The freight visibility software provider said it will be aggressively pursuing plans through 2017 to introduce support for additional modes of transportation.
Drewry's investment arm said the Taiwanese government will need to support Yang Ming, but Bronson Hsieh, chairman of the shipping company, said a merger is not an option.
Hunter Harrison, retiring president and CEO of the Calgary-based Class I railway, has apparently decided to cut his remaining time with the company short, and may be eyeing U.S. railroad CSX as his next move.
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The Federal Maritime Commission said Friday it concluded its review of the proposed OCEAN Alliance, allowing the new ocean carrier alliance to take effect Monday, although it is not expected to commence operations until around April 2017.
Peak season capacity took a major hit in third quarter 2016 as carriers scrambled to replace services interrupted by Hanjin Shipping’s Aug. 31 bankruptcy announcement.
Patrik Berglund, chief executive officer of Oslo-based ocean freight rate intelligence platform Xeneta, said Hanjin Shipping’s insolvency has “turned the market on its head,” but the real question is “how long will this last?”