Ocean carriers entering the market in 2010 and 2011 had a tough time, but SM Line said it believes it is timing its entrance into the transpacific market well, noting how freight rates are improving.
In addition, Hong Kong-based Orient Overseas Container Line is scheduled to receive a series of 20,000-TEU ships later this year.
South Korean ocean carrier Hyundai Merchant Marine said it expects to save costs and boost competitiveness through the “2M+H Strategic Cooperation,” which was signed Wednesday in Sausalito, Calif.
German conglomerate Dr. August Oetker KG said the deal may take place at the end of the year, subject to regulatory approval.
The deal will give Hyundai Merchant Marine access to the intra-Asia networks of Heung-A and Sinokor.
Trucking industry executives visited the White House Thursday afternoon to talk about issues that affect their businesses.
Negotiations between the United States and European Union on the Transatlantic Trade and Investment Partnership free trade agreement may still be on the table despite assumptions to the contrary, according to a report from Agence France-Presse.
The AAPA and CAGTC have issued separate statements decrying President Donald Trump’s proposed 2018 discretionary budget, which would eliminate funding for the Transportation Investment Generating Economic Recovery (TIGER) grants program.
In addition to a 13 percent cut in funding for the U.S. Department of Transportation, a 2018 budget proposal released yesterday by President Trump's administration would completely eliminate the TIGER grant program and privatize air traffic control.
The Airforwarders Association said air cargo security programs need leadership with strong ties to the White House.
The nationwide trucker and third-party logistics provider said it hopes to raise between $281 million and $359 million with the initial public offering, and provided details on how it plans to use the proceeds.
The Hong Kong-based third-party logistics provider increased earnings in 2016, and looking ahead, expects to complete the acquisition of a controlling stake in a Dubai-based freight forwarding group in May.
However, rates from Shanghai to Europe and the Mediterranean both fell 0.5 percent since last Friday.