However, rates from Shanghai to Europe and the Mediterranean both fell 0.5 percent since last Friday.
Negotiations between the United States and European Union on the Transatlantic Trade and Investment Partnership free trade agreement may still be on the table despite assumptions to the contrary, according to a report from Agence France-Presse.
The Hong Kong-based third-party logistics provider increased earnings in 2016, and looking ahead, expects to complete the acquisition of a controlling stake in a Dubai-based freight forwarding group in May.
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Drewry’s investment research arm said it believes CMA CGM of France is best positioned among the major carriers to be a perfect suitor for Orient Overseas (International) Limited, the parent company of Hong Kong-Based OOCL.
Despite historic consolidation, ocean shipping industry veterans skeptical underlying fundamentals have shifted.
The agreement, which will infuse $26 billion into the state-run ocean shipping conglomerate over the next five years, will serve China's "One Belt, One Road" strategy, according to a statement from China COSCO Shipping.