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 Line shares it does not already own, control or has agreed to acquire.
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The Swiss-based freight forwarding and logistics company is best known for its air and freight forwarding business, but has successfully added warehousing and distribution, along with related outsourced services, to its portfolio over the years.
Ports that insist on "no doc/no gate" policies with regard to verified container weights could lose business, the company's export manager says.
Ship owners on Wednesday broke off rate negotiations with struggling South Korean shipping conglomerate Hyundai Merchant Marine without reaching an agreement, according to multiple reports from Korean media outlets.