The German ocean carrier upped the size of a five-year bond from 150 million euros to 250 million euros.
COSCO may make a bid of more than $4 billion for Hong Kong-based Orient Overseas Container Line, according to various media reports.
The deployment of ultra-large containerships has not only increased average vessel size on key east west trades, but has accelerated the consolidation of carriers into vessel sharing agreements and alliances.
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In attempts to push back against the campaign to turn independent owner-operators in the port drayage industry into employees, the statewide trucking trade association filed a lawsuit last week against various state officials and agencies.
Federal Maritime Commission Chairman Mario Cordero says he is willing to discuss the agency's concerns with Port Authority of New York/New Jersey and OCEMA member carriers, leaving the door open for future approval of a revised agreement.
Omaha, Neb.-based Class I railway Union Pacific has acquired the refrigerated and cold storage distribution assets of Railex LLC in Delano, Calif.; Wallula, Wash.; and Rotterdam, N.Y.