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Price tag for Singapore-based APL Logistics is significantly higher than the $750 million first mooted when NOL announced in August that it was exploring a sale or IPO.
Northern California port blames decline on slowdowns resulting from ongoing contract dispute between ILWU and PMA.
German shipping company hopes to complete its planned purchase of the Chilean liner company by end of March.
Maersk Line CEO Soren Skou told American Shipper container lines need to adapt to permanent overcapacity, and cited Maersk's network management as the primary driver of bumper profits in recent years.
Congress passed a 7-day extension to keep the department running while negotiations over immigration dispute continue.
Texas’s exports reached $289 billion and California topped $174.1 billion in export value for 2014.