Hanne B. Sørensen, chief executive of A.P. Møller-Maersk’s third-party logistics subsidiary, will be replaced by current Maersk Line Head of East West Trades Klaus Rud Sejling, the company said in a statement.
The Shanghai Containerized Freight Index fell 3.5 percent from last Friday to a reading of 707.68, declining for the second straight week as the short-term boost after Hanjin Shipping filed for receivership at the end of August has now faded.
The Japanese ocean carrier has acquired a 25 percent share of EMAS Chiyoda Subsea, a construction firm specializing in offshore and subsea oil and gas facilities, from Singapore’s Ezra Holdings and Japan’s Chiyoda Corporation.
Registration takes less than 1 minute.
The U.S. government in 2015 issued an estimated $804 million in duty drawbacks, less than 10 percent of the amount available to shippers, but upcoming regulatory changes should attract more shippers to the longtime duty refund program.
APM Terminals appointed A.P. Moller Shipping Services Chief Executive Morten Engelstoft to succeed current CEO Kim Fejfer, who will be taking up a new role at APM Holding A/S, according to a statement from the company.
Association of American Railroads President and CEO Edward R. Hamberger said a report released by the Surface Transportation Board shows that changes to the existing regulatory structure would not benefit the larger transportation system.