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 United States Maritime Alliance, the employer group that negotiates the master contract with the International Longshoremen's Association, called the ILA’s planned work stoppage threat “disturbing.”
Federal Maritime Commission Chairman Mario Cordero says he is willing to discuss the agency's concerns with Port Authority of New York/New Jersey and OCEMA member carriers, leaving the door open for future approval of a revised agreement.
The U.S. maritime regulator granted the five-member ocean carrier alliance approval to take effect Dec. 19.