COSCO may make a bid of more than $4 billion for Hong Kong-based Orient Overseas Container Line, according to various media reports.
The deployment of ultra-large containerships has not only increased average vessel size on key east west trades, but has accelerated the consolidation of carriers into vessel sharing agreements and alliances.
The container freight market is strengthening as carriers begin some 2017 negotiations, and Drewry said some shippers could see contract rates rise 20-40 percent in worst case scenarios.
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MOL appoints chief country representatives in Brazil and Mexico, while Bureau International des Containers names new secretary general.
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 shipping company’s first of six new vessels is expected to be delivered in the fourth quarter of 2017.