The independent containership owner and manager purchased the vessels for $195.6 million.
The U.S. Commerce Department’s International Trade Administration released a report Wednesday, showing that 92 percent of more than $1.3 trillion worth of U.S. goods exported in 2015 were likely affected by foreign technical regulations.
The Arab ocean carrier's shareholders would own 28 percent of the combined company, while the existing shareholders of Hapag-Lloyd would own 72 percent of the new company.
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Taiwanese ocean carrier Yang Ming Transport Corp. named former Evergreen Line executive Bronson Hsieh as its new chairman.
The Port of Longview in Washington state, which is seeking interested parties in taking over its Bridgeview Terminal, said it would prefer operators interested in handling import and export bulk cargo, but it's open to other possible marine uses.
The global shipping industry will see earnings worsen, while freight rates will remain depressed amid ample supply, according to projections from the credit rating agency Moody's Investors Service.