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The ESC's support for the merger stands in sharp contrast to its opposition to a proposed merger proposed between UPS and TNT in 2012.
Hapag-Lloyd has reportedly picked Deutsche Bank, Goldman Sachs and Berenberg to assist it with an initial public offering, fueling speculation the German ocean carrier is accelerating its plan for a public float.
Import cargo volumes at the nation’s major retail container ports are expected to increase 7.3 percent in July, according to the monthly Global Port Tracker report from the National Retail Federation and Hackett Associates.
Senat Shipping claimed no wrongdoing or illegal activity on its part, and said the Treasury Departments action is a “misguided measure purely based on Senat's historical dealings with OMM,” according to a report from Reuters.
Oregon Rep. Earl Blumenauer said his recently introduced STRONGER Act would establish an enforcement trust fund that would be "paid for by foreign exporting cheaters."
Singapore-based GLP's $4.55 billion acquisition of IIT's logistics assets will make it second largest logistics property owner and operator in the United States within a year of market entry, the company said.