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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Ten empty containers fell overboard the 14,000-TEU MSC Alexandra after its collision with a tanker in the Singapore Straight Wednesday at around 23:55 local time.
Ocean carrier MSC has started investing in TRAXENS, a French start-up that produces technology for ocean container tracking.
Until now, Freightos has focused on helping forwarders quote faster, but since January, the logistics technology provider has been beta testing its China-to-United States marketplace.