The French ocean carrier received confirmation today for its estimated $2.4 billion acquisition of Neptune Orient Lines and its APL container shipping subsidiary by the Anti-monopoly Bureau of the Chinese Ministry of Commerce.
Dubai-based DP World Ltd. raised $1.2 billion from the sale of Islamic bonds and said a tender offer to buy back securities received 48 percent more bids than the target.
Container lines have bungled the International Maritime Organization's new container weight verification requirement, and some now realize they face high internal costs unless they offer a more flexible approach, Peter Friedmann said.
Registration takes less than 1 minute.
The OCEMA working group published recommendations for how and when shippers should submit SOLAS container weight verification data ahead of the July 1 implementation deadline.
More than 100 neopanamax ships have already made reservations to transit the waterway's new larger locks following the historic inauguration and first voyage, according to the Panama Canal Administration.
Meanwhile, the U.S. Federal Maritime Commission is calling for carriers and shippers to work together to find a solution so exports are not left on the docks for lack of verified gross mass documentation come July 1.