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.
FedEx Express entered into an agreement with Korail Networks to utilize the Korea Train eXpress network to transport time-and temperature-sensitive healthcare shipments.
The Danish liner carrier has resumed service to Iran after a five-year absence and just a year and a half after the Maersk Tigris was fired upon by the Iran Revolutionary Guard Corps Navy.
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The Danish conglomerate said one division will focus on transport and logistics, while the other division will focus on energy.
The President of South Korea, Park Geun-hye, said corporate responsibility and moral hazards are creating adverse effects on its national economy and the government will not blindly support companies in financial trouble.
Various media reports have speculated the sale of South Korean liner carrier Hanjin Shipping, viewing COSCO and Maersk Line as possible buyers.