The German ocean carrier said its merger with UASC will create the world's fifth largest container carrier and secure the large ships it needs for the Far East-Europe trade.
The Government Accountability Office has denied a competitor's protest that the U.S. Transportation Command improperly awarded a contract to operate a major military port.
The port terminal operator division of China COSCO Shipping Corp. posted net profits attributable to equity shareholders of the company of $171.9 million on revenues of $275 million, year-over-year declines of 8.1 percent and 0.6 percent, respectively.
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The Itasca, Ill.-based third-party logistics provider has added a 50,000-square-foot warehouse on the border of Shenzhen in southeastern China, 30 minutes away from the Port of Hong Kong and 45 minutes from Hong Kong International Airport.
The Hong Kong-based container and bulk shipping company reported a net loss of $40.2 million in the first six months of 2016 as revenues slid 20.5 percent to $385.8 million compared with the same 2015 period.
The national postal carrier of Australia has purchased a 4.5 percent stake in global transportation and logistics provider Aramex for a reported $100 million Australian (U.S. $76 million) in an effort to boost its e-commerce capabilities.