FASA

The new joint venture, which is pending approval, would initially operate 70 bulkers worldwide.

Spot rates declined from Shanghai to Europe, the Mediterranean and the United States since last Friday.

With capacity in the ocean carrier industry continuing to outstrip demand levels, many are left wondering what carrier is next in line for a merger or acquisition.

The London-based shipping research and consulting firm has examined the correlation between carrier terminal ownership and the choice of port calls by the 2M Alliance, and the upcoming alliances in April.

The Doric Warrior, a 93,115-dwt bulk carrier, delivered steel slabs from Tuapse, Russia on the Black Sea to the new Paulsboro Marine Terminal along the Delaware River on Thursday.

Members of the International Longshore and Warehouse Union had failed to report for work to unload a Pasha ship in Hawaii.

The Hong Kong-based ocean carrier will charter a 5,576-TEU vessel from Diana Containerships starting April 8.

The International Maritime Organization’s 0.5 percent sulphur cap regulation, set to go into force in 2020, could cause shipping industry fuel costs to jump by as much as $60 billion annually, according to a recent report from Wood Mackenzie.

Consolidated net profits for the year dropped 40.7 percent to 52.3 million Swiss francs compared with the previous year as tight peak season airfreight capacity and the collapse of South Korean ocean carrier Hanjin Shipping put pressure on margins.

The Shippers’ Advisory Committee said change is needed, and that all sectors of the air cargo supply chain industry must work together to drive the adoption of new technology and greater transparency.