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Chinese liner giant China Shipping Container Lines pointed to the cost and environmental benefits of ultra-large large containerships as the primary reasons for the new order.
Neptune Orient Lines, parent of ocean liner APL, attributed the poor financial results primarily to weak peak season shipment volumes to North America and Europe, which resulted in lower freight rates for container carriers.
XPO Logistics, which announced Friday it had finalized its $3 billion acquisition of trucking and logistics provider Con-way Inc., will cut more than 10 percent of current Con-way staff at its Ann Arbor, Mich. headquarters and Portland, Ore. IT center.