More for Freeport

The European Commission (EC) has fined several ocean carriers engaged in the transport of finished vehicles and automotive parts and components a total of €546M for anti-competitive practices, including alleged collusion on freight rates.

China Cosco Shipping Corp (CCSC) and Yang Ming Line are the latest carriers to put in place deferral strategies for some of their ships. Their moves follow rising concerns that overcapacity in 2018 could have another negative impact on freight rates and stall the liner shipping industry’s recovery of the past 12 months.

The Port of Virginia has received a US$466,747 grant for equipment to support reefer containers and break bulk on its barge service linking Richmond with its deep sea terminals.

Container volume through the busiest harbour in the US will exceed 16M TEU in 2017.

The dispute in Melbourne goes well beyond issues the Maritime Union of Australia has with ICTSI over conditions at Victoria International Container Terminal (VICT).

Wallenius Wilhelmsen Logistics ASA has signed an agreement to acquire 100% of the shares in Keen Transport, Inc. from Platinum Equity for US$64M