FASA

Federal Maritime Commission Chairman Mario Cordero sees the public comment and investigation period as an opportunity to create efficiencies and reduce costs within the ocean liner industry.

The world’s biggest container line downgraded its profit expectations for 2015 by 27 percent Friday, saying the market won’t recover this year from weaker demand and deteriorating rates.

The French ocean carrier adjusted the frequency of its EURAF5 loop between North Europe, the Mediterranean and West Africa from weekly to fortnightly.

The container line posted a 32 percent dive in Asia-Europe revenues in third quarter 2015, with revenues in the trade down more than 21 percent for the first nine months of the year.

Meanwhile, the Navy tug bringing equipment to locate the wreck of the cargo ship at the bottom of the Atlantic ocean will take longer than expected to arrive at El Faro’s last known position because of bad weather in the area.

The industrial and logistics real estate specialist saw net earnings grow over 90 percent and revenues up nearly 40 percent, respectively, compared to the third quarter of 2014, according to the company’s most recent financial statements.

The South Atlantic port reported its seventh consecutive month of record container cargo volumes in September, according to the latest figures from the Georgia Ports Authority.

Terminal company GCT USA will complete the final design and build the new ExpressRail Port Jersey facility in Greenville Yard.

The roll-on/roll-off cargo specialist offers liner service to and from the Mediterranean, Africa and the Americas via Grimaldi’s network, which includes Atlantic Container Lines.

Potential tenants have indicated that a long-term lease commitment at Terminal 5 would require the ability to handle more than 1 million TEUs, according to the Northwest Seaport Alliance of the ports of Seattle and Tacoma.