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Chinese carriers COSCO and China Shipping told the Federal Maritime Commission they are in the beginning stages of a merger, while Bloomberg reported CMA CGM has entered into talks to buy APL parent Neptune Orient Lines.
XPO Logistics, which announced Friday it had finalized its $3 billion acquisition of trucking and logistics provider Con-way Inc., will cut more than 10 percent of current Con-way staff at its Ann Arbor, Mich. headquarters and Portland, Ore. IT center.
There appears to have been some improvement in vessel waiting times, but the Panama Canal Authority announced on Sunday it will take additional steps in an attempt to to clear the backlog of ships at the Central American waterway.