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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The containership lessor said it won’t accept Hanjin Shipping’s request for a 30 percent reduction in charter rates, a development that could jeopardize the struggling South Korean line’s restructuring plans.
The freight forwarding arm of Danish shipping conglomerate AP Moller Maersk said it will provide weighing and data transmission services to help shippers comply with new SOLAS verified gross mass requirements.
Recently purchased APL parent Neptune Orient Lines couldn’t cut costs fast enough to compete in an increasingly commoditized market, chief executive Ng Yat Chung said in a surprisingly candid interview with Singapore’s Straits Times.