Hunter Harrison, retiring president and CEO of the Calgary-based Class I railway, has apparently decided to cut his remaining time with the company short, and may be eyeing U.S. railroad CSX as his next move.
Terminal Investment Limited - jointly owned by MSC and Global Infrastructure Partners - will become the largest owner of Total Terminals International, which Hyundai Merchant Marine will also own a stake in.
The German ocean carrier upped the size of a five-year bond from 150 million euros to 250 million euros.
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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.
The U.S. maritime regulator granted the five-member ocean carrier alliance approval to take effect Dec. 19.
The total bill for bankruptcies and bailouts in South Korea’s ocean freight transportation and shipbuilding sector could also result in redundancies and layoffs of around 10,000 workers, according to a recent report from the International Monetary Fund.