oceans

Business

US Agency Approves Ocean Alliance Service

Jochen Eckel/Bloomberg News

The Federal Maritime Commission has approved the formation of the Ocean Alliance, a group of four of the largest ocean carriers that intend to begin a new service arrangement in April.

Transport Topics
October 24, 2016
Business

NTSB Releases Haunting Video of El Faro Wreckage on Ocean Floor

NTSB

The first video footage of the wreckage from the El Faro, the containership that was carrying four crewmen from Maine when it sank during a hurricane in the Bahamas last October, was released Jan. 3 by the National Transportation Safety Board.

Dennis Hoey | Portland (Maine) Press Herald
January 6, 2016
Business, Logistics

Three Ocean Carriers Plan New Alliance

Jason Alden/Bloomberg News

France’s CMA CGM, the world’s third-largest container shipping company, has signed an equipment sharing alliance with China Shipping Container Line and United Arab Shipping as carriers continue to seek new partners.

Transport Topics
September 9, 2014
Business

Hapag-Lloyd, CSAV Sign Merger Agreement

Patrick T. Fallon/Bloomberg News

Germany-based ocean carrier Hapag-Lloyd said it has signed a binding agreement to merge with Chilean counterpart Cia. Sud Americana de Vapores to form the world’s fourth-largest container shipping company.

Transport Topics
April 18, 2014
Business, Logistics

Ocean Shipper Horizon Lines Reports 4Q Loss

Susan Goldman/Bloomberg News

Ocean shipper Horizon Lines reported a fourth-quarter loss of $14 million, or 36 cents a share, compared with a loss of $17.9 million, or 52 cents, a year earlier.

Transport Topics
March 21, 2014
Business

Shipping Firm Makes Monthly Calls at S.C. Port

Liberty Global Logistics, an American-flag ocean carrier, is now making regular monthly calls at the Port of Charleston’s Veterans Terminal.

Michele Fuetsch | Staff Reporter
October 8, 2010
Business

Barge Line Raising Funds to Expand Mexico Service

SeaBridge Freight Corp., which moves containers by barge from the U.S.-Mexico border to Florida, is expanding via an unusual route — a “reverse merger” and an injection of federal funds to double its current one-barge operation and add heavy-weight container capacity.

October 4, 2010
Business, Logistics

Cargo Owners Can’t Recoup Full Damages if Freight Originated Overseas, Court Rules

The owners of cargo originating overseas and damaged while traveling to a U.S. destination by rail or truck under a single bill of lading cannot seek full reimbursement of their losses, the U.S. Supreme Court has ruled.

July 5, 2010