TNT Express on Friday said it has entered an agreement to sell its airline operations, TNT Airways and Pan Air Líneas Aéreas, to ASL Aviation Group.
Canadian Pacific published a third white paper regarding its proposed acquisition of Norfolk Southern Corp., and the U.S. Surface Transportation Board has begun to receive letters from rail customers in support of the controversial takeover.
A $60 million upfront payment by Ports America and TIL gives the Northern California port limited recourse following their departure from Oakland Harbor Terminal, according to a research note by Fitch Ratings.
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The Port of Oakland has indicated officials are negotiating with TraPac, but said its other terminals will handle former OHT cargo and expects no diversion as a result of decision by TIL and Ports America to end operations at the port.
The Hong Kong-based ocean carrier Orient Overseas Container Line said its overall revenue per TEU in the fourth quarter of 2015 fell 17.3 percent compared to the same quarter a year ago.
The 17th richest person in Taiwan, Chang was known as a bit of a maverick in the ocean shipping industry, as well as a philanthropist and environmental advocate.