The container lines were fined a total of 2.39 million Chinese yuan renminbi (U.S. $347,212) for failing to record or recording inaccurate data on their freight rates.
The French ocean carrier will buy space on a service between North Europe and the West Coast of North America, as well as on a service between Japan and California.
A spokesperson from Hyundai Merchant Marine (HMM) told American Shipper the loop is expected to commence April 2 from Laem Chabang, operating with seven, 6,800-TEU vessels supplied by HMM.
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COSCO Shipping Ports Ltd. and CMA CGM Terminals Holding signed a worldwide memorandum of understanding to seek cooperation at ports worldwide, with preference being given to ports called by the Ocean Alliance.
With just a few months before the new ocean carrier vessel sharing agreement THE Alliance, of which Yang Ming is a member, is set to launch, work still needs to be done to finalize port rotations and vessel deployment plans.
Michael Pram Rasmussen, chairman of the board of directors of Danish shipping conglomerate A.P. Møller - Mærsk A/S, is stepping down from his role as the company reported only its second annual loss since World War II.