The French ocean carrier received confirmation today for its estimated $2.4 billion acquisition of Neptune Orient Lines and its APL container shipping subsidiary by the Anti-monopoly Bureau of the Chinese Ministry of Commerce.
The third-party logistics provider has partnered with Jinbei Automotive to build a 42,000-square-meter facility in the Shenyang Tiexi district of northeast China, the DB Schenker’s second largest logistics center in the country.
The seasonally adjusted For-Hire Truck Tonnage Index equaled 134.8 for the month, down another 2.1 percent from March and 2 percent compared with April 2015, according to the American Trucking Associations.
Registration takes less than 1 minute.
"Orphan carriers” excluded from the 2M Alliance and the proposed OCEAN Alliance are scheduled to brief the Federal Maritime Commission Wednesday.
China COSCO Holdings Co. Ltd., which now includes the combined operations of China Shipping Container Lines Co., reported losses in both its container shipping and dry bulk operations during the first quarter as rates in both segments plummeted.
The German container carrier attributed its swing to a $127.5 million profit in 2015 from a $675.6 loss in 2014 to the merger with Chilean carrier CSAV, internal cost-cutting, and lower external costs, including a big drop in fuel prices.