Crude oil prices are are down about 4.6 percent this week as rising U.S. stockpiles and OPEC production have cushioned the impact of declines in North American output.
HNA Group Co., the acquisitive owner of China’s fourth-largest airline, has approached the biggest shareholder of CWT Ltd. to express interest in a possible bid for control of the third-party logistics provider.
America’s trade deficit shrank 13.9 percent to $40.4 billion in March 2016, the smallest since February 2015, according to figures released by the Commerce Department Wednesday.
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The proposed alliance would become a dominant player in the three major east-west trades, beating out total capacity currently offered by the 2M Alliance on those trade lanes, according to an analysis from BlueWater Reporting.
Meanwhile, the European Commission Competition Directorate has set a “provisional deadline” for a decision on CMA CGM's purchase of APL parent Neptune Orient Lines for this Friday, April 29.
Container transport revenues at the Danish shipping conglomerate fell 20 percent year-over-year for the quarter due to a 26 percent decline in average freight rates.