The Federal Maritime Commission said Friday it concluded its review of the proposed OCEAN Alliance, allowing the new ocean carrier alliance to take effect Monday, although it is not expected to commence operations until around April 2017.
FedEx Express entered into an agreement with Korail Networks to utilize the Korea Train eXpress network to transport time-and temperature-sensitive healthcare shipments.
The Danish liner carrier has resumed service to Iran after a five-year absence and just a year and a half after the Maersk Tigris was fired upon by the Iran Revolutionary Guard Corps Navy.
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The London-based shipping research and consulting firm said that as currently planned, “The Alliance” will be "at a size disadvantage," making up 24 percent of East-West capacity.
As part of its integration with fellow state-run ocean carrier China Shipping, COSCO Holdings sold the vessels Na Xi He, Bu Yi He, Yu Gu He, Ha Ni He, and Jing Po He for a total of 90 million yuan renminbi (U.S. $13.5 million).
The Danish conglomerate said one division will focus on transport and logistics, while the other division will focus on energy.