FASA

The South Korean ocean carrier’s results for the quarter were hindered by continuously falling freight rates and the imbalance of supply and demand.

COSCO Pacific, the port terminal operator arm of Chinese conglomerate COSCO Group, will pay 125.4 million euros ($143 million) for a 35 percent equity interest in the Europe Container Terminals facility at the Maasvlakte I area of the Port of Rotterdam.

Class I railroad Union Pacific and third-party logistics services provider Katoen Natie will set up a new transload service in Dallas for plastic pellet producers to export overseas.

The temperature-controlled air cargo container manufacturer opened a new service station in Delhi, India today.

The $46 million project is expected to reduce congestion on a highway used extensively by port truckers.

Christian Blauert has been appointed the new chief executive officer of Yilport Holding, effective June 1, 2016.

Ocean carriers Maersk Line, CMA CGM, Hapag-Lloyd and MOL issued general rate increases on multiple trades.

The Port of Long Beach saw container volumes tumble 22.1 percent year-over-year in April, as a soft retail environment hindered imports, while weak economic conditions overseas and the strong U.S. dollar set back exports.

The U.S. Federal Maritime Commission has received 20 ocean transportation intermediary license applications and changes for review.