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The German ocean carrier estimated last year's merger with Chile's CSAV will bring $400 million in synergy savings, $100 million more than originally estimated.
The member carriers of the Ocean3 Alliance have increased westbound transit times between the United States and China by one week on their Pearl River Express and AAC/Bohai loop, according to BlueWater Reporting.
Brent crude dropped to $48.45 a barrel Tuesday, while WTI, the primary benchmark for U.S. oil prices, fell to $41.55 a barrel, according to investment advisory Seeking Alpha.
The U.S. Maritime Administration is trying to find maritime applications for zero emission hydrogen fuel cells, which have the potential to provide cleaner air and reduce costs for shippers.
The group reported a 66.7 percent increase in net profits to $156 million on revenues of $4.2 billion for the second quarter.
A deal for GE Capital Rail Services, which has assets valued at over $4 billion, could come by Labor Day, according to initial reports from Bloomberg Business.