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Price tag for Singapore-based APL Logistics is significantly higher than the $750 million first mooted when NOL announced in August that it was exploring a sale or IPO.
Northern California port blames decline on slowdowns resulting from ongoing contract dispute between ILWU and PMA.
German shipping company hopes to complete its planned purchase of the Chilean liner company by end of March.
Marine terminal officials agree that future contracts will require ongoing collaboration.
Maersk Line CEO Soren Skou told American Shipper container lines need to adapt to permanent overcapacity, and cited Maersk's network management as the primary driver of bumper profits in recent years.
Economist revised forecasts, predicting lower import growth and a second year of declines in exports.