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 parcel carrier has agreed to pay $240 million to settle lawsuits covering around 13,000 divers across 20 states who claimed they should have been treated as employees instead of independent contractors.
Starbucks names new executive VP for global supply chain, while DHL appoints senior leadership for its eCommerce division and Foss Maritime promotes new president.
The agricultural export group, which has been a critic of the container weight regulation implementation process, praised South Carolina Ports Authority CEO Jim Newsome for suggesting the use of port scales to obtain verified gross mass.