Yang Ming responded by saying it has unwavering support of Taiwan’s government and has "proactively reorganized internally to effectively reduce its operating costs."
Orient Overseas Container Line’s parent company said it is not aware or involved in any bid relating to the company or OOCL.
Kansas City Southern’s net income fell 1.1 percent to $479.9 million for the full year in 2016 on revenues that slid 3.5 percent compared to the previous year, according to the company’s most recent financial statements.
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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 contract freight rate benchmarking company warned, however, that stability will be hard to come by, and if just one or two carriers begin to drop rates and chase market share again, prices will likely fall across the board.
The global shipping consultancy said there will be minimal aggregate multipurpose fleet growth to 2020, due to increased demolition levels in the multipurpose and competing sectors, combined with the decreased number of newbuilding orders.