The German ocean carrier said its merger with UASC will create the world's fifth largest container carrier and secure the large ships it needs for the Far East-Europe trade.
The Government Accountability Office has denied a competitor's protest that the U.S. Transportation Command improperly awarded a contract to operate a major military port.
The port terminal operator division of China COSCO Shipping Corp. posted net profits attributable to equity shareholders of the company of $171.9 million on revenues of $275 million, year-over-year declines of 8.1 percent and 0.6 percent, respectively.
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Captain John Loftus, who was fired in 2013 after working for Horizon Line for 20 years, has been awarded $655,000 in back wages, $225,000 in punitive damages, $10,000 for emotional distress, and more than $200,000 in legal costs.
The Advanced Air Cargo Screening pilot program has been analyzing pre-departure shipment data from voluntary participants for over five years, but U.S. Customs said it wants to iron out details before promulgating a rule for the entire air cargo industry.
The supply chain software provider has been the rumored target of industrial conglomerate Honeywell, but instead gets additional capital from Blackstone and majority owner New Mountain Capital.