The independent containership owner and manager purchased the vessels for $195.6 million.
The U.S. Commerce Department’s International Trade Administration released a report Wednesday, showing that 92 percent of more than $1.3 trillion worth of U.S. goods exported in 2015 were likely affected by foreign technical regulations.
The Arab ocean carrier's shareholders would own 28 percent of the combined company, while the existing shareholders of Hapag-Lloyd would own 72 percent of the new company.
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Ocean carriers are coming around to the idea that being part of an alliance could save them money and help them offer shippers a greater variety of routes, something airlines have long known, according to Bloomberg Gadlfy columnist Chris Bryant.
A sense of what the container shipping industry may look like a year from now has started to emerge as ocean carriers seek to avoid a financial wreck from overcapacity and low freight rates.
AAGEX Freight Group President and CEO Mike Williams said the new company is inspired by his vision to advance a business model for logistics entrepreneurs to keep pace in a fast evolving market.