COSCO may make a bid of more than $4 billion for Hong Kong-based Orient Overseas Container Line, according to various media reports.
The deployment of ultra-large containerships has not only increased average vessel size on key east west trades, but has accelerated the consolidation of carriers into vessel sharing agreements and alliances.
The container freight market is strengthening as carriers begin some 2017 negotiations, and Drewry said some shippers could see contract rates rise 20-40 percent in worst case scenarios.
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The ship management software provider analyzed six ports throughout the world to better understand what impact the new verified gross mass amendment of the Safety of Life at Sea convention has had on the shipping industry since it took effect July 1.
Dunavant Global Logistics Group has opened an operation in Shenzhen and Hong Kong, in addition to acquiring longtime Mobile, Ala.-based customs broker John M. Brining Inc.
The World Trade Organization has found one of seven separate Boeing tax incentives identified by the European Union to qualify as subsidies since it is contingent on the use of domestic goods over imported ones, according to a statement from the WTO.