The South Korean ocean shipping conglomerate is also seeking relief from financial creditors by selling off various assets and stock, as well as issuing $24.4 million in new shares being purchased by Hyundai Group Chairman Hyun Jeong-eun.

The new Ship Data Center is designed to optimize vessel operations by centralizing data collection and analysis of shipboard systems.

United States Coast Guard officials made it clear at a Federal Maritime Commission hearing Thursday in Washington, D.C. the shipping industry will have to comply with International Maritime Organization verified gross mass requirements on July 1.

Maersk Line said in a recent statement it would work with Indian authorities to help improve facilities in Alang, but Patrizia Heidegger, executive director of the NGO Shipbreaking Platform, says the move is cost-driven.

The sluggish export market means the Port of Charleston could see flat growth for the next few months, according to Port Director Jim Newsome.

More than 2.13 million TEUs moved over the U.S. Gulf Coast port’s docks in 2015, up from just under 2 million TEUs in 2014, and new facilities and infrastructure expansion are expected to support additional growth.

The inland river port experienced a 23.8 percent month-over-month drop in barge tonnage to 112,594 tons in January.

Chief Financial Officer of the Jacksonville, Fla.-based railway Frank Lonegro told the Barclays Industrial Select Conference in Miami the company expects a further 20 percent decline in coal volumes in 2016.

An unnamed third party has filed an appeal with the Conselho Administrativo de Defesa Econômica regarding the regulatory body’s approval of a tie-up between FedEx Corp. and TNT Express, according to a joint statement from the companies.