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Singapore investment company Temasek is seeking buyers for Neptune Orient Lines, parent of ocean carrier APL, according to reports from the Wall Street Journal.
The third-party logistics provider increased net income and revenues by 15.1 percent and 3 percent, respectively, in the first half of 2015 compared to the same period last year.
The trucking company and third party logistics provider reported net earnings of $103.4 million in second quarter 2015, compared with $93.4 million in second quarter 2014.
The second quarter financial results of ocean carriers NYK, MOL and "K" Line reflected a weak Asia-Europe market and strong supply pressure.
The U.S. Senate also passed a long-term highway bill that will be debated by the House after the summer break.
The European Commission will now conduct an in-depth analysis under the EU's merger regulations before coming to a decision on FedEx's $4.8 billion offer to buy TNT.