Florida East Coast Railway Holdings Corp. will be acquired by GMéxico Transportes S.A. de C.V. in an all cash transaction.
The Atlanta-based parcel giant added four stations in China, and one station each in Poland and Germany to its full and less-than-container load multi-modal rail service between Europe and China.
The port terminal operator arm of the recently merged China COSCO Shipping saw earnings tumble 42.5 percent to $247 million for the full year in 2016 despite a 1.2 percent increase in revenues compared with the previous year.
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The U.S. Department of Justice served several container shipping lines with subpoenas last week in Sausalito, Calif., where their top executives were attending industry meetings.
A study prepared for the Directorate-General for Climate Action found that savings from Flettner rotors and wing sails are seen as comparable.
Various headwinds in 2016 sent the industry into a tailspin, culminating with the demise of Hanjin Shipping, a company many thought was too big to fail.