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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The Danish conglomerate said at its 2016 Capital Markets Day presentation that it wants container shipping to once again become a growth business for the company, while APM Terminals will focus less on developing and more on filling up existing facilities.
Members of the 2M Alliance - Maersk and MSC - reached a space-sharing deal with HMM, which they said is “outside the scope” of the 2M Alliance, but will involve HMM buying slots on 2M vessels and 2M partners purchasing slots with HMM on selected routes.
The S.S. Detroit, also named the U.S.S. Tangier, was built in 1940 as a C-3 freighter and fired the first American shot of World War II before being sold to Sea-Land in the 1960's for conversion to an automobile carrier.