The French ocean carrier received confirmation today for its estimated $2.4 billion acquisition of Neptune Orient Lines and its APL container shipping subsidiary by the Anti-monopoly Bureau of the Chinese Ministry of Commerce.
Dubai-based DP World Ltd. raised $1.2 billion from the sale of Islamic bonds and said a tender offer to buy back securities received 48 percent more bids than the target.
Container lines have bungled the International Maritime Organization's new container weight verification requirement, and some now realize they face high internal costs unless they offer a more flexible approach, Peter Friedmann said.
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Stock in South Korea’s second-biggest container carrier fell the most in three weeks in Seoul trading on uncertainty over whether the company would obtain deep discounts for rates on leased vessels in its negotiations with shipowners.
The Commerce Department said it’s found sufficient evidence to preliminary determine that welded stainless pressure pipe imported from India is being dumped on the U.S. market.
Net orders for North American Class 8 trucks in April dropped 16 percent from March and 39 percent compared with April 2015, according to preliminary data from freight forecaster FTR Transportation Intelligence.