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.
The container freight market is strengthening as carriers begin some 2017 negotiations, and Drewry said some shippers could see contract rates rise 20-40 percent in worst case scenarios.
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BlueWater Reporting illustrated the trade removed 32 vessels and 79,764 TEUs of total deployed capacity between December 2013 and December 2016, while weekly allocated capacity on the trade has been on the rise.
The World Trade Organization has agreed with the United States to establish a dispute settlement panel to examine China’s export duties and quotas on 11 raw materials.
A report issued today by the AASHTO and the AAPA said the FAST Act has brought ports and cargo fully into the surface transportation network and has given the nation a dedicated federal freight program for the first time ever.