Yang Ming responded by saying it has unwavering support of Taiwan’s government and has "proactively reorganized internally to effectively reduce its operating costs."
Orient Overseas Container Line’s parent company said it is not aware or involved in any bid relating to the company or OOCL.
Kansas City Southern’s net income fell 1.1 percent to $479.9 million for the full year in 2016 on revenues that slid 3.5 percent compared to the previous year, according to the company’s most recent financial statements.
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The transportation and logistics industry has experienced a notable year between Hanjin’s bankruptcy, the new verified gross mass regulation and the expanded Panama Canal.
Japan's three largest ocean carriers said Monday in Tokyo they will merge their container operations in mid-2017 to form what would be the sixth largest line, continuing a recent trend of industry consolidation.
Fellow Japanese ocean carrier “K” Line exited the Transpacific Stabilization Agreement Aug. 19, while MOL, the other major ocean carrier based out of Japan, left the group in 2008.