The Chinese Ministry of Commerce on Friday unconditionally approved FedEx's $4.8 billion acquisition play for Netherlands-based global package delivery firm TNT Express.
The Shanghai Containerized Freight Index rose from a reading of 457.70 last week to a reading of 603.64 this week, as rates from Shanghai to North Europe and the Mediterranean posted sharp increases.
The container terminal operator posted a cargo throughout of 15.5 million TEUs at its container terminals in the first quarter of 2016, a 2.4 percent increase from the same 2015 period on a like-for-like basis.
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The world's second largest ocean carrier will use software provider INTTRA's eVGM solution to provide a portal for submission of verified container weight data ahead of the International Maritime Organization's July 1 deadline.
Meanwhile, the European Commission Competition Directorate has set a “provisional deadline” for a decision on CMA CGM's purchase of APL parent Neptune Orient Lines for this Friday, April 29.
The 2M Alliance, comprised of ocean carriers Maersk Line and MSC, will also add a call in New York to another one of its loops between Asia and the U.S. East Coast.