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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Starting next week, the terminal will be the first of six facilities within the Port of New York and New Jersey to roll out the port authority's new Truck Management System.
The Georgia Ports Authority and the South Carolina Ports Authority signed an agreement in 2015 to develop the Jasper Ocean Terminal, which will be jointly owned and operated by both port authorities.
The Danish conglomerate said at its 2016 Capital Markets Day presentation that it wants container shipping to once again become a growth business for the company, while APM Terminals will focus less on developing and more on filling up existing facilities.