COSCO may make a bid of more than $4 billion for Hong Kong-based Orient Overseas Container Line, according to various media reports.
The deployment of ultra-large containerships has not only increased average vessel size on key east west trades, but has accelerated the consolidation of carriers into vessel sharing agreements and alliances.
The container freight market is strengthening as carriers begin some 2017 negotiations, and Drewry said some shippers could see contract rates rise 20-40 percent in worst case scenarios.
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Inna Kuznetsova, president and chief operating officer of INTTRA, explained the reasons behind the company’s rapid growth in a recent interview with American Shipper.
The Port of Long Beach Harbor Commissioners approved the sale of Hanjin Shipping’s 54 percent stake in Total Terminals International to MSC and its sister company Terminal Investment Ltd. Wednesday night by a 3-to-1 vote.
JLL Chief Industrial Economist Walter Kemmsies said many factors are likely to impact the freight movement industry, ranging from macro issues, such as possible trade policy and regulation changes, to specific issues that affect how goods are shipped.