The French ocean carrier received confirmation today for its estimated $2.4 billion acquisition of Neptune Orient Lines and its APL container shipping subsidiary by the Anti-monopoly Bureau of the Chinese Ministry of Commerce.
The third-party logistics provider has partnered with Jinbei Automotive to build a 42,000-square-meter facility in the Shenyang Tiexi district of northeast China, the DB Schenker’s second largest logistics center in the country.
The seasonally adjusted For-Hire Truck Tonnage Index equaled 134.8 for the month, down another 2.1 percent from March and 2 percent compared with April 2015, according to the American Trucking Associations.
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A downbeat report from the London-based shipping consultant says freight rates are low and low oil prices are unlikely to drive profitability for the Danish conglomerate, but that stock in A.P. Moller Maersk is still a relatively low risk investment.
The European Union competition watchdog said a trustee will monitor both companies to ensure there is no information sharing between the Ocean3 and G6 ocean carrier alliances, of which CMA CGM and Neptune Orient Lines subsidiary APL are currently members.
The fund will prioritize orders for 13,000-TEU containerships, potentially supporting an additional 15 to 20 vessel orders, according to an investment advisory note from Wells Fargo.