The German ocean carrier’s shareholders of Friday approved all items on the agenda for the annual meeting, most notably including the approval of new authorized share capital, which will be used toward the merger with UASC.
The U.S. Department of Agriculture said the nation's agricultural trade surplus is also expected to increase to $19.5 billion for fiscal year 2017, up 40 percent from $13.9 billion for fiscal year 2016.
With 13 of the top 20 container lines reporting combined losses of $2.5 billion in the first half alone, industry losses will likely range from $8 billion to $10 billion for the full year, according to Lars Jensen, CEO of SeaIntelligence Consulting.
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The Port of Long Beach Harbor Commission on Monday authorized a voluntary framework program that will disburse $46.4 million in local neighborhoods over the next dozen years or more to reduce the impact of port-related pollution.
Gerry Wang, chief executive officer of Seaspan, expressed how he believes the industry will gradually improve if scrapping remains high and new ship orders remain low.
The Dubai, United Arab Emirates-based global port terminal operator signed a memorandum of understanding with state-run Taiwan International Ports Corporation to build and operate Kaohsiung Port’s Terminal 7 in Taiwan.