The parcel carrier’s expedited shipping segment will raise prices by an average of 3.9 percent in Germany, effective Jan. 1, 2017, with prices in other countries varying based on local conditions, the company said in a statement.
The total value of cross-border freight between the United States and North American trading partners Canada and Mexico slipped another 6.4 percent year-over-year in June 2016, according to the Bureau of Transportation Statistics.
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.
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The South Korean ocean carrier filed for recognition of its Korean insolvency proceeding in the United States Friday in the U.S. Bankruptcy Court for the District of New Jersey and the court ordered a hearing on the request for Tuesday.
A hearing will be held Tuesday in a U.S. bankruptcy court in Newark, N.J. to consider the South Korean ocean carrier’s request to have its rehabilitation proceeding in bankruptcy court in Korea recognized under Chapter 15 of the U.S. bankruptcy code.
Major container ports in the United States handled 1.63 million TEUs in July, up 3.2 percent from June and 0.7 percent from July 2015, according to the monthly Global Port Tracker report by the National Retail Federation and Hackett Associates.