Florida East Coast Railway Holdings Corp. will be acquired by GMéxico Transportes S.A. de C.V. in an all cash transaction.
The Atlanta-based parcel giant added four stations in China, and one station each in Poland and Germany to its full and less-than-container load multi-modal rail service between Europe and China.
The port terminal operator arm of the recently merged China COSCO Shipping saw earnings tumble 42.5 percent to $247 million for the full year in 2016 despite a 1.2 percent increase in revenues compared with the previous year.
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Despite historic consolidation, ocean shipping industry veterans skeptical underlying fundamentals have shifted.
With capacity in the ocean carrier industry continuing to outstrip demand levels, many are left wondering what carrier is next in line for a merger or acquisition.
The U.S. Department of Justice served several container shipping lines with subpoenas last week in Sausalito, Calif., where their top executives were attending industry meetings.