The German ocean carrier upped the size of a five-year bond from 150 million euros to 250 million euros.
COSCO may make a bid of more than $4 billion for Hong Kong-based Orient Overseas Container Line, according to various media reports.
The deployment of ultra-large containerships has not only increased average vessel size on key east west trades, but has accelerated the consolidation of carriers into vessel sharing agreements and alliances.
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The U.S. Department of Transportation is establishing a new advisory committee focused on automation research, development and regulation across several transportation modes, the department said in a statement.
New ship orders declined in 2016, driven down by overcapacity and sluggish global trade growth, and although devastating for shipyards and their workers, the drop may be necessary if the health of the container liner industry is going to be restored.
Inna Kuznetsova, president and chief operating officer of INTTRA, explained the reasons behind the company’s rapid growth in a recent interview with American Shipper.