The independent containership owner and manager purchased the vessels for $195.6 million.
The U.S. Commerce Department’s International Trade Administration released a report Wednesday, showing that 92 percent of more than $1.3 trillion worth of U.S. goods exported in 2015 were likely affected by foreign technical regulations.
The Arab ocean carrier's shareholders would own 28 percent of the combined company, while the existing shareholders of Hapag-Lloyd would own 72 percent of the new company.
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The agricultural export group, which has been a critic of the container weight regulation implementation process, praised South Carolina Ports Authority CEO Jim Newsome for suggesting the use of port scales to obtain verified gross mass.
The 19 ocean carrier members of the Ocean Carrier Equipment Management Association are collaborating with six U.S. ports to establish a harmonized container weighing process.
The derailment of a Union Pacific freight train on Friday, which burst into flames and spilled crude oil into the Columbia River near Mosier, Ore., was likely caused by track failure, UP spokesperson Raquel Espinoza said Sunday.