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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The Northern California seaport saw throughput of loaded import boxes tick up 0.2 percent while laden exports jumped 11.5 percent compared with the same 2015 period, according to recent data from the port authority.
The marine terminal operator said that effective Dec. 6, truckers will be required to make appointments to pick up container imports in order to reduce wait times by more evenly distributing truck arrivals throughout the day.
Accounting firm Samil PricewaterhouseCoopers told the Korean court overseeing the bankruptcy of Hanjin Shipping that liquidating the carrier would be "more economical" than continuing its rehabilitation, Korea's Yonhap News Agency reported.