The freight visibility software provider said it will be aggressively pursuing plans through 2017 to introduce support for additional modes of transportation.
Drewry's investment arm said the Taiwanese government will need to support Yang Ming, but Bronson Hsieh, chairman of the shipping company, said a merger is not an option.
Hunter Harrison, retiring president and CEO of the Calgary-based Class I railway, has apparently decided to cut his remaining time with the company short, and may be eyeing U.S. railroad CSX as his next move.
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Five large terminal companies and the Port of Rotterdam Authority filed the “Global Ports Group Agreement” with the Federal Maritime Commission to promote the efficiency and effectiveness of the container port industry.
The World Container Index has increased by 62 percent since the bankruptcy of Hanjin at the end of August 2016, London-based shipping research and consulting firm Drewry said.
The contract freight rate benchmarking company warned, however, that stability will be hard to come by, and if just one or two carriers begin to drop rates and chase market share again, prices will likely fall across the board.