The freight visibility software provider said it will be aggressively pursuing plans through 2017 to introduce support for additional modes of transportation.
Drewry's investment arm said the Taiwanese government will need to support Yang Ming, but Bronson Hsieh, chairman of the shipping company, said a merger is not an option.
Hunter Harrison, retiring president and CEO of the Calgary-based Class I railway, has apparently decided to cut his remaining time with the company short, and may be eyeing U.S. railroad CSX as his next move.
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A merger of Yang Ming, which is 33 percent owned by the government, with a private company such as Evergreen Line, would be difficult to achieve, contends Chen Ou-po, a member of Taiwan’s ruling Democratic Progressive Party.
Shipment volumes in October 2016 grew 0.9 percent from the previous month and 2.7 percent compared with the same 2015 period, the first year-over-year increase in 20 months, according to the latest Cass Freight Index Report.
South Korean ocean carrier Hyundai Merchant Marine is backing out of a joint bid with MSC for Hanjin’s 54 percent stake in the largest container terminal at the Port of Long Beach, according to a report from the Wall Street Journal.