the U.S. bankruptcy code.

The U.S. International Trade Commission has approved antidumping duties be imposed on imports of cold-rolled flat steel products from Brazil, India, South Korea and the United Kingdom.

The U.S. Federal Maritime Commission has received 11 ocean transportation intermediary license applications and changes for review.

The Halifax Port Authority appoints chairman and vice chairman, while Volga-Dnepr names head of energy and heavy machinery.