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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Elaine Chao testified before the Senate Commerce Committee, which is reviewing her nomination to be secretary of transportation, but provided few details on how the Trump administration intends to pursue investments in infrastructure.
FMC Commissioner Doyle says provisions in new vessel sharing agreement could protect other members in the event of a Hanjin-like bankruptcy.
The Floridian port is ready to launch a second round of investment - this time with the goal of increasing capacity and service levels within the container yard.