Carriers invoke Force Majeure as ships begin to pile up off East and Gulf coasts
NewsContainer shipping companies, including CMA CGM, Ocean Network Express (ONE), and COSCO, are invoking force majeure due to the impacts of ongoing ILA strike.
Losses loom large for shipping lines
The first half of 2016 was a torrid period for liner shipping companies, as slower than expected cargo flows and increasing levels of overcapacity on most trade lanes, including previously relatively bullish markets, such as within Asia, depressed freight rates.
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