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.
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Consolidation in the ocean shipping industry is causing drastic changes to the current carrier vessel sharing agreements, but how will it all play out? American Shipper CEO Hayes Howard discusses some of the possible alliance scenarios.
The agricultural export group, which has been a critic of the container weight regulation implementation process, praised South Carolina Ports Authority CEO Jim Newsome for suggesting the use of port scales to obtain verified gross mass.
An American Shipper report released Tuesday found that nearly three-quarters of shippers and forwarders believe they will have containers held when the new verified gross mass mandate kicks in July 1.