Separately, the three Japanese ocean carriers - NYK, “K” Line and MOL - on Friday filed an agreement with the Federal Maritime Commission to merge container operations.
The sanctions, pursuant to the Iran, North Korea, and Syria Nonproliferation Act, will remain in place for two years.
The ranking member of the House Transportation and Infrastructure Committee introduced the Investing in America: A Penny for Progress Act, which aims to raise roughly $500 billion in transportation infrastructure funding via 30-year Treasury bonds.
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The U.S. Department of Justice served several container shipping lines with subpoenas last week in Sausalito, Calif., where their top executives were attending industry meetings.
Forwarders and NVOs are accustomed to adapting to complex markets and new competitors, but is this time different?
Yang Ming responded by saying it has unwavering support of Taiwan’s government and has "proactively reorganized internally to effectively reduce its operating costs."