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Singapore investment company Temasek is seeking buyers for Neptune Orient Lines, parent of ocean carrier APL, according to reports from the Wall Street Journal.
Hapag-Lloyd has reportedly picked Deutsche Bank, Goldman Sachs and Berenberg to assist it with an initial public offering, fueling speculation the German ocean carrier is accelerating its plan for a public float.
Spot rates as measured by the Shanghai Containerized Freight Index fell 10.7 percent after spiking upward last week.
Meanwhile, drayage drivers at Pacific 9 Transportation continue their strike in an attempt to be reclassified as employee drivers.
The future of the Export-Import Bank is still in doubt because it depends on passage of a long-term transportation bill that is expected to pass the Senate, but which faces strong opposition in the House.
Roadrunner's CEO Mark DiBlasi said the purchase of Stagecoach Cartage will expand its trucking network in the Southwest U.S. and along the Mexican border.