The German ocean carrier said its merger with UASC will create the world's fifth largest container carrier and secure the large ships it needs for the Far East-Europe trade.
The Government Accountability Office has denied a competitor's protest that the U.S. Transportation Command improperly awarded a contract to operate a major military port.
The port terminal operator division of China COSCO Shipping Corp. posted net profits attributable to equity shareholders of the company of $171.9 million on revenues of $275 million, year-over-year declines of 8.1 percent and 0.6 percent, respectively.
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Meanwhile, the Bonn, Germany-based parcel carrier is withdrawing from long-distance bus service and selling its Postbus unit to FlixMobility GmbH for an undisclosed price, Deutsche Post DHL Group said in a statement Wednesday.
Overall intermodal traffic in North America fell 6.1 percent in second quarter 2016, the first volume decline in 25 consecutive quarters, according to data from the Intermodal Association of North America.
Trade organizations representing shippers and transportation organizations on Monday sent a letter to ILWU President Robert McEllrath and PMA Chairman and CEO James McKenna, requesting discussions begin on either a contract extension or a new contract.