Workhorse Group has developed an eight-rotor “octocopter” called HorseFly designed to be used in tandem with its electric package delivery trucks, some of which are in service with companies like FedEx and UPS.
The ocean carrier reported a net loss of 7.21 billion yuan renminbi in the first six months of the year compared with a 1.97 billion yuan renminbi profit in the same 2015 period amid its merger with fellow state-run line China Shipping.
U.S. industrial conglomerate Honeywell completed a $1.5 billion purchase of Intelligrated, an information technology specialist in supply chain and warehouse automation.
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Turkish port operator Yilport Holding secured a 50-year concession to develop Puerto Bolívar Port and committed to invest $750 million in the Ecuadorian port.
The alliance, which was formed one year ago between the ports of Seattle and Tacoma, is 90 percent complete with the design for Terminal 5 in Seattle, another terminal that could eventually handle megaships.
The London-based shipping consultant said the focus of the industry is shifting away from greenfield projects to mergers and acquisitions.