The container terminal operator posted a cargo throughout of 15.5 million TEUs at its container terminals in the first quarter of 2016, a 2.4 percent increase from the same 2015 period on a like-for-like basis.
Although activity slowed in the first quarter, total deal value for mergers and acquisitions in the transportation and logistics sector was still up 26 percent compared to first quarter 2015, according to a new report from PricewaterhouseCoopers.
The European Union competition watchdog said a trustee will monitor both companies to ensure there is no information sharing between the Ocean3 and G6 ocean carrier alliances, of which CMA CGM and Neptune Orient Lines subsidiary APL are currently members.
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The South Korean shipping conglomerate is also considering sale of its tanker business as part of its "self-rescue" plan to increase liquidity and improve its finances, according to local media reports.
Canadian Pacific CEO E. Hunter Harrison and activist investor Bill Ackman didn’t expect so much pushback regarding CP’s proposed takeover of Norfolk Southern, but arguably they should have been better prepared, according to Bloomberg’s Brooke Sutherland.
Federal Maritime Commissioner William P. Doyle praised the statement from ocean carrier group OCEMA, but noted officials "still need to address an important liability issue for the shippers" in order to implement new verified gross mass requirements.