The independent containership owner and manager purchased the vessels for $195.6 million.
The U.S. Commerce Department’s International Trade Administration released a report Wednesday, showing that 92 percent of more than $1.3 trillion worth of U.S. goods exported in 2015 were likely affected by foreign technical regulations.
The Arab ocean carrier's shareholders would own 28 percent of the combined company, while the existing shareholders of Hapag-Lloyd would own 72 percent of the new company.
Registration takes less than 1 minute.
The Calgary-based Class I railroad cited lower-than-anticipated bulk volumes, the devastating wildfires in northern Alberta and a strengthening Canadian dollar as the primary reasons for the downward revision in earnings expectations.
Claude Mongeau, president and chief executive officer of Canadian National Railway, will be succeeded in his role by current Chief Financial Officer Luc Jobin after having surgery to remove a tumor from his throat in 2015.
The French ocean carrier transported 2.9 percent more containers, but saw the average freight rate tumble 17.6 percent when compared to the first quarter of 2015.