The German ocean carrier is citing benefits from its planned merger with United Arab Shipping Company, but Reuters has reported a "snag" in those plans.
The freight rate marketplace and management software provider's venture capital investment has now topped $50 million as it seeks to digitize the freight rate environment.
The Seattle-based e-commerce giant’s acquisition of SOUQ.com, the largest online retail and marketplace platform in the Arab world, is expected to close some time in 2017.
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Shares in Orient Overseas International Ltd., the parent company of ocean carrier Orient Overseas Container Line, have jumped more than 25 percent since the end of 2016, reaching a 52-week high on Wednesday.
South Korean ocean carrier Hyundai Merchant Marine is backing out of a joint bid with MSC for Hanjin’s 54 percent stake in the largest container terminal at the Port of Long Beach, according to a report from the Wall Street Journal.
The agreement, which will infuse $26 billion into the state-run ocean shipping conglomerate over the next five years, will serve China's "One Belt, One Road" strategy, according to a statement from China COSCO Shipping.