'Ocean Three' agreements will unite the carriers on major East-West trades.
The merger, once fully approved, will create the world's fourth largest container shipping company.
A new benchmark survey from accounting firm KSM and McLeod software finds operating ratio and MPG better for carriers with 500-plus trucks.
COSCO officials said the investment for new ships is needed to improve the competitiveness of its fleet.
The LTL trucking company secured an agreement that amends its debt covenant to lenders.