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Combined with the sweeping Trans-Pacific Partnership free trade agreement signed last month, the Chinese policy could help "ignite new trade," according to Federal Maritime Commissioner Richard A. Lidinsky.
Neptune Orient Lines, parent of liner company APL, has confirmed it has entered into talks with CMA CGM and Maersk about a potential sale, while COSCO and China Shipping told FMC Commisioner William Doyle they are in the "beginning stages of a merger."
Chinese carriers COSCO and China Shipping told the Federal Maritime Commission they are in the beginning stages of a merger, while Bloomberg reported CMA CGM has entered into talks to buy APL parent Neptune Orient Lines.
Industry groups said they are willing to work with the port to speed cargo through POLB, but expressed concern about how the plan might affect shippers, who want to pick up containers faster but say getting chassis and trucking capacity can be difficult.
U.S. Agriculture Secretary Tom Vilsack said at the conclusion of the JCCT meeting Monday that China indicated it will review 11 biotechnology applications and continue the dialogue on U.S. beef.
Port of Miami Terminal Operating Company, the only non-carrier affiliated terminal, saw its volumes double to 22,225 TEUs, the largest percentage gain among the three container terminals at the South Florida port.