Separately, the three Japanese ocean carriers - NYK, “K” Line and MOL - on Friday filed an agreement with the Federal Maritime Commission to merge container operations.
The sanctions, pursuant to the Iran, North Korea, and Syria Nonproliferation Act, will remain in place for two years.
The ranking member of the House Transportation and Infrastructure Committee introduced the Investing in America: A Penny for Progress Act, which aims to raise roughly $500 billion in transportation infrastructure funding via 30-year Treasury bonds.
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The joint container venture between Japan’s ‘Big 3’ will have a fleet capacity of 1.38 million TEUs, making it the sixth largest in the world, and when their 23 new ships are delivered, the merged operation will become the fifth largest carrier.
German ocean carrier Hapag-Lloyd and United Arab Shipping Company are shifting the long-stop date under the Business Combination Agreement (BCA) to May 31.
Fellow Japanese ocean carrier “K” Line exited the Transpacific Stabilization Agreement Aug. 19, while MOL, the other major ocean carrier based out of Japan, left the group in 2008.