The German ocean carrier’s shareholders of Friday approved all items on the agenda for the annual meeting, most notably including the approval of new authorized share capital, which will be used toward the merger with UASC.
The U.S. Department of Agriculture said the nation's agricultural trade surplus is also expected to increase to $19.5 billion for fiscal year 2017, up 40 percent from $13.9 billion for fiscal year 2016.
With 13 of the top 20 container lines reporting combined losses of $2.5 billion in the first half alone, industry losses will likely range from $8 billion to $10 billion for the full year, according to Lars Jensen, CEO of SeaIntelligence Consulting.
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The Surface Transportation Board last week issued two decisions in passenger rail proceedings, one of which included the withdrawal of a previous proposal that would have allowed railroads to prioritize cargo operations over Amtrak passenger trains.
The U.N. Economic Commission for Europe said China has ratified the TIR Convention, which it says will further streamline cross-border transportation for cargo moving between China and Europe.
Price, port coverage and transit times are traditionally the primary determinants in choosing a container carrier or service loop, but with vessels stopping at fewer ports and sailing slower than ever before, it's fair to wonder if this is still the case.