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In response to weak demand, Maersk has also cancelled options for eight containerships - six 19,630-TEU vessels and two 3,600-TEU feeder ships - and could cancel eight more, according to the Danish shipping conglomerate.
Exports from the second largest economy in the world dropped for the fourth consecutive month, while Chinese imports continued to tumble, dropping nearly 19 percent compared to October 2014.
Neptune Orient Lines, parent of liner company APL, has confirmed it has entered into talks with CMA CGM and Maersk about a potential sale, while COSCO and China Shipping told FMC Commisioner William Doyle they are in the "beginning stages of a merger."
The FAST Act, which provides $253 billion in funding over five years for highway and bridge infrastructure, motor carrier safety, hazmat safety, passenger rail programs and transit, now goes to the House and Senate for a full vote.
With world leaders convening in Paris for global talks on how to slow climate change, the shipping industry says it is doing its part and ocean carriers say more efforts are underway to lower carbon dioxide output from vessels.
Jamaica will use SOGET's port community system to provide a single platform for submission of key logistics and compliance data as the country looks to grow its container volumes after the completion of the Panama Canal expansion.