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The French ocean carrier and its subsidiary Delmas will become slot purchasers on the joint Yang Ming, COSCO, Evergreen Line and "K" Line TAE service between North Europe and the United States East Coast in October.
The port terminal operator, in partnership with China Merchants Holdings International and CIC Capital, has agreed to purchase a majority stake in Kumport Terminal at the Ambarli Port Complex in Istanbul, Turkey.
In a separate action, warehouse workers began a strike Tuesday morning against California Cartage warehouse in Los Angeles.
TOTE says "While this reflects that the ship was caught in rough seas and extreme weather, it is in no way indicative of the ship’s fate."
Rep. Stephen Fincher, R-Tenn., introduced a bill that would restore Ex-Im Bank’s operations and include various reforms, but will require a "discharge process" to reach the House floor for a vote.
The company’s minority investment in e-commerce specialist Ally Commerce Inc. is more about research than revenues, according to Rimas Kapeskas, head of UPS’s strategic enterprise fund.