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Singapore investment company Temasek is seeking buyers for Neptune Orient Lines, parent of ocean carrier APL, according to reports from the Wall Street Journal.
Meanwhile, maritime consultant Drewry said it believes the sale of G6 Alliance member APL's parent company Neptune Orient Lines is unlikely at this time, despite the line being a "habitual loss maker."
The International Chamber of Shipping complained protectionist policies could limit access to U.S. oil and gas exports.
Senat Shipping claimed no wrongdoing or illegal activity on its part, and said the Treasury Departments action is a “misguided measure purely based on Senat's historical dealings with OMM,” according to a report from Reuters.
Oregon Rep. Earl Blumenauer said his recently introduced STRONGER Act would establish an enforcement trust fund that would be "paid for by foreign exporting cheaters."
Singapore-based GLP's $4.55 billion acquisition of IIT's logistics assets will make it second largest logistics property owner and operator in the United States within a year of market entry, the company said.