The Israeli container carrier told American Shipper Friday it is rejecting the rumor that it has intentions to sell its global shipping operations to instead become a regional Mediterranean carrier.
The French shipping company, which acquired Neptune Orient Lines and its APL subsidiary earlier this year, is seeking a buyer for the APL container terminals.
Historically low ocean freight rates have caused carriers to implement cost-cutting measures that have reduced reliability, meaning shippers need to be more flexible in how they procure capacity.
Mohab Mamish, chairman of Egypt’s Suez Canal Authority, told the Wall Street Journal the authority is asking regular users of the canal to pay for fees as much as five years in advance in return for a 3 percent discount.
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.
Investments in new projects are slowing, and Neil Davidson, senior analyst in Drewry’s ports and terminals practice, warned that a sudden rebound in demand could be a problem.
The Danish ocean carrier’s plan to acquire Hamburg Süd in 2017 caps a landmark year for consolidation in the container shipping industry, noted Mario Cordero, the chairman of the Federal Maritime Commission.
The U.S. Department of Transportation’s Federal Motor Carrier Safety Administration today announced a final rule establishing a national database for the drug and alcohol testing records of commercial truck and bus drivers.
Transportation and logistics companies added 8,900 positions last month, following a revised 12,200-job increase in October, according to recent preliminary data from the U.S. Department of Labor.