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.
Over 50 percent of respondents said their business would be impacted by a vote for the United Kingdom to leave the EU, but just 18.4 percent had a plan in place in the event of a Brexit, according to a recent survey conducted by Logistics Manager.
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Pacific Maritime Association President and CEO James McKenna said he expects to hear from International Longshore and Warehouse Union this summer on whether it wants to discuss the extension of the five-year labor contract.
Taiwanese ocean carrier Yang Ming Transport Corp. named former Evergreen Line executive Bronson Hsieh as its new chairman.
The containership lessor said it won’t accept Hanjin Shipping’s request for a 30 percent reduction in charter rates, a development that could jeopardize the struggling South Korean line’s restructuring plans.