Crude oil prices are are down about 4.6 percent this week as rising U.S. stockpiles and OPEC production have cushioned the impact of declines in North American output.
HNA Group Co., the acquisitive owner of China’s fourth-largest airline, has approached the biggest shareholder of CWT Ltd. to express interest in a possible bid for control of the third-party logistics provider.
America’s trade deficit shrank 13.9 percent to $40.4 billion in March 2016, the smallest since February 2015, according to figures released by the Commerce Department Wednesday.
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China COSCO Holdings Co. Ltd., which now includes the combined operations of China Shipping Container Lines Co., reported losses in both its container shipping and dry bulk operations during the first quarter as rates in both segments plummeted.
Ocean carriers CMA CGM, COSCO, Evergreen Line and OOCL revealed they will form a new alliance next April.
The European Union competition watchdog said a trustee will monitor both companies to ensure there is no information sharing between the Ocean3 and G6 ocean carrier alliances, of which CMA CGM and Neptune Orient Lines subsidiary APL are currently members.