Yang Ming responded by saying it has unwavering support of Taiwan’s government and has "proactively reorganized internally to effectively reduce its operating costs."
Orient Overseas Container Line’s parent company said it is not aware or involved in any bid relating to the company or OOCL.
Kansas City Southern’s net income fell 1.1 percent to $479.9 million for the full year in 2016 on revenues that slid 3.5 percent compared to the previous year, according to the company’s most recent financial statements.
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Harold J. Daggett, president of the International Longshoremen’s Association, said the union will oppose fully-automated container terminals in upcoming contract talks with the United States Maritime Alliance.
In a surprise announcement, Customs and Border Protection has delayed implementing several post-release functions in its Automated Commercial Environment in order to resolve outstanding technical issues.
The contract freight rate benchmarking company warned, however, that stability will be hard to come by, and if just one or two carriers begin to drop rates and chase market share again, prices will likely fall across the board.