The German ocean carrier said its merger with UASC will create the world's fifth largest container carrier and secure the large ships it needs for the Far East-Europe trade.
The Government Accountability Office has denied a competitor's protest that the U.S. Transportation Command improperly awarded a contract to operate a major military port.
The port terminal operator division of China COSCO Shipping Corp. posted net profits attributable to equity shareholders of the company of $171.9 million on revenues of $275 million, year-over-year declines of 8.1 percent and 0.6 percent, respectively.
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The U.S. Department of Transportation said it plans to allocate almost $500 million to 40 projects under the popular TIGER grant program.
The aging Poe Lock was rebuilt in 1968 and is currently the only lock at the Soo Locks Complex equipped to handle 1,000-foot vessels.
Ocean carriers MSC, Hapag-Lloyd, Hamburg Sud and UASC will be shaking things up on the Europe-Middle East/ISC trade.