United States GDP grew slightly more than initially expected in the first quarter of 2016, and durable goods orders ticked up in April, according to the most recent data from the Department of Commerce.
Meanwhile, the struggling South Korean ocean carrier said in a statement Sunday it expects to reach an agreement with ship owners regarding charter rate renegotiations “soon.”
The French ocean carrier reported it will pay 1.3 Singapore dollars (U.S. $0.94) for the Neptune Orient Lines' shares it does not already own, control or has agreed to acquire.
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The proposed alliance would become a dominant player in the three major east-west trades, beating out total capacity currently offered by the 2M Alliance on those trade lanes, according to an analysis from BlueWater Reporting.
APM Terminals will expand its presence in the Port of Tangier, opposite its long-established terminal in Algeciras, Spain, by building a second $863 million port complex that will have the ability to handle 5 million TEUs annually.
The 2M Alliance, comprised of ocean carriers Maersk Line and MSC, will also add a call in New York to another one of its loops between Asia and the U.S. East Coast.